Flavin, Marjorie - In: CESifo economic studies : CESifo, a joint initiative of … 58 (2012) 3, pp. 471-494
When utility depends on a single, frictionlessly adjustable consumption good, the household's willingness to substitute consumption intertemporally is solely determined by the curvature of the utility function. When the utility specification is generalized from one good to two, however, the...
