Modeling the United States Housing Sector

摘要

New residential construction and improvement of existing housing account for most of the solid wood products consumption in the United States. It is important for forest policy analysts and those interested in wood products markets to understand the implications of changes in macroeco - nomic variables on housing markets and, hence, on wood products markets and forests. In past studies of U. S. housing markets used for log-run forest policy analysis, the time series properties of the macroeconomic data used to estimate the models were ignored.