05060oam 22011894 450 991078852100332120230829002209.01-4623-3266-81-4527-2896-81-282-39204-297866138204711-4519-0842-3(CKB)3360000000443087(EBL)3014565(SSID)ssj0001477232(PQKBManifestationID)11812515(PQKBTitleCode)TC0001477232(PQKBWorkID)11452432(PQKB)10792606(OCoLC)246925337(MiAaPQ)EBC3014565(IMF)WPIEE2006046(EXLCZ)99336000000044308720020129d2006 uf 0engur|n|---|||||txtccrHow Different Is the Cyclical Behavior of Home Production Across Countries? /Ayhan Kose, William BlankenauWashington, D.C. :International Monetary Fund,2006.1 online resource (32 p.)IMF Working Papers"February 2006."1-4518-6306-3 Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. THE MODEL""; ""III. DATA""; ""IV. PARAMETER CALIBRATION""; ""V. RESULTS""; ""VI. CONCLUSION""; ""References""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.IMF Working Papers; Working Paper ;No. 2006/046HouseholdsEconomic aspectsCanadaHouseholdsEconomic aspectsUnited StatesHouseholdsEconomic aspectsGermanyHouseholdsEconomic aspectsJapanExports and ImportsimfLaborimfMacroeconomicsimfProduction and Operations ManagementimfMacroeconomics: ConsumptionimfSavingimfWealthimfPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)imfMacroeconomics: ProductionimfTrade: GeneralimfDemand and Supply of Labor: GeneralimfEconomic growthimfInternational economicsimfLabourimfincome economicsimfConsumptionimfBusiness cyclesimfProductivityimfExportsimfLabor marketsimfEconomicsimfIndustrial productivityimfLabor marketimfUnited StatesimfHouseholdsEconomic aspectsHouseholdsEconomic aspectsHouseholdsEconomic aspectsHouseholdsEconomic aspectsExports and ImportsLaborMacroeconomicsProduction and Operations ManagementMacroeconomics: ConsumptionSavingWealthPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)Macroeconomics: ProductionTrade: GeneralDemand and Supply of Labor: GeneralEconomic growthInternational economicsLabourincome economicsConsumptionBusiness cyclesProductivityExportsLabor marketsEconomicsIndustrial productivityLabor marketKose Ayhan1462080Blankenau William1462081International Monetary Fund.DcWaIMFBOOK9910788521003321How Different Is the Cyclical Behavior of Home Production Across Countries3670932UNINA