Dynamique comparative et substitution intertemporelle. Une analyse dans les modèles de cycle de vie et d'équilibre intertemporel

Xavier Fairise ()

Annals of Economics and Statistics, 1998, issue 52, 249-281

Abstract: The aim of this article is to characterize the intertemporal substitution effects in the dynamical general equilibrium framework of the canonical real business cycle model. Precisely, we propose to extend the Lambda constant comparative dynamic results of the life cycle literature to a general equilibrium framework. This allows us to determine to what extent the frischian labor supply elasticity (the effect of a wage variation on the labor supply, the marginal utility of wealth Lambda being constant) used to characterize the intertemporal substitution effect in life cycle models also characterizes such an effect in real business cycle models.

Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:adr:anecst:y:1998:i:52:p:249-281

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