Intertemporal substitution and durable goods: Long-run data

Masao Ogaki, Carmen M. Reinhart

Research output: Contribution to journalArticlepeer-review

22 Citations (Scopus)


In this paper, we use long-run annual data to estimate the intertemporal elasticity of substitution while accounting for the intra-temporal substitution between nondurable consumption goods and durable consumption goods. We apply a two-step procedure that combines a cointegration approach to preference parameter estimation with Generalized Method of Moments.

Original languageEnglish
Pages (from-to)85-90
Number of pages6
JournalEconomics Letters
Issue number1
Publication statusPublished - 1998 Oct 1
Externally publishedYes


  • Cointegration
  • Durable Goods
  • E21
  • Generalized Method of Moments
  • Intertemporal Elasticity of Substitution

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics


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