We estimate the elasticity of intertemporal substitution (EIS) - the elasticity of expected consumption growth with … Consumer Expectations (SCE). This dataset is unique, since it includes consumers' expectations of both consumption growth and … subjective version of the consumption Euler equation, without having to take a stand on the process of expectation formation. Our …

Euler equation estimation of intertemporal consumption models imposes heavy demands on data and identifiability … conditions. For example, one typically needs panel data on consumption, assumptions on expectations, and a parameterization of … for the variation in consumption across households. Furthermore, estimates of the intertemporal elasticity of substitution …

Euler equation estimation of intertemporal consumption models requires many, often unverifiable assumptions. These … expectations have predictive power for the variation in consumption across households. Furthermore, estimates of the intertemporal …