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Elasticity of Intertemporal Substitution in Consumption : Empirical Evidence from a Natural Experiment

Kapoor, Mudit - 2010

This paper estimates the elasticity of intertemporal substitution in consumption (sigma). We exploit a natural experiment provided by a change in the Indian banking legislation which authorized all the deposit collecting institutions to offer a higher interest rate on deposits to citizens above...

Persistent link: https://www.econbiz.de/10013138429

Cross-country heterogeneity in intertemporal substitution

Havránek, Tomáš; Horváth, Roman; Havránková, Zuzana; … - 2013

We collect 2,735 estimates of the elasticity of intertemporal substitution in consumption from 169 published studies that cover 104 countries during different time periods. The estimates vary substantially from country to country, even after controlling for 30 aspects of study design. Our...

Persistent link: https://www.econbiz.de/10009786885

Housing, Household Portfolio, and Intertemporal Elasticity of Substitution

Hasanov, Fuad - 2011

This paper investigates the impact of the inclusion of housing in a household portfolio on household's intertemporal decision making. Residential housing is one of the principal assets households hold, and thus changes in housing return can affect household consumption over time. We assess...

Persistent link: https://www.econbiz.de/10014061872

Elasticity of Intertemporal Substitution : An Investigation in Iran

Einian, Majid - 2019

We present estimates of the Elasticity of Intertemporal Substitution (EIS) for Iranian households using synthetic cohort panels based on household micro-data. Results show significant difference with the common values used in Dynamic Stochastic General Equilibrium (DSGE) models which are...

Persistent link: https://www.econbiz.de/10012864465

A Leisurely Reading of the Life Cycle Consumption Data

Bullard, James B. - 2008

equilibrium life-cycle economy with capital in which households include both consumption and leisure in their period utility … equilibrium. Thus inclusion of leisure in household preferences may provide part of the explanation of observed lifecycle …

Persistent link: https://www.econbiz.de/10012726762

A Leisurely Reading of the Life Cycle Consumption Data

Bullard, James B. - 2006

life-cycle economy with capital in which households include both consumption and leisure in their period utility function … inclusion of leisure in household preferences may provide part of the explanation of observed life-cycle consumption humps …

Persistent link: https://www.econbiz.de/10012733221

A Life-Cycle Model of Habitual Dependence in Leisure Demand

Gurdgiev, Constantin - 2008

-persistence of leisure demand. The model establishes a link between the habitual leisure and income effects, which amplifies the … the strength of habit formation. At the same time, the wage elasticity of demand for leisure and the income elasticity of … consumption are shown to be functions of the strength of habit formation. The model concludes that while habitual leisure captures …

Persistent link: https://www.econbiz.de/10012725127

Intertemporal elasticity of substitution with leisure margin

Yagihashi, Takeshi; Du, Juan - In: Review of Economics of the Household 21 (2023) 4, pp. 1473-1504

Persistent link: https://www.econbiz.de/10014383979

Revisiting, from a Frischian point of view, the relationship between elasticities of intratemporal and intertemporal substitution

Biørn, Erik - 2017

How are substitution in the spatial and in the temporal sense connected? Can estimates based on data with spatial variation be transmitted into values appropriate for exploring temporal variation, and vice versa? This paper, building on, inter alia, Frisch (1959), attempts to give some...

Persistent link: https://www.econbiz.de/10011636063

Non-Separable Preferences, Stochastic Returns and Intertemporal Substitution in Consumption

Greenig, Douglas - 2014

Fischer Black provided a summary of my 1986 Princeton thesis. The idea in my thesis predates Epstein-Zin (1989). Black wrote:"Greenig (1986) explores time-nonseparable utility as a way of separating risk tolerance from elasticity of intertemporal substitution, and as a way of explaining things...

Persistent link: https://www.econbiz.de/10013049726