RDP 2013-04: Home Prices and Household Spending Equation (1)

ln ( t o t a l s p e n d i n g i t ) = ln ( ω i t ) + ln ( κ ( l i f e c y c l e i t ) ) + E i t . MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYfdmGievaebbnrfi fHhDYfgasaacH8srps0lbbf9q8WrFfeuY=Hhbbf9v8qqaqFr0xc9pk 0xbba9q8WqFfea0=yr0RYxir=Jbba9q8aq0=yq=He9q8qqQ8frFve9 Fve9Ff0dmeaabaqaciGacaGaaeqabaWaaeaaeaaakeaaciGGSbGaai OBamaabmaabaGaamiDaiaad+gacaWG0bGaamyyaiaadYgacaaMc8Ua am4CaiaadchacaWGLbGaamOBaiaadsgacaWGPbGaamOBaiaadEgada WgaaWcbaGaamyAaiaadshaaeqaaaGccaGLOaGaayzkaaGaeyypa0Ja ciiBaiaac6gadaqadaqaaiabeM8a3naaBaaaleaacaWGPbGaamiDaa qabaaakiaawIcacaGLPaaacqGHRaWkciGGSbGaaiOBamaabmaabaGa eqOUdS2aaeWaaeaacaWGSbGaamyAaiaadAgacaWGLbGaaGPaVlaado gacaWG5bGaam4yaiaadYgacaWGLbWaaSbaaSqaaiaadMgacaWG0baa beaaaOGaayjkaiaawMcaaaGaayjkaiaawMcaaiabgUcaRiaadweada WgaaWcbaGaamyAaiaadshaaeqaaOGaaiOlaaaa@697C@