We present estimates of the Elasticity of Intertemporal Substitution (EIS) for Iranian households using synthetic cohort panels based on household micro-data. Results show significant difference with the common values used in Dynamic Stochastic General Equilibrium (DSGE) models which are originally based on estimated values for developed countries. We show that this difference has important theoretical and practical implications. In a simple Real Business Cycle (RBC) setting using the estimated values rather than the common values will help explain 33% more of consumption volatility. We also study the role of EIS in the consumption response to a monetary shock in a Smets & Wouters (2003) model as a benchmark for New-Keynesian monetary models. Results indicate that the monetary policy shock has less impact on consumption in a country with lower elasticity of intertemporal substitution. JEL Classification: D91, E21
- شنبه ۱۶ دی ۱۴۰۲
- ۲:۵۸ ب٫ظ
- بدون نظر
- کدخبر:11089
- حوزه: مسعود نیلی, مقالاتآکادمیک | نیلی
Elasticity of Intertemporal Substitution: An Investigation in Iran
Elasticity of Intertemporal Substitution: An Investigation in Iran(مقاله علمی وزارت علوم)
نویسنده: مجید عینیان مسعود نیلی
منبع: Journal of Money and Economy, Vol. ۱۱, No. ۲, Spring ۲۰۱۶ 207-223
در facebook به اشتراک بگذارید
در twitter به اشتراک بگذارید
در telegram به اشتراک بگذارید
در whatsapp به اشتراک بگذارید
در print به اشتراک بگذارید
لینک کوتاه خبر:
https://en360.ir/?p=11089
- برچسب ها: اقتصاددان, مسعود نیلی, مقاله
- پربازدیدترین ها
- داغ ترین ها
![](https://charsooeghtesad.ir/wp-content/uploads/2021/12/afzoneha_com_ads09.gif)
![](https://charsooeghtesad.ir/wp-content/uploads/2021/12/afzoneha_com_ads04.gif)