Intertemporal substitution and durable goods: long-run data

In this paper, we use long-run annual data to estimate the intertemporal elasticity of substitution while accounting for the intra-temporal substitution between nondurable consumption goods and durable consumption goods. We apply a two-step procedure that combines a cointegration approach to preference parameter estimation with Generalized Method of Moments.

MoreLess

Year of publication:	1998
Authors:	Reinhart, Carmen ; Ogaki, Masao
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Keywords:	consumption real interest rates durable goods cointegration

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

More details

Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	E21 - Consumption; Saving
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005787074