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RDP 8808: Consumption and Permanent Income: The Australian Case
Equation
C
t
x
=
Y
t
Px
=
α
(
A
t
x
+
H
t
x
)
=
α
(
A
t
+
Ω
H
t
)
C
t
x
=
Y
t
v
=
(
1
−
Ω
)
Y
t
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