Measuring the Intertemporal Elasticity of Substitution for Consumption: Some Evidence from Japan
Measuring the Intertemporal Elasticity of Substitution for Consumption: Some Evidence from Japan
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衡量消费替代的跨期弹性：来自日本的一些证据
DOI：
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发表时间：
2010
期刊：
影响因子：
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通讯作者：
S. Sugiyama
中科院分区：
文献类型：
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作者：
Akihiko Noda;S. Sugiyama
本文的目的是提出改进的跨期替代弹性（IES）的估计，日本假设一个恒定的相对风险厌恶（CRRA）效用函数。当我们使用季度消费数据和持续更新估计器（CUE）时，我们获得的IES估计值范围为0.2至0.5。我们发现，IES是弱识别时，我们采用两步GMM估计，而CUE可以识别IES。此外，我们还发现，使用不同频率的消费数据会导致对IES的不同估计。
The purpose of this paper is to present improved estimates of the intertemporal elasticity of substitution (IES) for Japan assuming a constant relative risk aversion (CRRA) utility function. The estimates of the IES we obtain range from 0.2 to 0.5 when we use quarterly consumption data and the Continuous Updating Estimator (CUE). We find that the IES is weakly identified when we employ the two-step GMM estimator, while the CUE can identify the IES. Moreover, we also find that using consumption data of different frequencies leads to quite different estimates of the IES.
日本的收入不平等、地区贫困、对不平等的厌恶感和健康自评
DOI：
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发表时间：
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期刊：
Social Science & Medicine, forthcoming
影响因子：
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作者：
Takashi Oshio;Akiko Sato Oishi;and Satoshi Shimizutani;Takashi Oshio and Satoshi Shimizutani;Masaya Yasuoka and Takashi Oshio;Masaya Yasuoka and Naohisa Goto;Masaya Yasuoka and Atsushi Miyake;Masaya Yasuoka and Atsushi Miyake;安岡匡也;Takashi Oshio;Takashi Oshio;Takashi Oshio;Masaya Yasuoka;Masaya Yasuoka;Masaya Yasuoka;Masaya Yasuoka;安岡 匡也;安岡 匡也;Masaya Yasuoka;Mari Kan;Takashi Oshio and Kunio Urakawa;Masaya Yasuoka and Atsushi Miyake;Takashi Oshio;Takashi Oshio;Masaya Yasuoka;菅 万理;Mari Kan;Takashi Oshio and Miki Kobayashi
通讯作者：
Takashi Oshio and Miki Kobayashi