intertemporal substitutionの例文

• In discrete-time models, the elasticity of substitution of consumption in periods t and t + 1 is known as elasticity of intertemporal substitution.
• In the Ramsey growth model, the elasticity of intertemporal substitution determines the speed of adjustment to the steady state and the behavior of the saving rate during the transition.
• Frequently used elasticities include price elasticity of demand, price elasticity of supply, income elasticity of demand, elasticity of substitution between factors of production and elasticity of intertemporal substitution.
• These assumptions imply that the elasticity of intertemporal substitution, and its inverse, costs of business cycles or evaluating a policy change in a dynamic general equilibrium model with heterogeneous agents.
• Importantly, unlike VNM utility functions ( e . g . isoelastic utility ), Epstein-Zin preferences allow the elasticity of intertemporal substitution ( determined above by \ rho ) to be unrelated to risk aversion ( determined above by \ alpha ).