A Tax-Based Estimate of the Elasticity of Intertemporal Substitution
نویسندگان
چکیده
منابع مشابه
A Tax-Based Estimate of the Elasticity of Intertemporal Substitution
One of the most important behavioral parameters in macroeconomics is the elasticity of intertemporal substitution (EIS). Starting with the seminal work of Hall (1978), researchers have used an Euler equation framework to estimate the EIS, relating the growth rate of consumption to the after-tax interest rate facing consumers. This large literature has, however, produced very mixed results, perh...
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We[1] 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 originally based on estimated values for developed countries. We show that this difference has important ...
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This paper shows that the CRRA specification of intertemporal preferences (implying a constant elasticity of intertemporal substitution, or EIS), imposes surprising limitations on within period budget allocations. Consequently, the constant EIS assumption can be tested with demand data. In fact, the parameter of the CRRA utility function is pinned down completely by the shape of Engel curves; i...
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Abstract Nowadays, fishery and aquaculture products form an important fraction of the protein requirement and food of many people on the earth. The hike in prices of these essential products seems necessary owing to the increase in demand and consumption of these products in the country. The price transmission from the international market to the domestic market of tunas was investigated in t...
متن کاملEstimate of Armington substitution elasticity for fishery products in Iran
The price transmission from the international market to the domestic market of tunas was investigated in the present research. For this purpose, the elasticity of substitution between tuna imports with goods produced in Iran (Armington Elasticity) was calculated. Armington elasticity reflects a degree of substitution between commodities produced domestically and those produced abroad. A greater...
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ژورنال
عنوان ژورنال: Quarterly Journal of Finance
سال: 2013
ISSN: 2010-1392,2010-1406
DOI: 10.1142/s2010139213500018