Homework in Macroeconomics: Household Production and Aggregate Fluctuations
在标准真实经济周期模型中引入家庭生产，基于微观证据校准模型并模拟，发现家庭生产显著改善了模型对总体波动的解释力，并改变了波动的本质解读。
This paper explores some macroeconomic implications of including household production in an otherwise standard real business cycle model. The authors calibrate the model on the basis of microeconomic evidence and long-run considerations, simulate it, and examine its statistical properties. They find that introducing home production significantly improves the quantitative performance of the standard model along several dimensions. It also implies a very different interpretation of the nature of aggregate fluctuations. Copyright 1991 by University of Chicago Press.