Throughout the 20th century home production was revolutionized by the introduction of new technologies, from running water to modern appliances, that significantly reduced the time de-mands of home production. This paper examines whether these changes can explain the important increase in the...

production. This paper examines whether these changes can explain the important increase in the labor force participation of married women during the 20th century. It contributes to the existing literature by including childcare constraints consistent with U.S. time use data, to examine whether...

Real business cycle models have difficulty replicating the volatility of S&P 500 returns. This fact should not be surprising since the RBC theory suggests a measurement of the return of aggregate capital, not stock market returns. We construct a quarterly time series of the after-tax return to...