A look to financial economics has since added another wrinkle, by pointing to the need to separate risk aversion from intertemporal substitution to calibrate real-world behavior, at times lowering ...

Citations: Vissing-Jorgensen, Annette, Orazio Attanasio. 2003. Stock Market Participation, Intertemporal Substitution and Risk Aversion. American Economic Review ...

The workbook sets up the Lucas-Rapping Intertemporal Labor Substitution Model that underlies Real Business Cycle Theory and purports to explain cyclical macro behavior as fluctuations in labor supply.

How does the anticipated connectedness between one’s current and future identity help explain impatience in intertemporal preferences? The less consumers are closely connected psychologically to their ...