Skip to content
RDP 8808: Consumption and Permanent Income: The Australian Case
Equation
where
ε
t
=
Σ
s
=
0
∞
R
t
+
s
(
E
t
Y
t
+
s
−
E
t
−
1
Y
t
+
s
)
and
R
t
+
s
h
=
Π
n
=
0
s
(
1
+
r
t
+
s
h
)
(
1
+
r
t
+
n
h
)
−
1
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaqbaeaabiGaaa qaaiaabEhacaqGObGaaeyzaiaabkhacaqGLbaabaGaeqyTdu2aaSba aSqaaiaabshaaeqaaOGaeyypa0ZaaabCaeaacaqGsbWaaSbaaSqaai aabshacqGHRaWkcaqGZbaabeaakiaacIcacaqGfbWaaSbaaSqaaiaa bshaaeqaaOGaaeywamaaBaaaleaacaqG0bGaey4kaSIaae4Caaqaba GccqGHsislcaqGfbWaaSbaaSqaaiaabshacqGHsislcaaIXaaabeaa kiaabMfadaWgaaWcbaGaaeiDaiabgUcaRiaabohaaeqaaOGaaiykaa WcbaGaae4Caiabg2da9iaaicdaaeaacqGHEisPa0GaeyyeIuoaaOqa aiaabggacaqGUbGaaeizaaqaaiaabkfadaqhaaWcbaGaaeiDaiabgU caRiaabohaaeaacaqGObaaaOGaeyypa0ZaaebCaeaacaGGOaGaaGym aiabgUcaRiaabkhadaqhaaWcbaGaaeiDaiabgUcaRiaabohaaeaaca qGObaaaOGaaiykaiaacIcacaaIXaGaey4kaSIaaeOCamaaDaaaleaa caqG0bGaey4kaSIaaeOBaaqaaiaabIgaaaGccaGGPaWaaWbaaSqabe aacqGHsislcaaIXaaaaaqaaiaab6gacqGH9aqpcaaIWaaabaGaae4C aaqdcqGHpis1aaaaaaa@784D@