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• W3123753386 abstract "This paper examines the role of commodity own rates of interest in intertemporal analysis of consumer behaviour and presents a disaggregate analysis of intertemporal substitution in commodity demand and consumption. Commodity rates of interest are defined from the Euler equations implied by the intertemporal consumer choice problem. The relationship between commodity own rates and the real interest rate is derived, and the conditions for equality of commodity own rates are discussed. The intertemporal commodity substitution elasticities are characterised using commodity rates of interest, and the intertemporal substitution elasticity of consumption is derived from its constituent commodity demands. Evidence from estimation of the demand system and the consumption function reveals high intertemporal substitution for consumer goods as well as consumption." @default.
• W3123753386 created "2021-02-01" @default.
• W3123753386 creator A5076242241 @default.
• W3123753386 date "2004-06-01" @default.
• W3123753386 modified "2023-09-27" @default.
• W3123753386 title "Commodity Rates of Interest and Intertemporal Substitution in Commodity Demand and Consumption" @default.
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• W3123753386 doi "https://doi.org/10.1111/j.1467-8454.2004.00226.x" @default.
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