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Larry Epstein

A chapter in Value and Capital: Fifty Years Later, 1991, pp 268-278 from Palgrave Macmillan

Abstract: Abstract Professor Hall has synthesised the results of a wide variety of studies on intertemporal substitution in production and consumption and has proceeded to propose a view of macroeconomic fluctuations that fits nicely into the temporary equilibrium framework of Value and Capital. As Hall points out, some of the evidence regarding the degree of intertemporal substitution is far from definitive. His chapter will undoubtedly help to stimulate and focus further research into the unresolved empirical questions.

Keywords: Risk Aversion; Labour Supply; Relative Risk Aversion; Certainty Equivalent; Additive Utility (search for similar items in EconPapers)
Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-11029-2_17

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DOI: 10.1007/978-1-349-11029-2_17

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