RDP 2016-10: The Effect of Consumer Sentiment on Consumption Equation (9)

Δ h log ( m v i , t + h ) = α h + β h A L P i 2007 + j γ j X i , j , h + ϕ h Δ h log ( i n c i , t + h ) + ε i , h MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=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@73B9@