generalization of Hartwick's rule : if society has a zero discount rate but is ready to accept intertemporal substitution, net …

preferences for intertemporal substitution, aversion to risk, and aversion to (spatial) inequality. While these three concepts are … intertemporal substitution. Separating the three concepts might have important implications for the appropriate discount rate, and … necessarily be an appropriate guide to specifying the elasticity of intertemporal substitution. …

(compatible with balanced growth and stationary worked hours) into a benchmark RBC model. It is shown that intertemporal … substitution and input substitutability lead to local determinacy and rule out stationary sunspot equilibria when labor demand is … this result is shown to work as follows: in contrast with separable preferences, increasing the elasticity of intertemporal …