caa a22 4500 477129668 CHVBK 20180405111701.0 cr unu---uuuuu 170330e19970701xx s 000 0 eng 10.1023/A:1007701422238 doi (NATIONALLICENCE)springer-10.1023/A:1007701422238 The Cyclic Behavior of the Greater London Office Market [Elektronische Daten] [William Wheaton, Raymond Torto, Peter Evans] This paper applies structural econometric methodology to estimating and forecasting the greater London office market. We assemble a time series covering the 1970-1995 period and estimate equations for net space absorption, movements in rents, and new building orders. Together with two identities, calculating the stock and vacancy, these form a complete model. We estimate a generally inelastic supply and demand relationship that yields a dynamically stable system. Without unanticipated economic shocks, the market is noncyclic. Therefore the building boom of the 1980s largely is delayed response to the huge growth in service jobs that occurred over that period. Kluwer Academic Publishers, 1997 London office nationallicence market nationallicence Wheaton William Department of Economics and the Center for Real Estate M.I.T, USA aut Torto Raymond Department of Economics, University of Massachusetts, Boston aut Evans Peter DTZ Debenham Thrope, London aut The Journal of Real Estate Finance and Economics Kluwer Academic Publishers 15/1(1997-07-01), 77-92 0895-5638 15:1<77 1997 15 11146 https://doi.org/10.1023/A:1007701422238 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1023/A:1007701422238 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Wheaton William Department of Economics and the Center for Real Estate M.I.T, USA aut NATIONALLICENCE 700 1- Torto Raymond Department of Economics, University of Massachusetts, Boston aut NATIONALLICENCE 700 1- Evans Peter DTZ Debenham Thrope, London aut NATIONALLICENCE 773 0- The Journal of Real Estate Finance and Economics Kluwer Academic Publishers 15/1(1997-07-01), 77-92 0895-5638 15:1<77 1997 15 11146 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer