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RDP 2015-08: Housing Wealth Effects: Cross-sectional Evidence from New Vehicle Registrations
Equation (2)
Δ
c
i
,
06
−
11
=
α
+
β
¯
Δ
h
p
i
,
06
−
11
(
s
i
,
06
o
u
t
r
i
g
h
t
+
s
i
,
06
m
o
r
t
)
+
Σ
j
γ
j
X
i
j
+
ε
i
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