# LaTeX2HTML 96.1 (Feb 5, 1996)
# Associate images original text with physical files.
$key = q/{_inline}$beta_1${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$backslash${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$beta_3${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$(beta_1,beta_2,beta_3)${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$W=Zgamma${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{displaymath}y=left[arrayc1-132543-12arrayright]X_1=left[arrayc210-2-103-2-1arrayright]X_2=left[arrayc0001000-10arrayright]{displaymath}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$(X'X)(X'X)^-1=I${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$q_d${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$alpha'=(alpha_0,alpha_1,alpha_2)${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$veci'(y-Xhatbeta)${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$(2times2)${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$beta${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$epsilon_d${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$(50times50)${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$mboxttI:$backslash$Spring99$backslash$econ161$backslash$crossdat$backslash$fmt${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$Ktimes1${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$P_t=${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$Ntimes1${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$hatbeta_j${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$D_ik=0${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$(X'X)^+X'y${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$(50times1)${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$widehatbeta_1=X_1^primeY${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{displaymath}y=Xbeta+epsilon{displaymath}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$c=haty'hatyy'y${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$beta'=(beta_0,beta_1,beta_2)${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$beta=(beta_1,beta_2)${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{displaymath}logM_t=beta_0+beta_1logY_t+beta_2r_t+beta_3logP_t+epsilon_t,quadt=1,ldots,T.{displaymath}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$JtimesK${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{displaymath}q_d=beta_0+beta_1p+beta_2y+epsilon_d{displaymath}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}${D_1,ldots,D_K}${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$Z_1'(y-Xhatbeta)${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$epsilon${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$(hatbeta_1,ldots,hatbeta_K)${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$NtimesK${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$M_t=${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$gamma${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$beta_k${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$alpha${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$veci${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$Y_t=${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$X_1^primeX_1${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$Z_2${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$beta_2${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$y=Xbeta+epsilon${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$hatepsilon=y-haty${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{displaymath}y=Z_1beta_1+Z_2beta_2+epsilon{displaymath}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$(Ntimes1)${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{displaymath}y=beta_1D_1+cdotsbeta_KD_K+epsilon{displaymath}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$Py=X(X'X)^-1X'y${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$Py=haty${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$(X'X)^-1X'y${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$R=I-veci(veci'veci)^-1veci'${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$m_t=${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{displaymath}hatbeta_j=sum_i=1^Ny_iD_ijoversum_i=1^ND_ijquadj=1,ldots,K{displaymath}/;
$cached_env_img{$key} = ' 
';
$key = q/{displaymath}arraycccccccccccccy';SPMamp;=;SPMamp;(-10;SPMamp;-8;SPMamp;-6;SPMamp;-4;SPMamp;-2;SPMamp;0;SPMamp;2;SPMamp;4;SPMamp;6;SPMamp;8;SPMamp;10)X'_2;SPMamp;=;SPMamp;(1;SPMamp;2;SPMamp;3;SPMamp;4;SPMamp;5;SPMamp;6;SPMamp;7;SPMamp;8;SPMamp;9;SPMamp;10;SPMamp;11)X'_3;SPMamp;=;SPMamp;(1;SPMamp;3;SPMamp;5;SPMamp;7;SPMamp;9;SPMamp;11;SPMamp;13;SPMamp;15;SPMamp;17;SPMamp;19;SPMamp;21)array{displaymath}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$R^2${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$q_s${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$D_ij=1${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$knej${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$y_t=${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$hatepsilon=y-Xhatbeta${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$epsilon_s${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{displaymath}q_s=alpha_0+alpha_1p+alpha_2r+epsilon_s{displaymath}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$X_2^primeX_2${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$widehatbeta_2=X_2^primeY${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$rho(hate_t,hate_t-1)${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$alpha_k${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{displaymath}y_i=beta_1+beta_2X_2i+beta_3iX_3i+epsilon_i{displaymath}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$haty${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$hatepsilon${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$hatbeta${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$NtimesJ${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{displaymath}log(m_t)=beta_0+beta_1logy_t+beta_2r_t+epsilon_t,quadt=1,ldots,T{displaymath}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$r_t=${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$j^rmth${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$haty=Xhatbeta${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$veci'=(1,1,1)${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$A^+${_inline}/;
$cached_env_img{$key} = ' 
';
$key = q/{_inline}$Z_1${_inline}/;
$cached_env_img{$key} = ' 
';
1;