Elasticity of substitution

Acronym

Definition

ESUB

Elasticity of Substitution (economics)

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As pointed out by Correia, Neves, and Rebelo (1995), the ability of this class of models to mimic key international indicators of a small open economy depends crucially on adopting the period utility function, postulated by Greenwood, Hercowitz, and Huffman (GHH) (1988), whereby there is no income effect associated with the household's labor supply decision and the representative household's intertemporal elasticity of substitution in hours worked (or leisure) is zero. Reexamination of real business cycles in a small open economy by Guo, Jang-Ting; Janko, Zuzana / Southern Economic Journal It could arise if caring for children is a "luxury good; if more educated parents have a lower elasticity of substitution between own and market-based child care (or just a higher relative preference for time spent with their children), or if the returns to investing in the children of more educated parents are relatively higher. Teen and non-marital childbearing by Kearney, Melissa S. / NBER Reporter Factor demand comes from a very general specification of the production function and from weak assumptions, mainly the local approximation of the production function using a constant elasticity of substitution (CES) and constant returns to scale. What explains the ICT diffusion gap between the major advanced ... by Cette, Gilbert; Lopez, Jimmy / International Productivity Monitor	ELAM-1 ELAM1 ELAMOD ELAMP ELAMS ELAN ELAND ELANOR ELANT ELANY ELAO ELAOC ELAP ELAPP ELAPS ELAR ELARA ELARC ELARD ELAS ELASA ELASC ELASH ELAST ELASTIC Elasticity of substitution ELAT ELATT ELAV ELAW ELAWG ELAWS ELB ELB ACTD ELBA ELBACTD ELBARN ELBC ELBD ELBERT ELBF ELBG ELBL ELBP ELBR ELBRU ELBS ELBV ELBW ELBWI ELBWO	elasticises elasticises elasticises elasticises elasticising elasticising elasticising elasticising elasticising Elasticita Elasticite de la demande elasticity elasticity elasticity elasticity elasticity Elasticity (economics) Elasticity (physics) elasticity modulus elasticity number 1 elasticity number 2 Elasticity of an option Elasticity of Consumption and Demand Elasticity of demand Elasticity of demand Elasticity of demand Elasticity of demand Elasticity of demand Elasticity of Demand and Supply elasticity of shear Elasticity of substitution Elasticity of supply Elasticity of Supply and Demand elasticity of, physical muscle elasticity of, physical muscle elasticity of, physical muscle elasticity of, physiologic muscle elasticity of, physiologic muscle elasticity of, physiologic muscle Elasticity, Theory of Elasticity-Buffer and Link Management elasticize elasticize elasticize elasticize elasticize elasticized elasticized elasticized elasticized elasticized elasticizes elasticizes elasticizes elasticizes elasticizes elasticizing elasticizing elasticizing elasticizing elasticizing

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As pointed out by Correia, Neves, and Rebelo (1995), the ability of this class of models to mimic key international indicators of a small open economy depends crucially on adopting the period utility function, postulated by Greenwood, Hercowitz, and Huffman (GHH) (1988), whereby there is no income effect associated with the household's labor supply decision and the representative household's intertemporal elasticity of substitution in hours worked (or leisure) is zero.

Reexamination of real business cycles in a small open economy by Guo, Jang-Ting; Janko, Zuzana / Southern Economic Journal

It could arise if caring for children is a "luxury good; if more educated parents have a lower elasticity of substitution between own and market-based child care (or just a higher relative preference for time spent with their children), or if the returns to investing in the children of more educated parents are relatively higher.

Teen and non-marital childbearing by Kearney, Melissa S. / NBER Reporter

Factor demand comes from a very general specification of the production function and from weak assumptions, mainly the local approximation of the production function using a constant elasticity of substitution (CES) and constant returns to scale.

What explains the ICT diffusion gap between the major advanced ... by Cette, Gilbert; Lopez, Jimmy / International Productivity Monitor