This paper estimates the elasticity of intertemporal substitution in consumption (σ) by exploiting a natural experiment provided by a change in the Indian banking legislation. The new legislation ...

This is a preview. Log in through your library . Abstract As Hall (1988) notes, the magnitude of the intertemporal elasticity of substitution in consumption, σ, is "one of the central questions of ...

Empirical evidence for small developed economies finds that consumption is procyclical and as volatile as output, and real net exports are coutercyclical. Earlier studies have not been able to ...

A standard DSGE small open economy model can not generate the cyclical regularities of middle-income countries. It predicts excessive consumption smoothing, and procyclical, instead of countercyclical ...

2019 AUG 19 (NewsRx) -- By a News Reporter-Staff News Editor at Politics, Law & Government Daily-- Fresh data on Economics - Public Economics are presented in a new report. According to news reporting ...

Arguments about the appropriate discount rate often start by assuming a Utilitarian social welfare function with isoelastic utility, in which the consumption discount rate is a function of the ...