TY - BOOK ID - 11950128 TI - How Different Is the Cyclical Behavior of Home Production Across Countries? AU - Kose, Ayhan. AU - Blankenau, William. AU - International Monetary Fund. PY - 2006 SN - 1451863063 1462332668 1451908423 9786613820471 1452728968 1282392042 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Electronic books. -- local. KW - Households -- Economic aspects -- Canada. KW - Households -- Economic aspects -- Germany. KW - Households -- Economic aspects -- Japan. KW - Households -- Economic aspects -- United States. KW - Households KW - Economic aspects KW - Population KW - Families KW - Home economics KW - Exports and Imports KW - Labor KW - Macroeconomics KW - Production and Operations Management KW - Macroeconomics: Consumption KW - Saving KW - Wealth KW - Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data) KW - Macroeconomics: Production KW - Trade: General KW - Demand and Supply of Labor: General KW - Economic growth KW - International economics KW - Labour KW - income economics KW - Consumption KW - Business cycles KW - Productivity KW - Exports KW - Labor markets KW - Economics KW - Industrial productivity KW - Labor market KW - United States KW - Income economics UR - https://www.unicat.be/uniCat?func=search&query=sysid:11950128 AB - 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. ER -