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Home Production

By Yongsung Chang and Andreas Hornstein

Working Papers

May 2006, No. 06-4

Studying the incentives and constraints in the non-market sector — that is, home production — enhances our understanding of economic behavior in the market. In particular, it helps us to understand (1) small variations of labor supply over the life cycle, (2) large variations of employment relative to wages over the business cycle, and (3) large income differences across countries.

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Katrina Mullen

Home Production

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