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

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  • Elena Márquez de la Cruz

    (Universidad Complutense de Madrid)

Abstract

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.

Suggested Citation

  • Elena Márquez de la Cruz, 2005. "La elasticidad de sustitución intertemporal y el consumo duradero: un análisis para el caso español," Investigaciones Economicas, Fundación SEPI, vol. 29(3), pages 455-481, September.
    • Handle: RePEc:iec:inveco:v:29:y:2005:i:3:p:455-481
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    1. José E. Boscá & Antonio Cutanda & Javier Escribá, 2006. "Efficiency in the provision of public and private capital in 15 OECD countries," Investigaciones Economicas, Fundación SEPI, vol. 30(2), pages 207-237, May.

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    More about this item

    Keywords

    No separabilidad intratemporal de las preferencias; elasticidad de sustitución intratemporal; elasticidad de sustitución intertemporal; consumo duradero y no duradero.;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates

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