real business cycles in the view of intertemporal substitution behavior. The model is a standard real business cycle model … the present level as a result of technology diffusion. So intertemporal substitution behavior leads to a recessions in the … necessary to adopt and learn about new technology, the above-mentioned intertemporal substitution is more powerful, and so a …

We consider an optimal portfolio-consumption problem which incorporates the notions of durability and intertemporal … substitution. The logreturns of the uncertain assets are not necessarily normally distributed. The natural models then involve Lévy …

negative) technology shocks are expected in the near future, intertemporal substitution behavior leads to recessions (or …

intertemporal substitution is large, a higher output level can be achieved when income inequality is great, that is, when the income … distribution is strongly dispersed. If the elasticity of intertemporal substitution is low, the reverse relation holds. The paper …

The intertemporal substitution model of labor supply has been based on closed economy models. This paper studies the … intertemporal substitution hypothesis in an open economy. It derives the long run labor supply as a function of the real wage, real … intertemporal substitution hypothesis, the significant impact of the real exchange rate, and is robust to the Lucas critique. …