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RDP 2016-12: The Household Cash Flow Channel of Monetary Policy
Equation
ln
(
C
i
j
t
D
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=
β
j
ln
(
Y
i
j
t
C
F
)
+
γ
j
C
O
N
T
R
O
L
S
i
j
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+
θ
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+
ε
i
j
t
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaaeiBaiaab6gadaqadaqaaiaadoeadaqhaaWcbaGaamyAaiaadQgacaWG0baabaGaamiraaaaaOGaayjkaiaawMcaaiabg2da9iabek7aInaaCaaaleqabaGaamOAaaaakiaabYgacaqGUbWaaeWaaeaacaWGzbWaa0baaSqaaiaadMgacaWGQbGaamiDaaqaaiaadoeacaWGgbaaaaGccaGLOaGaayzkaaGaey4kaSIaeq4SdC2aaWbaaSqabeaacaWGQbaaaOGaam4qaiaad+eacaWGobGaamivaiaadkfacaWGpbGaamitaiaadofadaWgaaWcbaGaamyAaiaadQgacaWG0baabeaakiabgUcaRiabeI7aXnaaBaaaleaacaWGPbGaamOAaaqabaGccqGHRaWkcqaH1oqzdaWgaaWcbaGaamyAaiaadQgacaWG0baabeaaaaa@623C@