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RDP 8808: Consumption and Permanent Income: The Australian Case
Equation (6)
where
R
t
+
s
=
Π
n
=
0
s
(
1
+
r
t
+
s
)
(
1
+
r
t
+
n
)
−
1
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaqbaeqabeGaaa qaaiaabEhacaqGObGaaeyzaiaabkhacaqGLbaabaGaaeOuamaaBaaa leaacaqG0bGaey4kaSIaae4CaaqabaGccqGH9aqpdaqeWbqaaiaacI cacaaIXaGaey4kaSIaaeOCamaaBaaaleaacaqG0bGaey4kaSIaae4C aaqabaGccaGGPaGaaiikaiaaigdacqGHRaWkcaqGYbWaaSbaaSqaai aabshacqGHRaWkcaqGUbaabeaakiaacMcadaahaaWcbeqaaiabgkHi TiaaigdaaaaabaGaaeOBaiabg2da9iaaicdaaeaacaqGZbaaniabg+ Givdaaaaaa@550A@