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Sato's Insight on the Relationship between the Frisch 'Parameter' and the Average Elasticity of Substitution

Alan Powell

Centre of Policy Studies/IMPACT Centre Working Papers from Victoria University, Centre of Policy Studies/IMPACT Centre

Abstract: This short note demonstrates that Sato's 1972 insight concerning the equivalence between Frisch's 'money flexibility' parameter and the average elasticity of substitution among commodities needs to be modified if it is to be applied to non-homothetic utility functions. Fortunately the modification is easily implemented.

JEL-codes: D12 (search for similar items in EconPapers)
Date: 1992-01
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https://www.copsmodels.com/ftp/workpapr/g-99.pdf Initial version, 1992-01 (application/pdf)
https://www.copsmodels.com/elecpapr/g-99.htm Local abstract: may link to additional material. (text/html)

Related works:
Journal Article: Sato's insight on the relationship between the Frisch 'parameter' and the average elasticity of substitution (1992) Downloads
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