Since 2014
Intertemporal Substitution in Consumption: An American Investigation for Brazil
Brazilian Review of Econometrics
View Archive Info| Field | Value | |
| Title |
Intertemporal Substitution in Consumption: An American Investigation for Brazil
Intertemporal Substitution in Consumption: An American Investigation for Brazil |
|
| Creator |
Cavalcanti, Carlos B.; Ph.D in Economics from the University of Illinois at Urbana-Champaign, currently with the World Bank. The views and opinions expressed by the author are not those of the World Bank, or of its affiliated institutions.
|
|
| Subject |
—
— — — |
|
| Description |
This paper examines different formulations of the Euler equation in order to assess their magnitude of the intertemporal substitution effect in Brazil during the 1980. Estimates of the intertemporal elasticity of substitution for those consumers that are not liquidity constrained are statistically significant, but less than one. The result suggest that an increase in interest rates in Brazil during this period had both income and substitution effects.
O artigo examina formulações diferentes da equação de Euler com o objetivo de estimar o impacto da taxa de juros sobre o consumo no Brasil durante 1980. 0 coeficiente estimado de elasticidade de substituição intertemporal para os consumidores que não sofrem restrições à liquidez é estatísticamente significativo, mas menor do que a unidade. O resultado sugere que um aumento da taxa de juros no Brasil durante este período gerava tanto um efeito riqueza quanto um efeito substituição. |
|
| Publisher |
Brazilian Review of Econometrics
Brazilian Review of Econometrics |
|
| Date |
1993-11-02
|
|
| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion — — |
|
| Format |
application/pdf
|
|
| Identifier |
http://bibliotecadigital.fgv.br/ojs/index.php/bre/article/view/2982
|
|
| Source |
Brazilian Review of Econometrics; Vol 13, No 2 (1993); 203-229
Brazilian Review of Econometrics; Vol 13, No 2 (1993); 203-229 1980-2447 |
|
| Language |
eng
|
|
| Relation |
http://bibliotecadigital.fgv.br/ojs/index.php/bre/article/view/2982/1876
|
|