RDP 9202: Some Tests of Competition in the Australian Housing Loan Market
Equation (15)
q
6
t
=
γ
60
+
β
61
q
1
,
t
−
1
+
β
62
q
2
,
t
−
1
+
β
63
q
3
,
t
−
1
+
β
64
q
4
,
t
−
1
+
β
65
q
5
,
t
−
1
+
γ
61
r
1
h
,
t
−
1
+
γ
62
r
b
i
l
l
,
t
−
1
+
∑
i
=
1
11
δ
6
i
D
i
t
+
η
6
D
J
89
t
+
ε
6
t
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGceaqabeaacaWGXb WaaSbaaSqaaiaaiAdacaWG0baabeaakiabg2da9iaabo7adaWgaaWc baGaaGOnaiaaicdaaeqaaOGaey4kaSIaiqhGbk7adaWgaaWcbaGaaG OnaiaaigdaaeqaaOGaamyCamaaBaaaleaacaaIXaGaaiilaiaadsha cqGHsislcaaIXaaabeaakiabgUcaRiaabk7adaWgaaWcbaGaaGOnai aaikdaaeqaaOGaamyCamaaBaaaleaacaaIYaGaaiilaiaadshacqGH sislcaaIXaaabeaakiabgUcaRiaabk7adaWgaaWcbaGaaGOnaiaaio daaeqaaOGaamyCamaaBaaaleaacaaIZaGaaiilaiaadshacqGHsisl caaIXaaabeaakiabgUcaRiaabk7adaWgaaWcbaGaaGOnaiaaisdaae qaaOGaamyCamaaBaaaleaacaaI0aGaaiilaiaadshacqGHsislcaaI XaaabeaakiabgUcaRiaabk7adaWgaaWcbaGaaGOnaiaaiwdaaeqaaO GaamyCamaaBaaaleaacaaI1aGaaiilaiaadshacqGHsislcaaIXaaa beaaaOqaaiabgUcaRiaabo7adaWgaaWcbaGaaGOnaiaaigdaaeqaaO GaamOCamaaBaaaleaacaaIXaGaamiAaiaacYcacaWG0bGaeyOeI0Ia aGymaaqabaGccqGHRaWkcaqGZoWaaSbaaSqaaiaaiAdacaaIYaaabe aakiaadkhadaWgaaWcbaGaamOyaiaadMgacaWGSbGaamiBaiaacYca caWG0bGaeyOeI0IaaGymaaqabaGccqGHRaWkdaaeWbqaaiaabs7ada WgaaWcbaGaaGOnaiaadMgaaeqaaOGaamiramaaBaaaleaacaWGPbGa amiDaaqabaGccqGHRaWkcaqG3oWaaSbaaSqaaiaaiAdaaeqaaOGaam iraiaadQeacaaI4aGaaGyoamaaBaaaleaacaWG0baabeaakiabgUca Riabew7aLnaaBaaaleaacaaI2aGaamiDaaqabaaabaGaamyAaiabg2 da9iaaigdaaeaacaaIXaGaaGymaaqdcqGHris5aaaaaa@99F5@