Reinhart, Carmen; Ogaki, Masao; Ostry, Jonathan - Volkswirtschaftliche Fakultät, … - 1996
The relationship between real interest rates, saving, and gre is a cen tral issue in development economics. Using iflaCrOecOnOFflic data for c cross-section of countries, we estimate a model in %i’hlc/I 1/ic intertemporal elasticity of subsutution varies with the level of wealth. The estimated...