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Some $\lambda$-separable Frisch demands with utility functions

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  • Ligon, Ethan

Abstract

We complete the characterization of two Frisch demand systems first developed by \cite{Browning-etal85}, and show that that these systems (i) do not restrict intertemporal substitution; but (ii) imply momentary utility functions which are additively separable in consumption. These utility functions turn out to take the well-known exponential and Stone-Geary forms.

Suggested Citation

  • Ligon, Ethan, 2016. "Some $\lambda$-separable Frisch demands with utility functions," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt6p05c81z, Department of Agricultural & Resource Economics, UC Berkeley.
    • Handle: RePEc:cdl:agrebk:qt6p05c81z
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    1. Monika Mr?zov? & J. Peter Neary, 2014. "Together at Last: Trade Costs, Demand Structure, and Welfare," American Economic Review, American Economic Association, vol. 104(5), pages 298-303, May.
    2. Browning, Martin, 1986. "The costs of using Frisch demand functions that are additive in the marginal utility of expenditure," Economics Letters, Elsevier, vol. 21(3), pages 205-207.
    3. Richard Blundell & Martin Browning & Costas Meghir, 1994. "Consumer Demand and the Life-Cycle Allocation of Household Expenditures," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 61(1), pages 57-80.
    4. Michael Keane & Richard Rogerson, 2015. "Reconciling Micro and Macro Labor Supply Elasticities: A Structural Perspective," Annual Review of Economics, Annual Reviews, vol. 7(1), pages 89-117, 08.
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    1. Ligon, Ethan, 2016. "All λ-separable demands and rationalizing utility functions," Economics Letters, Elsevier, vol. 147(C), pages 16-18.

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    Keywords

    Social and Behavioral Sciences; Frisch demands; separability; intertemporal elasticity of substitution;
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