How Different is the Cyclical Behavior of Home Production Across Countries?:
This paper studies stylized business cycle properties of household production in four industrialized countries (Canada, the United States, Germany, and Japan). We employ a dynamic small open economy business cycle model that incorporates a household production sector. We use the model to generate da...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2006
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 06/46 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers |
| Zusammenfassung: | This paper studies stylized business cycle properties of household production in four industrialized countries (Canada, the United States, Germany, and Japan). We employ a dynamic small open economy business cycle model that incorporates a household production sector. We use the model to generate data on home output, hours worked in the home sector, and hours spent on leisure. We find that in each country, home output is more volatile than market output while home sector hours are about as volatile as those in the market sector. In each country, leisure is the least volatile series. Leisure hours and home hours are countercyclical in all countries, and home output is not highly correlated with market output. Home sector variables are generally less persistent than market variables, and cross-country correlations related to home production tend to be lower than those related to market production. These findings demonstrate that despite some well-known structural differences in labor markets, the cyclical features of home sector variables are similar across the countries we consider |
| Beschreibung: | 1 Online-Ressource (32 p) |
| ISBN: | 1451863063 9781451863062 |
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| index_date | 2024-07-03T20:13:23Z |
| indexdate | 2024-07-10T09:35:32Z |
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| record_format | marc |
| series2 | IMF Working Papers |
| spelling | Kose, M. Ayhan Verfasser aut How Different is the Cyclical Behavior of Home Production Across Countries? Kose, M. Ayhan Washington, D.C International Monetary Fund 2006 1 Online-Ressource (32 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 06/46 This paper studies stylized business cycle properties of household production in four industrialized countries (Canada, the United States, Germany, and Japan). We employ a dynamic small open economy business cycle model that incorporates a household production sector. We use the model to generate data on home output, hours worked in the home sector, and hours spent on leisure. We find that in each country, home output is more volatile than market output while home sector hours are about as volatile as those in the market sector. In each country, leisure is the least volatile series. Leisure hours and home hours are countercyclical in all countries, and home output is not highly correlated with market output. Home sector variables are generally less persistent than market variables, and cross-country correlations related to home production tend to be lower than those related to market production. These findings demonstrate that despite some well-known structural differences in labor markets, the cyclical features of home sector variables are similar across the countries we consider Online-Ausg Blankenau, William Sonstige oth http://elibrary.imf.org/view/IMF001/03132-9781451863062/03132-9781451863062/03132-9781451863062.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Kose, M. Ayhan How Different is the Cyclical Behavior of Home Production Across Countries? |
| title | How Different is the Cyclical Behavior of Home Production Across Countries? |
| title_auth | How Different is the Cyclical Behavior of Home Production Across Countries? |
| title_exact_search | How Different is the Cyclical Behavior of Home Production Across Countries? |
| title_exact_search_txtP | How Different is the Cyclical Behavior of Home Production Across Countries? |
| title_full | How Different is the Cyclical Behavior of Home Production Across Countries? Kose, M. Ayhan |
| title_fullStr | How Different is the Cyclical Behavior of Home Production Across Countries? Kose, M. Ayhan |
| title_full_unstemmed | How Different is the Cyclical Behavior of Home Production Across Countries? Kose, M. Ayhan |
| title_short | How Different is the Cyclical Behavior of Home Production Across Countries? |
| title_sort | how different is the cyclical behavior of home production across countries |
| url | http://elibrary.imf.org/view/IMF001/03132-9781451863062/03132-9781451863062/03132-9781451863062.xml |
| work_keys_str_mv | AT kosemayhan howdifferentisthecyclicalbehaviorofhomeproductionacrosscountries AT blankenauwilliam howdifferentisthecyclicalbehaviorofhomeproductionacrosscountries |