This paper compares the ability of four discount rate models to explain the cross-sectional and time-series variation …) A consumption CAPM model, linking the discount rate to the intertemporal marginal rate of substitution in consumption …, (2) A production CAPM model, linking the discount rate to the intertemporal marginal rate of transformation in production …

demand for movies per inhabitant. Furthermore, we test for the long run relationship and evaluate the elasticities of demand …