Open Access. Powered by Scholars. Published by Universities.®

Economics Commons

Open Access. Powered by Scholars. Published by Universities.®

Old Dominion University

2022

Discipline
Keyword
Publication
Publication Type

Articles 31 - 31 of 31

Full-Text Articles in Economics

The Partition Of Production Between Households And Markets, Christopher Colburn, Haiwen Zhou Jan 2022

The Partition Of Production Between Households And Markets, Christopher Colburn, Haiwen Zhou

Economics Faculty Publications

The process of industrialization was accompanied by the switch from household production to firm production. The industrialization process was also a process of population growth, the appearance of general-purpose technologies, and the expansion of international trade. This paper studies the partition of production between households and firms in an analytically tractable general equilibrium model with a continuum of goods. We show that population growth, development of general-purpose technologies, and the opening of international trade increase the percentage of goods produced by firms. However, with the appearance of a technology biased toward home production, the percentage of goods produced by households …