Household Production with Inventories
Household Production with Inventories
Author(s): Juraj ZemanSubject(s): Economy
Published by: Ekonomický ústav SAV a Prognostický ústav SAV
Keywords: home production; inventory; business cycle; investment; The Economic Environment - Household; Market shocks;
Summary/Abstract: An innovation in this paper is the introduction of inventories into the market sector of the Real Business Cycle model with household production. My main finding is that the controversy between procyclicity of hours spent to produce consumption good versus correlation between business and household investment, which has been prevailing in all business cycles models so far, is resolved.
Journal: Ekonomický časopis
- Issue Year: 53/2005
- Issue No: 02
- Page Range: 161-171
- Page Count: 10
- Language: English
