经济
互补性(分子生物学)
福利
政府开支
消费(社会学)
商业周期
财政政策
宏观经济学
货币经济学
微观经济学
市场经济
社会科学
遗传学
生物
社会学
作者
Stefano Gnocchi,Daniela Hauser,Evi Pappa
标识
DOI:10.1016/j.jmoneco.2016.04.003
摘要
In an otherwise-standard business cycle model with housework, calibrated consistently with data on time use, we discipline complementarity between consumption and hours worked and relate its strength to the size of fiscal multipliers. Evidence on the substitutability between home and market goods confirms that complementarity is an empirically relevant driver of fiscal multipliers. However, in a housework model substantial complementarity can be generated without imposing a low wealth effect, which contradicts the microeconomic evidence. Also, explicitly modeling housework matters for assessing the welfare effects of government spending, which are understated by theories that neglect substitutability between home-produced and market goods.
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