RDP 8808: Consumption and Permanent Income: The Australian Case Equation (3)

U (C t )= 1+r t 1+δ E t U (C t+1 ) MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaaeyvamaaCa aaleqabaaccaGae8NmGikaaOGaaeikaiaaboeadaWgaaWcbaGaaeiD aaqabaGccaqGPaGaaeypamaalaaabaGaaeymaiaabUcacaqGYbWaaS baaSqaaiaabshaaeqaaaGcbaGaaeymaiaabUcacaqG0oaaaiaabwea daWgaaWcbaGaaeiDaaqabaGccaqGvbWaaWbaaSqabeaacqWFYaIOaa GccaqGOaGaae4qamaaBaaaleaacaqG0bGaae4kaiaabgdaaeqaaOGa aeykaaaa@4BEB@