RDP 2000-09: Consumption and Wealth Equation (4)

Δ c t = α 0 + ∑ j=1 p α j Δ c t−j + ∑ j=0 p ϕ j Δ y t−j + ∑ j=0 p φ j Δ w t−j + ∑ j=0 p θ j z t−j + δ( c t−1 − γ 1 y t−1 )+ ε t MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGceaGabeaacqqHuo arcaWGJbWaaSbaaSqaaiaadshaaeqaaOGaeyypa0JaeqySde2aaSba aSqaaiaaicdaaeqaaOGaey4kaSYaaabmaeaacqaHXoqydaWgaaWcba GaamOAaaqabaaabaGaamOAaiabg2da9iaaigdaaeaacaWGWbaaniab ggHiLdGccqqHuoarcaWGJbWaaSbaaSqaaiaadshacqGHsislcaWGQb aabeaakiabgUcaRmaaqadabaGaeqy1dy2aaSbaaSqaaiaadQgaaeqa aaqaaiaadQgacqGH9aqpcaaIWaaabaGaamiCaaqdcqGHris5aOGaeu iLdqKaamyEamaaBaaaleaacaWG0bGaeyOeI0IaamOAaaqabaGccqGH RaWkdaaeWaqaaiabeA8aQnaaBaaaleaacaWGQbaabeaakiabfs5aej aadEhadaWgaaWcbaGaamiDaiabgkHiTiaadQgaaeqaaaqaaiaadQga cqGH9aqpcaaIWaaabaGaamiCaaqdcqGHris5aOGaey4kaSYaaabmae aacqaH4oqCdaWgaaWcbaGaamOAaaqabaaabaGaamOAaiabg2da9iaa icdaaeaacaWGWbaaniabggHiLdGccaWG6bWaaSbaaSqaaiaadshacq GHsislcaWGQbaabeaakiabgUcaRaqaaiabes7aKjaacIcacaWGJbWa aSbaaSqaaiaadshacqGHsislcaaIXaaabeaakiabgkHiTiabeo7aNn aaBaaaleaacaaIXaaabeaakiaadMhadaWgaaWcbaGaamiDaiabgkHi TiaaigdaaeqaaOGaaiykaiabgUcaRiabew7aLnaaBaaaleaacaWG0b aabeaaaaaa@8959@