RDP 2013-05: Liquidity Shocks and the US Housing Credit Crisis of 2007–2008 Equation

Δ L i j = ( η ¯ + η j ) ( α + γ ) + γ ( δ ¯ + δ i ) ( α + γ ) MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYfdmGievaebbnrfi fHhDYfgasaacH8srps0lbbf9q8WrFfeuY=Hhbbf9v8qqaqFr0xc9pk 0xbba9q8WqFfea0=yr0RYxir=Jbba9q8aq0=yq=He9q8qqQ8frFve9 Fve9Ff0dmeaabaqaciGacaGaaeqabaWaaeaaeaaakeaacqqHuoarca WGmbWaa0baaSqaaiaadMgacaWGQbaabaGaey4fIOcaaOGaeyypa0Za aSaaaeaadaqadaqaaiqbeE7aOzaaraGaey4kaSIaeq4TdG2aaSbaaS qaaiaadQgaaeqaaaGccaGLOaGaayzkaaaabaWaaeWaaeaacqaHXoqy cqGHRaWkcqaHZoWzaiaawIcacaGLPaaaaaGaey4kaSYaaSaaaeaacq aHZoWzdaqadaqaaiqbes7aKzaaraGaey4kaSIaeqiTdq2aaSbaaSqa aiaadMgaaeqaaaGccaGLOaGaayzkaaaabaWaaeWaaeaacqaHXoqycq GHRaWkcqaHZoWzaiaawIcacaGLPaaaaaaaaa@57FF@