Ogaki, Masao; Atkeson, Andrew - In: The Review of Economics and Statistics 79 (1997) 4, pp. 564-572
The rate of time preference (RTP) and the intertemporal elasticity of substitution (IES) are two important factors shaping intertemporal consumption decisions. Models in which the RTP and/or the IES differ systematically between rich and poor households have different empirical and policy...