RDP 9602: Consumption and Liquidity Constraints in Australia and East Asia: Does Financial Integration Matter?
Equation (5)
c
^
t
=
β
0
+
β
1
r
t
−
1
−
β
2
ζ
t
−
1
+
λ
¯
t
−
1
+
ε
¯
t
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