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RDP 8809: The Intertemporal Government Budget Constraint and Tests for Bubbles
Equation (5)
b
t
=
s
t
+
[
(
1
+
y
t
)
(
1
+
p
t
)
/
(
1
+
i
t
)
]
b
t
+
1
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaqbaeaabeqbaa aabaGaaeOyamaaBaaaleaacaqG0baabeaaaOqaaiabg2da9aqaaiaa bohadaWgaaWcbaGaaeiDaaqabaaakeaacqGHRaWkaeaacaGGBbGaai ikaiaaigdacqGHRaWkcaqG5bWaaSbaaSqaaiaabshaaeqaaOGaaiyk aiaacIcacaaIXaGaey4kaSIaaeiCamaaBaaaleaacaqG0baabeaaki aacMcacaGGVaGaaiikaiaaigdacqGHRaWkcaqGPbWaaSbaaSqaaiaa bshaaeqaaOGaaiykaiaac2faaaGaaeOyamaaBaaaleaacaqG0bGaey 4kaSIaaGymaaqabaaaaa@5181@