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La elasticidad de sustitución intertemporal en el consumo: evidencia empírica en países representativos de la OCDE

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  • José Alberto Molina Chueca

    (Universidad de Zaragoza)

Abstract

En este trabajo estimamos una función de consumo Frisch a partir de la cual obtenemos los valores de la elasticidaad de sustitución intertemporal para varios países representativos de la OCDE (Gran Bretaña, España, Suecia y Canadá) durante el periodo 1964-1992. Los resultados indican que las cifras para todos los países son negativas de acuerdo con las exigencias de la teoría de la demanda y, en segundo lugar, las estimaciones significativas muestran que Canadá exhibe el valor más alto (en términos absolutos), alrededor de -0,42, mientras que Gran Bretaña muestra la cifra más baja. -0,25. España exhibe un valor intermedio, -0,31. In this paper we estimate a Frisch consumption function from which we obtain the values of the intertemporal substitution elasticity for some OECD representative countries (the UK, Spain, Sweden and Canada) during the period 1964-1992. The results indicate that the figures of all countries are negative according to the requirements of the demand theory and, secondly, the significant point estimates show that Canada exhibits the greatest figure (in absolute terms), around -0,42, whereaas the UK displays the smallest one, -0,25. Spain shows an intermediate value, -0,31.

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Bibliographic Info

Article provided by Estudios de Economía Aplicada in its journal Estudios de Economía Aplicada.

Volume (Year): 9 (1998)
Issue (Month): (Junio)
Pages: 119-131

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Handle: RePEc:lrk:eeaart:9_2_7

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  1. Finke, Renate & Rosalsky, Mercedes C. & Theil, Henri, 1983. "A new cross-country tabulation of income elasticities of demand," Economics Letters, Elsevier, vol. 12(3-4), pages 391-396.
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  10. Browning, Martin, 1986. "The costs of using Frisch demand functions that are additive in the marginal utility of expenditure," Economics Letters, Elsevier, vol. 21(3), pages 205-207.
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