caa a22 4500 47579771X CHVBK 20180406123729.0 cr unu---uuuuu 170329e20000201xx s 000 0 eng 10.1007/BF01231489 doi (NATIONALLICENCE)springer-10.1007/BF01231489 Kamihigashi Takashi Department of Economics, State University of New York at Stony Brook, 11794-4384, Stony Brook, NY, USA aut Increasing marginal impatience and intertemporal substitution [Elektronische Daten] [Takashi Kamihigashi] For infinite-horizon models with recursive preferences the condition known as increasing marginal impatience is often adopted, but the condition is not fully understood in the literature. This paper shows that increasing marginal impatience is equivalent to the intuitive property that the substitutability between the consumption levels in two different periods is a decreasing function of the distance between the periods. Springer-Verlag, 2000 Recursive preferences nationallicence increasing marginal impatience nationallicence local substitution nationallicence elasticity of substitutability nationallicence durable consumption nationallicence D90 nationallicence Journal of Economics Springer-Verlag 72/1(2000-02-01), 67-79 0931-8658 72:1<67 2000 72 712 https://doi.org/10.1007/BF01231489 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/BF01231489 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Kamihigashi Takashi Department of Economics, State University of New York at Stony Brook, 11794-4384, Stony Brook, NY, USA aut NATIONALLICENCE 773 0- Journal of Economics Springer-Verlag 72/1(2000-02-01), 67-79 0931-8658 72:1<67 2000 72 712 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer