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RDP 8808: Consumption and Permanent Income: The Australian Case
Equation
KD
t
=
(
1
−
a
0
)
KD
t
−
1
+
(
1
−
a
0
/
2
)
CD
t
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaae4saiaabs eadaWgaaWcbaGaaeiDaaqabaGccqGH9aqpcaGGOaGaaGymaiabgkHi TiaabggadaWgaaWcbaGaaGimaaqabaGccaGGPaGaae4saiaabseada WgaaWcbaGaaeiDaiabgkHiTiaaigdaaeqaaOGaey4kaSIaaiikaiaa igdacqGHsislcaqGHbWaaSbaaSqaaiaaicdaaeqaaOGaai4laiaaik dacaGGPaGaae4qaiaabseadaWgaaWcbaGaaeiDaaqabaaaaa@4CD3@