콘텐츠 바로가기
로그인
컨텐츠

Category Open

Resources

tutorial

Collection of research papers and materials on development issues

home

Resources
Economy Trade
Industry and Technology General

Print

Home production model and foreign trade : The case of the Korean economy

Related Document
Frame of Image


Full Text
Title Home production model and foreign trade
Similar Titles
Sub Title

The case of the Korean economy

Material Type Reports
Author(English)

Nahm, Jaihyun

Publisher

Korea Institute of Finance

Date 2005-05
Series Title; No Financial Economic Series / 2005-06
Pages 29
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Trade
Industry and Technology < General
Holding Korea Institute of Finance

Abstract

The Beckerian home production model fairly succeeded in matching the business cycle characteristics in the aggregate US data, but it is still an open issue whether the model in useful for other economies. This paper investigates whether a simple closed economy home production model or any variants of it, including an appropriately constructed open economy home production model, are able to match the business characteristics in the Korean economy. It turns out that the appropriately calibrated home production model survives the sensitivity test in the Korean economy case.