Intertemporal Substitution in Macroeconomics
نویسندگان
چکیده
منابع مشابه
Intertemporal Substitution in Macroeconomics
Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/about/terms.html. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your perso...
متن کاملIntertemporal Substitution in Macroeconomics*
Modern neoclassical business cycle theories posit that the observed fluctuations in consumption and employment correspond to decisions of an optimizing representative individual. We estimate three first-order conditions that represent three tradeoffs faced by such an optimizing individual. He can trade off present for future consumption, present for future leisure, and present consumption for p...
متن کاملIntertemporal Macroeconomics
This chapter reviews models of intertemporal choice consumption demand and labour supply. We discuss optimal decisions by individuals at the microeconomic level and the implications for the aggregate economy. The chapter describes the equilibrium in a market-clearing neoclassical model and analyses effects of productivity and government sector shocks on optimal decisions by consumers and worker...
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 کاملIntertemporal Substitution at Work ?
Preliminary. Do not distribute. In this paper, we report the results from a large-scale field experiment with bicycle messengers. We increased the messengers comission rate, their sole form of compensation by 25 percent during four weeks. We find a positive and large intertemporal elasticity for the supply of hours. In response to the wage increase, messengers work roughly 30 percent more shift...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: The Quarterly Journal of Economics
سال: 1985
ISSN: 0033-5533
DOI: 10.2307/1885743