Casey B. Mulligan
Casey B. Mulligan's Latest Articles | 56
New Home Activity Through April 2010
The Housing Cycle and Prospects for Technical Change
Information technology has dramatically advanced over the years, and it is unreasonable to assume that today it will suddenly cease. But what types of production... Read »
Are Real Housing Prices Still High?
Yesterday I showed how the Census Bureau New Home Price Index, adjusted for inflation, was no lower — probably higher — now than it was throughout the... Read »
How Big was the Housing Price Cycle?
Various housing “price” indices agree than the 2000s had a large housing cycle, with real housing values rising over a prolonged period, and then falling... Read »
Housing PPI: Wow!
Housing PPI: Wow! – Higher nominal housing prices would improve economic efficiency, and the costs of construction are an important determinant of housing... Read »
Lack of Demand?
Earlier I displayed some data on output and factor usage in the manufacturing and home construction industries. Those were clearly cases of lack of demand: people... Read »
Demand Shock Autopsy
A wide range of economists have said that employment is low right now because of a lack of demand. As you might guess from the title of this blog, I think supply... Read »
Why Did Investment Fall During the Recession?
My view is that investment fell largely because labor fell (and labor and capital are complements). For example, if fewer people are to be working, it’s time... Read »
It Was a Housing Boom, not a Construction Boom
Below are BEA’s indices of real investment in structures, for three types: owner-occupied housing, tenant-occupied housing, and non-residential structures... Read »
Where’s the Continued Decline?
At the end of 2008, with housing data through Oct 2008 in hand, I predicted that housing prices would continue to fall, but begin to recover in the Summer of 2009... Read »







