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This paper examines the comovements of construction in Italy-s regions from 1861 to 1913.The dynamic correlations of the series- deviation cycles decline in the case of buildings,remain very low in that of railways, and tend to decline in that of other infrastructure;the total-construction correlations instead peak in the 1870s, and again after 1900.Long-term comovements are examined by tracking the dispersion of the first differencesof the measured trends. Increasing dispersion is obtained in the construction of buildingsand of non-rail infrastructure; railway construction displayed a dramatic decline indispersion, which dominates the aggregate.

Item Type: MPRA Paper -

Original Title: The comovements of construction in Italy-s regions, 1861-1913-

Language: English-

Keywords: construction, regions , post-Unification Italy, trends, cycles, comovements-

Subjects: H - Public Economics > H5 - National Government Expenditures and Related Policies > H54 - Infrastructures ; Other Public Investment and Capital StockN - Economic History > N6 - Manufacturing and Construction > N63 - Europe: Pre-1913E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E32 - Business Fluctuations ; CyclesC - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods and Methodology: General > C14 - Semiparametric and Nonparametric Methods: GeneralN - Economic History > N1 - Macroeconomics and Monetary Economics ; Industrial Structure ; Growth ; Fluctuations > N13 - Europe: Pre-1913-

Autor: Ciccarelli, Carlo


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