Skip to content
RDP 2016-04: Housing Prices, Mortgage Interest Rates and the Rising Share of Capital Income in the United States
Equation
(
P
H
P
)
m
s
t
=
β
I
N
E
L
A
S
T
I
C
m
s
∗
D
E
R
E
G
s
t
+
γ
C
O
N
T
R
O
L
S
m
s
t
+
λ
s
t
+
ε
m
s
t
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=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@670D@