[PDF] intertemporal substitution of consumption

[PDF] INTERTEMPORAL SUBSTITUTION IN MACROECONOMICS

In addition, when the utility function is concave, the estimates imply that either consumption or leisure is an inferior good We conclude that observed economic  

[PDF] Estimating Intertemporal Elasticity of Substitution - Federal Reserve

2 To be precise, the consumer's utility function is taken to be homothetic and constant elastic This assumption implies that the consumption good in each period is 

[PDF] Estimating the Elasticity of Intertemporal Substitution Using

Intuitively, the magnitude of such borrowing and consumption responses to interest rate notches is governed by the value of the EIS Our study is based on 

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