RDP 9209: Financial Liberalisation and Consumption Behaviour
Equation (16)
Δ
ln
C
t
=
μ
′
+λ
1
Δ
ln
y
^
t
+
+
λ
2
Δ
ln
y
^
t
−
+
(
1
−
λ
)
ω
t
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