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RDP 8808: Consumption and Permanent Income: The Australian Case
Equation
Δ
C
t
=
(
1
−
Ω
)
Δ
Y
t
+
(
γ
−
1
)
(
C
t
−
1
−
(
1
−
Ω
)
Y
t
−
1
)
+
μ
t
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaeuiLdqKaae 4qamaaBaaaleaacaqG0baabeaakiabg2da9iaacIcacaaIXaGaeyOe I0IaeuyQdCLaaiykaiabfs5aejaabMfadaWgaaWcbaGaaeiDaaqaba GccqGHRaWkcaGGOaGaeq4SdCMaeyOeI0IaaGymaiaacMcacaGGOaGa ae4qamaaBaaaleaacaqG0bGaeyOeI0IaaGymaaqabaGccqGHsislca GGOaGaaGymaiabgkHiTiabfM6axjaacMcacaqGzbWaaSbaaSqaaiaa bshacqGHsislcaaIXaaabeaakiaacMcacqGHRaWkcqaH8oqBdaWgaa WcbaGaaeiDaaqabaaaaa@59B9@