Unveiling Economic Synchrony: Analyzing Lag Dynamics between GDP Growth and Construction Activity in Poland and Other EU Countries
Janusz Sobieraj,
Dominik Metelski
Abstract:This study examines the dynamic relationship between the business cycle and the construction sector activity in 27 EU countries, focusing on Poland. Using the cross-correlation function (CCF) and a set of economic- and construction-related variables, including GDP growth, construction production, building permits, and construction operating time by backlog, quarterly data from 2000Q1 to 2023Q2 (94 quarters in total) are analyzed. Beyond the CCF analysis, causality is also examined using Toda–Yamamoto tests to … Show more
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