RDP 2003-09: Housing Leverage in Australia
Equation (2)
T
i
∗
=
Z
1
i
γ
1
+
e
1
i
M
i
∗
=
Z
2
i
γ
2
+
λ
T
γ
3
+
e
2
i
l
e
v
i
=
X
i
β
+
λ
1
α
1
+
λ
2
α
2
+
ν
i
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