Title: Intertemporal substitution and durable goods: long-run data
Abstract: In this paper, we use long-run annual data to estimate the intertemporal elasticity of substitution while accounting for the intra-temporal substitution between nondurable consumption goods and durable consumption goods. We apply a two-step procedure that combines a cointegration approach to preference parameter estimation with Generalized Method of Moments.
Publication Year: 1998
Publication Date: 1998-01-01
Language: en
Type: preprint
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