One of the important determinants of the response of saving and consumption to the real interest rate is the elasticity of intertemporal substitution. That elasticity can be measured by the response ...

This is a preview. Log in through your library . Journal Information Founded in 1933 by a group of young British and American economists, The Review of Economic Studies aims to encourage research in ...

Empirical evidence indicates that the elasticity of capital-labor substitution for the aggregate U.S. economy is below unity. In contrast, the existing indeterminacy literature has mostly restricted ...

Citations: Nevo, Aviv, Arlene Wong. 2014. The Elasticity of Substitution between Time and Market Goods: Evidence from the Great Recession.

Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation Most macroeconomic models assume that aggregate output is generated by a specification for the production function with ...

We estimate the upper-level elasticity of substitution between goods and services of a nested aggregate CES preference specification. We show how this elasticity can be derived from the long-run ...