The impact of changes in real interest rates on saving and growth is a central issue in development economics. According to one familiar view, a financial liberalization program which increases real interest rates should encourage saving, thereby boosting investment and growth. While such...

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...

As pointed out by Hall (1988), intertemporal substitution by consumers is a central element of many modern macroeconomic and international models. For example, many of the policy implications of an endogenous growth model studied by Barro (1990) depends on the assumption that the intertemporal...

The impact of changes in real interest rates on saving and growth is a central issue in development economics. According to one familiar view, a financial liberalization program which increases real interest rates should encourage saving, thereby boosting investment and growth. While such...

This paper compares the results of an experiment conducted both in the laboratory and online with participants recruited from the same subject pool using the Trustlab platform. This platform has been used to obtain incentivized and internationally comparable behavioral economics measures of...

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...

This paper presents empirical evidence concerning effects of cultural differences on parents' attitudes toward children from unique U.S. and Japanese survey data. These data sets have been collected by Osaka University, and contain questions concerning worldviews and religions, hypothetical...

This paper studies the effects of differences in worldviews on parents? attitudes towards their children. We use unique German survey data containing questions on worldviews, religion, parental behavior, and socioeconomic variables. Our empirical evidence suggests that people with stronger...