Piketty’s Elasticity of Substitution: A Critique
نویسندگان
چکیده
منابع مشابه
Estimate of Armington substitution elasticity for fishery products in Iran
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...
متن کاملElasticity of Intertemporal Substitution: An Investigation in Iran
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 ...
متن کاملTrade elasticity of substitution and equilibrium dynamics
The empirical literature provides a wide range of estimates for trade elasticities at the aggregate level. Furthermore, recent contributions in international macroeconomics suggest that low (implied) values of the trade elasticity of substitution may play an important role in understanding the disconnect between international prices and real variables. However, a standard model of the internati...
متن کاملIntertemporal Elasticity of Substitution with Leisure Margin
This paper investigates whether leisure time definitions matter in the estimation of the intertemporal elasticity of substitution of consumption (IES) by using a utility specification that allows interaction between consumption and leisure time. We find that the IES estimated using a narrowly defined leisure measure that excludes quasi-leisure activities is larger than that estimated using nonm...
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ژورنال
عنوان ژورنال: Review of Political Economy
سال: 2017
ISSN: 0953-8259,1465-3982
DOI: 10.1080/09538259.2016.1244916