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La elasticidad de sustitución intertemporal y el consumo duradero: un análisis para el caso español

  • Elena Márquez de la Cruz

    (Universidad Complutense de Madrid)

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    La elasticidad de sustitución intertemporal es uno de los parámetros de preferencias clave en los modelos macroeconómicos intertemporales. Diversos estudios han puesto de manifiesto una posible subestimación de ésta para el caso de distintos países. Es práctica habitual estimar el citado parámetro empleando únicamente datos de consumo de bienes no duraderos y servicios, omitiendo los flujos de servicios que el consumo duradero genera. Este modo de proceder sólo es admisible si la utilidad intratemporal es separable entre los diferentes componentes del consumo. Contrastar tal separabilidad para el caso español es uno de los objetivos de este trabajo, además de analizar la incidencia que la consideración del consumo duradero tiene sobre los valores estimados de la elasticidad de sustitución intertemporal.

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    Article provided by Fundación SEPI in its journal Investigaciones Economicas.

    Volume (Year): 29 (2005)
    Issue (Month): 3 (September)
    Pages: 455-481

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    Handle: RePEc:iec:inveco:v:29:y:2005:i:3:p:455-481
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