Estimating intertemporal substitution in Japan
AbstractIn this study, the intertemporal elastisity of substitution (IES) by consumers in Japan is estimated using the two-step estimating method used by Ogaki and Reinhart (Journal of Political Economy, 106, pp. 1079-98, 1998). This method is estimating the IES in consideration of intratemporal substitution between durables and nondurables. Consequently, the acquired estimated values are larger than the US values used by Ogaki and Reinhart.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics Letters.
Volume (Year): 11 (2004)
Issue (Month): 4 ()
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