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

L i j t + 1 = 1 α + γ ( r ¯ j t + 1 + γ S i j t + 1 ϕ E i t + 1 ) MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYfdmGievaebbnrfi fHhDYfgasaacH8srps0lbbf9q8WrFfeuY=Hhbbf9v8qqaqFr0xc9pk 0xbba9q8WqFfea0=yr0RYxir=Jbba9q8aq0=yq=He9q8qqQ8frFve9 Fve9Ff0dmeaabaqaciGacaGaaeqabaWaaeaaeaaakeaacaWGmbWaa0 baaSqaaiaadMgacaWGQbGaamiDaiabgUcaRiaaigdaaeaacqGHxiIk aaGccqGH9aqpdaWcaaqaaiaaigdaaeaacqaHXoqycqGHRaWkcqaHZo WzaaWaaeWaaeaaceWGYbGbaebadaWgaaWcbaGaamOAaiaadshacqGH RaWkcaaIXaaabeaakiabgUcaRiabeo7aNjaadofadaWgaaWcbaGaam yAaiaadQgacaWG0bGaey4kaSIaaGymaaqabaGccqGHsislcqaHvpGz caWGfbWaaSbaaSqaaiaadMgacaWG0bGaey4kaSIaaGymaaqabaaaki aawIcacaGLPaaaaaa@57BC@