IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Consommation, effet de substitution intertemporelle et formation des habitudes

Listed author(s):
  • Auray, Stéphane


    (GREDI, Université de Sherbrooke, CIRPÉE, EQUIPPE, CNRS-MESHS, Universités Lille Nord de France (ULCO))

This article discusses the role of the intertemporal substitution mechanism in consumption. After noting that this mechanism is central for several monetary models but, being too strong, it generally tends to reduce the ability of these models to reproduce the stylized monetary facts, it discusses the state of knowledge about the relationship between consumption and the intertemporal substitution effect. The interest of the hypothesis of habit persistence in consumption behaviour is analyzed using a simple model of intertemporal choice to show that this assumption allows weakening the intertemporal substitution mechanism, and consequently, improve the dynamic properties of the common monetary models. Résumé : Cet article discute du rôle du mécanisme de substitution intertemporelle dans le comportement de consommation des ménages. Après avoir constaté que ce mécanisme est au coeur de plusieurs modèles monétaires mais, qu’étant trop fort, il tend généralement à réduire la capacité de ces modèles à reproduire les faits stylisés monétaires, je dresse un bilan de l’état des connaissances sur le lien entre consommation et effet de substitution intertemporelle. L’intérêt de l’hypothèse de persistance des habitudes dans le comportement de consommation est analysée à l’aide d’un modèle simple de choix intertemporels pour montrer que cette hypothèse permet d’affaiblir le mécanisme de substitution intertemporelle, et par voie de conséquence, d’améliorer les propriétés dynamiques des modèles monétaires usuels.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
File Function: Full text
Download Restriction: no

Article provided by Société Canadienne de Science Economique in its journal L'Actualité Economique.

Volume (Year): 85 (2009)
Issue (Month): 4 (décembre)
Pages: 437-473

in new window

Handle: RePEc:ris:actuec:0026
Contact details of provider: Web page:

More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:ris:actuec:0026. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Bruce Shearer)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.