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RDP 2016-12: The Household Cash Flow Channel of Monetary Policy
Equation (4)
X
i
t
=
β
X
M
i
t
+
γ
C
O
N
T
R
O
L
S
i
t
+
μ
i
+
λ
t
+
ν
i
t
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaamiwamaaBaaaleaacaWGPbGaamiDaaqabaGccqGH9aqpcqaHYoGydaWgaaWcbaGaamiwaaqabaGccaWGnbWaaSbaaSqaaiaadMgacaWG0baabeaakiabgUcaRiabeo7aNjaadoeacaWGpbGaamOtaiaadsfacaWGsbGaam4taiaadYeacaWGtbWaaSbaaSqaaiaadMgacaWG0baabeaakiabgUcaRiabeY7aTnaaBaaaleaacaWGPbaabeaakiabgUcaRiabeU7aSnaaBaaaleaacaWG0baabeaakiabgUcaRiabe27aUnaaBaaaleaacaWGPbGaamiDaaqabaaaaa@5707@