Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
MACRO MODELS OF UK CONSTRUCTION CONTRACT PRICES
This paper describes the derivation of macro construction contract price models that are based on the economic theory of demand and supply using OLS multiple regression analysis. A structural equation model is presented which offers a structural explanation of the movements in the construction tender price index. Leading indicators of contract prices (in real terms) produced by the structural equations were unemployment level, real interest rate, manufacturing profitability, number of registered construction firms, building cost index, construction productivity and construction work stoppages. The equation produced an adjusted R2 of 0.97 for deflated data with minimal serial autocorrelation. A predictive reduced-form model is also developed that utilises simultaneous equation models comprising construction demand, supply and equilibrium models.
MACRO MODELS OF UK CONSTRUCTION CONTRACT PRICES
This paper describes the derivation of macro construction contract price models that are based on the economic theory of demand and supply using OLS multiple regression analysis. A structural equation model is presented which offers a structural explanation of the movements in the construction tender price index. Leading indicators of contract prices (in real terms) produced by the structural equations were unemployment level, real interest rate, manufacturing profitability, number of registered construction firms, building cost index, construction productivity and construction work stoppages. The equation produced an adjusted R2 of 0.97 for deflated data with minimal serial autocorrelation. A predictive reduced-form model is also developed that utilises simultaneous equation models comprising construction demand, supply and equilibrium models.
MACRO MODELS OF UK CONSTRUCTION CONTRACT PRICES
Akintoye, Akintola (Autor:in) / Skitmore, Martin (Autor:in)
Civil Engineering and Environmental Systems ; 10 ; 279-299
01.10.1993
21 pages
Aufsatz (Zeitschrift)
Elektronische Ressource
Englisch
Macro-economic leading indicators of construction contract prices
| Online Contents | 1998
Macro-economic leading indicators of construction contract prices
| Taylor & Francis Verlag | 1998
Macro-economic leading indicators of construction contract prices
| British Library Online Contents | 1998
Engineering Index Backfile | 1939
Engineering Index Backfile | 1941