Journal ArticleDOI
Impact of COVID-19 on the US Construction Industry as Revealed in the Purdue Index for Construction
TLDR
In this paper , the authors analyzed the impact of the coronavirus disease 2019 pandemic on the US construction industry and predicted the future trend of the construction industry using the Purdue Index for Construction (Pi-C).Abstract:
The coronavirus disease 2019 (COVID-19) pandemic has brought unprecedented impacts (e.g., labor shortage, suspension and cancellation of projects, and disrupted supply and logistics) on the US construction industry. To address challenges caused by the pandemic, it is critical for the construction industry to develop a clear understanding of how the pandemic has affected the industry and how it will change in the future. However, assessing the impacts of COVID-19 on the construction industry is challenging due to the broad influence of the pandemic and the dynamic nature of the industry. The Purdue Index for Construction (Pi-C), which was developed as an indicator based on five dimensions and corresponding metrics to measure the health status of the construction industry, offers an opportunity to understand the impact of the pandemic. In this context, this paper presents a study to reveal the relationship between COVID-19 and the health status of the industry as measured through Pi-C and predict the future trend of the construction industry. This study achieves the objective via the three steps. First, the relationship between the pandemic and Pi-C metrics is identified using the Granger causality test and structural equation modeling (SEM) analysis. Second, multivariable prediction models are developed based on a long short-term memory (LSTM) network—a deep learning algorithm—to predict Pi-C metrics in the future. Third, forecasted Pi-C metrics are integrated into the existing Pi-C structure to analyze the impacts of the COVID-19 pandemic and predict its trends in 2021–2022. The results revealed that the impacts of the pandemic were conspicuous in two Pi-C dimensions (economy and stability), whereas no significant impacts were observed in the remaining Pi-C dimension (social). In addition, the Pi-C forecasted that there would be no significant adverse impacts on the US construction industry caused by the pandemic until the end of 2022. read more
Citations
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Journal ArticleDOI
Remedies to the PPP Crisis in the Covid-19 Pandemic: Lessons from the 2008 Global Financial Crisis
TL;DR: In this paper , the authors explore recovery measures to address short and long-term road public-private partnership (PPP) related challenges associated with the COVID-19 pandemic by considering recuperation actions implemented during the 2008 global financial crisis (GFC).
Journal ArticleDOI
Construction Industry from Perspective of Force Majeure and Environmental Risk Compared to the COVID-19 Outbreak: A Systematic Literature Review
TL;DR: In this article , an integrative review of articles published across Scopus and Web of Science journals and compiled using the systematic review methodology based on the PRISMA (Preferred Reporting Items for Systematic Reviews and Meta-Analyses) Statement and VOSreview (visualization of similarities) software by defining keywords that include “construction industry” and “force majeure, and environmental risks” as a starting point.
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The COVID-19 Pandemic: A Catalyst and Accelerator for Offsite Construction Technologies
TL;DR: In this paper , the authors used an integrated methodology to study how the COVID-19 crisis would unfold for offsite construction as well as to examine the off-site construction measures that were taken by companies during the pandemic.
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COVID-19 Pandemic and Its Effects on the Usage of Information Technologies in the Construction Industry: The Case of Romania
TL;DR: In this article , the authors investigated the main effects of the COVID-19 pandemic on the Romanian construction sector, as well as the role of the digitalization process in mitigating the negative impact on the companies activating in this domain, in the context of current levels of use of information technologies.
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Demographic Influences on Perceived Stressors of Construction Workers during the COVID-19 Pandemic
TL;DR: Li et al. as discussed by the authors conducted a detailed investigation on the perceived stressors of different demographic groups among construction workers and found that married workers experienced more pandemic fear and job insecurity, and they were more sensitive to the poor working environment.
References
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Spurious regressions in econometrics
Clive W. J. Granger,P. Newbold +1 more
TL;DR: In this paper, it is pointed out that it is very common to see reported in applied econometric literature time series regression equations with an apparently high degree of fit, as measured by the coefficient of multiple correlation R2 or the corrected coefficient R2, but with an extremely low value for the Durbin-Watson statistic.
Journal ArticleDOI
First Case of 2019 Novel Coronavirus in the United States.
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TL;DR: This case highlights the importance of close coordination between clinicians and public health authorities at the local, state, and federal levels, as well as the need for rapid dissemination of clinical information related to the care of patients with this emerging infection.