RDP 9202: Some Tests of Competition in the Australian Housing Loan Market
Equation (11)
q
2
t
=
γ
20
+
β
21
q
1
,
t
−
1
+
β
23
q
3
,
t
−
1
+
β
24
q
4
,
t
−
1
+
β
25
q
5
,
t
−
1
+
β
26
q
6
,
t
−
1
+
γ
21
r
2
h
,
t
−
1
+
γ
22
r
b
i
l
l
,
t
−
1
+
∑
i
=
1
11
δ
2
i
D
i
t
+
η
2
D
J
89
t
+
ε
2
t
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