TY  - RPRT
AB  - In this paper we investigate the relationship between within-period preferences and the degree of intertemporal substitution. We first present a theoretical discussion which argues that the form of within-period preferences and the way these differ across consumers may have important consequences for the formulation and specification of intertemporal models. We then apply this methodology to a detailed study of disaggregate household expenditure patterns using a pooled cross-section of some 70,000 households across 15 years. Our objective is to assess the degree of intertemporal substitution across different household types avoiding aggregation bias and accounting for nonadditive within-period preferences and nonlinearity in Engel curves. 
AU  - Blundell, Richard
AU  - Browning, Martin
AU  - Meghir, Costas
DA  - 1989-08-08
DA  - 1989
DO  - 10.22004/ag.econ.268358
DO  - doi
ID  - 268358
KW  - Consumer/Household Economics
KW  - Demand and Price Analysis
KW  - Financial Economics
L1  - https://ageconsearch.umn.edu/record/268358/files/twerp324.pdf
L2  - https://ageconsearch.umn.edu/record/268358/files/twerp324.pdf
L4  - https://ageconsearch.umn.edu/record/268358/files/twerp324.pdf
LA  - eng
LA  - English
LK  - https://ageconsearch.umn.edu/record/268358/files/twerp324.pdf
N2  - In this paper we investigate the relationship between within-period preferences and the degree of intertemporal substitution. We first present a theoretical discussion which argues that the form of within-period preferences and the way these differ across consumers may have important consequences for the formulation and specification of intertemporal models. We then apply this methodology to a detailed study of disaggregate household expenditure patterns using a pooled cross-section of some 70,000 households across 15 years. Our objective is to assess the degree of intertemporal substitution across different household types avoiding aggregation bias and accounting for nonadditive within-period preferences and nonlinearity in Engel curves. 
PY  - 1989-08-08
PY  - 1989
T1  - A Microeconometric Model of Intertemporal Substitution and Consumer Demand 
TI  - A Microeconometric Model of Intertemporal Substitution and Consumer Demand 
UR  - https://ageconsearch.umn.edu/record/268358/files/twerp324.pdf
Y1  - 1989-08-08
ER  -