"Skyscraper Height and the Business Cycle: Separating Myth from Reality," by Jason Barr, Kusum Mundra and Bruce Mizrach

Economists Jason Barr, Kusum Mundra and Bruce Mizrach
The Economist (March 29, 2015) reported on a paper, "Skyscraper Height and the Business Cycle: Separating Myth from Reality," by Rutgers Newark Economists Jason BarrKusum Mundra and Bruce Mizrach (Rutgers New Brunswick), which was published this year by Applied Economics. 
 
Jason Barr and Kusum Mundra and their co-author Bruce Mizrach debunk the so-called "Skyscraper Hypothesis" that competition for the tallest building marks business cycle tops.  They show, using data from the U.S., China, Canada and Hong Kong, that GDP causes height.  Because buildings naturally take several years to complete, the tallest building will always be finished as a downturn approaches.