Research Discussion Paper – RDP 16 Private Dwelling Commencements: An Econometric Study

Introduction

The aim of this paper is to develop a behavioural equation for private dwelling commencements. Quarterly seasonally unadjusted constant price data for the period 1959(1) to 1968(4) are used.

The paper is in five parts. In section 1 the theoretical framework is presented. The definitions of the variables and sources of data are given in section 2. The empirical results are reported in section 3 and the preferred equation is subjected to some further tests in section 4. Some conclusions are drawn in section 5. Estimates of a distributed lag relationship between dwelling investment and commencements are given in an appendix.