RDP 2016-10: The Effect of Consumer Sentiment on Consumption Equation (2)

p i , j , t p o s = d e f Pr ( s i , j , t * > μ j , t h i g h ) = Pr ( ε i , j , t > μ j , t h i g h X i t Γ j , t ϕ j , t A L P i ) MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=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@7989@