Intertemporal substitution in import demand and habit formation

Intertemporal substitution in import demand and habit formation

To study non-durable import demand, we extend previous work done by Clarida (1994) and Ceglowski (1991) by considering a two-good version of the life cycle model in which we introduce time-nonseparability in the households' preferences. The model is estimated using quarterly data for US and France. Using the information contained in the observed stochastic and deterministic trends, we derive a ...

Investigation on Habit Formation, Risk Aversion and Intertemporal Substitution in Consumption of Iranian Households by GMM Approach

Consumption is the principal feature of Iran’s Gross National Production. Therefore, recognizing of factors that influence it is quite crucial. This article, investigates habit formation, durability, relative risk aversion and intertemporal substitution in consumption expenditures of Iranian households. For empirical study, at first, we constructed two weighted portfolio of the main assets re...

investigation on habit formation, risk aversion and intertemporal substitution in consumption of iranian households by gmm approach

â â â â  reza roshan [1] â  department of economics, university of sistan and baluchestan , iran â  mosayeb pahlavani â  department of economics, university of sistan and baluchestan, iran â  mohammad nabi shahyaki tash â  department of economics, university of sistan and baluchestan, iran â  â â â  abstract â  consumption is the principal feature of iran’s gross national production. therefor...

Habit Formation and Dynamic Demand Functions

Intertemporal Substitution in Macroeconomics

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