Economic activity, this useful relationship has not been supported by empirical testing Although housing activity has often been used as a leading indicator of general using econometric procedures. In this chapter, we investigate whether housing activity does prove to be a leading indicator...

In this chapter, a vector subset autoregressive process is fitted using a block modified Choleski decomposition method and a leaps-and-bounds algorithm to attain the best subset autoregression for each size (number of non-zero coefficient matrices). Model selection criteria are then employed to...