On the Intertemporal Elasticity of Substitution under Nonhomothetic Utility
β Scribed by MASAKATSU OKUBO
- Book ID
- 109146907
- Publisher
- John Wiley and Sons
- Year
- 2008
- Tongue
- English
- Weight
- 72 KB
- Volume
- 40
- Category
- Article
- ISSN
- 0022-2879
No coin nor oath required. For personal study only.
π SIMILAR VOLUMES
Many empirical tests of the intertemporal substitution theory of labor market fluctuations have assumed that shocks to the labor demand curve are the sole source of variance in hours and wages. We show that conclusions based on these tests are very sensitive to small deviations from this extreme cas
## SUMMARY This narrow replication exercise of Yogo (__Review of Economics and Statistics__ 2004; **86**(3): 797β810) finds results identical to the original paper, and provides results on overidentification tests for specifications that do not suffer from the weak instruments problem. The null hyp