This study uses a quasi-experiment to evaluate the impact of the second home restriction (Lex Weber) on construction investments in Switzerland. It estimates the effect in different strongly affected areas. Four different specifications are defined, and the changes in investment behaviour are...

This paper studies the factors behind pro-cyclical but widely varying construction shares (as a percent of GDP) across countries, with a strong focus on European countries. Using a dataset covering 48 countries (including advanced and emerging economies within and outside Europe) for 1990-2011,...

This study evaluates the impact of the second home restriction (Lex Weber) on construction investments in Switzerland. Different specifications and variations are defined, and the changes in investment behaviour are analysed. A first basic model considers the variation in investments through a...