Biederman, Daniel K.; Goenner, Cullen F. - In: Journal of Macroeconomics 30 (2008) 1, pp. 481-498
We construct a three-period model spanning 30 years of an optimizing consumer's life. Exploiting the first-order conditions, we derive expressions for the intertemporal elasticity of substitution (IES) that allow for different utility specifications; the case of isoelastic utility is a special...