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This paper explores the links between fiscal multipliers and household discount rates. We report evidence of a large and statistically significant relationship between reported rates of time preference across countries and the government expenditure multiplier. This study uses recent...
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exhibits a rising or non-monotonic pattern. In important cases, hyperbolic discounting, which is empirically strongly supported … model with Cobb-Douglas production technology. We also identify the cases where hyperbolic discounting is observationally … equivalent to exponential discounting. In those cases, hyperbolic discounting does not affect the saving rate dynamics. Numerical …
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: hyperbolic discounting and short planning horizons. We show that, in contrast to the commonly accepted argument, in general … (except for the special case of logarithmic utility) a model with hyperbolic discounting is not observationally equivalent to … one with exponential discounting. We also show that our framework implies a hump-shaped saving rate dynamics that is …
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