Title
Was the construction sector in 20 European countries anti-cyclical during the recession years 2008-2009 as measured by multicriteria analysis (MULTIMOORA)? Was the construction sector in 20 European countries anti-cyclical during the recession years 2008-2009 as measured by multicriteria analysis (MULTIMOORA)?
Author
Faculty/Department
Faculty of Applied Economics
Publication type
conferenceObject
Publication
Amsterdam :Elsevier ,
Subject
Economics
Computer. Automation
Source (journal)
Procedia computer science
Volume/pages
31(2014) , p. 949-956
ISSN
1877-0509
ISI
000360713800109
General
2nd International Conference on Information Technology and Quantitative Management, ITQM 2014, Moscow, 3-5 June 2014
Carrier
E
Target language
English (eng)
Full text (Publishers DOI)
Affiliation
University of Antwerp
Abstract
The thesis of Keynes that public investment may act as a remedy in recession years is well-known. This thesis is examined on basis of the behavior of different criteria measuring the construction sector during the recession years 20082009 for 20 European Countries. During these recession years all these criteria showed a pro-cyclical movement instead of an anti- cyclical one. MULTIMOORA, a multi-objective optimization method, aggregated the different criteria. In addition knowing that public investments, in fact public works, take a long time between decision and execution one may conclude that they are not an anti-cyclical instrument in recession years. It would mean that the thesis of Keynes is wrong. Keywords J. M. Keynes; construction sector; recession; criteria; MULTIMOORA
Full text (open access)
https://repository.uantwerpen.be/docman/irua/4fade8/06ab6f44.pdf
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