Home Production Meets Time to Build
AbstractAn innovation in this paper is to introduce a time-to-build technology for the production of market capital into a model with home production. Our main finding is that the two anomalies that have plagued all household production modelsthe positive correlation between business and household investment, and household investment's leading business investment over the business cycleare resolved when time to build is added.
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Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Political Economy.
Volume (Year): 109 (2001)
Issue (Month): 5 (October)
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Web page: http://www.journals.uchicago.edu/JPE/
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