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A Coincident Index for Texas Residential ConstructionA Coincident Index for Texas Residential ConstructionBy Luis Torres, Jesus CaƱas, Keith Phillips2015-03-11T05:00:00Zresearch-article
Residential
A coincident index is estimated monthly since 1990 to measure the residential construction cycle in Texas. The index is based on the movements in three direct measures of residential construction activity: real contract values, real wages paid and the number of jobs. While each of these indicators are reflective of residential construction activity, the timing and direction of their changes can differ from month to month and over the course of the cycle. The coincident index is calculated using a dynamic Kalman filter designed to measure the underlying time-dependent comovement in the component series. The coincident index shows that the timing of the residential construction cycle differs from the Texas business cycle and the U.S. residential construction cycle. The index should be a useful tool for analysts seeking to understand the current direction of Texas residential construction activity. Digital and Print2093https://www.recenter.tamu.edu/articles/research-article/a-coincident-index-for-texas-residential-construction

 

 

A Coincident Index for Texas Residential ConstructionA Coincident Index for Texas Residential ConstructionResidential
GP0|#2e230374-403a-4cca-82b8-5f9aff08c2ca;L0|#02e230374-403a-4cca-82b8-5f9aff08c2ca|Torres;GTSet|#09a90ae9-5078-4623-b9a4-e3be6b49b0ad;GP0|#595427d7-1381-4ca8-abb5-3b3dc52ee130;L0|#0595427d7-1381-4ca8-abb5-3b3dc52ee130|Canas;GP0|#408e9e56-4a9c-4654-b85f-cf2cee9e5370;L0|#0408e9e56-4a9c-4654-b85f-cf2cee9e5370|Phillipsresearch-article
GP0|#7ce515f5-c587-4625-a5ac-3646a7860fa7;L0|#07ce515f5-c587-4625-a5ac-3646a7860fa7|coincident;GTSet|#57d56836-73e8-45f7-b61c-9193be1c0a6e;GP0|#cb322f06-8dd0-44a6-9184-6426342c4dab;L0|#0cb322f06-8dd0-44a6-9184-6426342c4dab|Index;GP0|#064bfd71-0477-44ca-b341-0042b7e13ba8;L0|#0064bfd71-0477-44ca-b341-0042b7e13ba8|resident;GP0|#abc71fca-8acc-4501-82a2-2318192b4399;L0|#0abc71fca-8acc-4501-82a2-2318192b4399|construction;GP0|#86beabb1-14f1-41b7-8640-44e2d61c1eee;L0|#086beabb1-14f1-41b7-8640-44e2d61c1eee|cycle

 

 

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