RDP 2016-04: Housing Prices, Mortgage Interest Rates and the Rising Share of Capital Income in the United States
Equation (8)
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R
P
Y
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s
t
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β
1
I
N
T
R
A
T
E
s
t
+
β
2
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N
E
L
A
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C
s
∗
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N
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A
T
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+
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1
C
O
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R
O
L
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2
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N
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