ࡱ; ; '(  !"#$%&)+*-,./0123456879:<>[=?@ADBCEFGHIJKLMNOQPSRUTWVYX\Z^w]_`abcdefghijklmonqpvrstuxyz{|}~Root Entry FJCompObjbWordDocument7 vObjectPool^@^@ 4@   #%&'()*,13456789;@BCDEFGINPQRSTUVWY\_abcdefghijklnqtvwxyz{|}~ FMicrosoft Word 6.0 Document MSWordDocWord.Document.6; ࡱ; L#4d@ࡱ; #4NG  .1   &`  & MathTypePTimes New Roman -_916832945F^@^@Ole PIC LMETA ( 2 `Xy 2 `y 2 `9 x 2 `ik 2 `#N 2 `Btk 2 `jT Times New Roman- 2 it>> 2 it>> 2  it>> 2  it>>Symbol- 2 `:= 2 `+ 2 ` + 2 `= 2 `&= Symbol- 2 l-{Symbol- 2 `wg 2 `b 2 ` e Times New Roman - 2 1pTimes New Roman- 2 `1 2 `@1 2 `' 2 `w,` 2 `.` 2 `s.` 2 `.` 2 `o,` 2 `,` 2 `f.` 2 `.` 2 `V.` 2 `,`2 ` `````````` 2 `c ```` 2 `" ``` & "System-ࡱ FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; h=> & "System-ࡱ;  FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; ) WF&D(D x itࡱ; ObjInfo1 h0  1414&1 p  (24(24-Equation Native .<_916843033F^@^@Ole /PIC 1 h0  h46h460LMETA 2CompObj:ZObjInfo<LDࡱ; M  .1  &`E & MathType Times New Roman- 2 `EKPSymbol- 2 `Times New Romans - 2 `1 & "System-"D"D+-ࡱ;  FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; Y /H'oG8)oG K1 ࡱ; L4@Equation NativeSt 6886868 =<_916843079F^@^@Ole >PIC ?Lࡱ; 4>9  .1  & & MathTypePSymbolF- 2 `8e Times New Roman- 2 it>> & "System-``ࡱ; META 1 h0 t; ACompObjHZObjInfoJEquation Native K< FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; ) WF&D\(D e it?ࡱ; L4@ࡱ; 4F  ._916843111 1 h0 ."F^@^@Ole:?@:? 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F CompObj  ,ZObjInfo.VB T .1  &W & MathTypePSymbol- 2 a Times New Roman- 2 i> 2 B7i> 2 N PSymbol- 2 B={PSymbol- 2 9G 2 = Times New Roman- 2 B1pTimes New Roman- 2 0 & "System-ࡱ;  FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; )@WF\*D+D a ii=Equation Native 1414&1 p   (24(24/\_917255910tiveFCC.<Ole43033 F1PIC 2L1N  =0ࡱ; ࡱ; LW,Tࡱ; WN  .1   &"w & MathType`PSymbol- 2 `!a Times New Roman-METAbjNativeSt 6886868 4ObjInfo9F;Equation Native <<_917255974FCC?L 2 Wi>&,MathTypeUU  a iECTURE\A & "System-p0ࡱࡱ; Y 9  a i```ࡱ; LWTࡱ; OleObjNativeSt 6886868 =PICnfo9 F>LMETAon Native @ObjInfo2FIWK  .1   &  & MathType`PSymbol- 2 `!a 2 `jm Times New RomanX- 2 Wi>PSymbol- 2 `0+&,MathTypeUU  a i +m & "System-ࡱ; ࡱ; Y 9  a i +mࡱ; L "(Xࡱ;  "   .1  @&g &Equation Native J<_917099641FCCOleion Native KPIC92974 FLLMETAon Native FNCompObj5tiveF]ZObjInfo4F_Equation Native `| MathType-`c` Times New RomanD- 2 @Xy 2 @y 2 @T Times New Roman+- 2 i> 2 Mit>> 2 b/t> 2 T| Times New RomanD- 2 I.8Times New Roman+- 2 @Q/kSymbol- 2 @= 2 YI Symbol- 2 b={ Times New Roman+- 2 b1p & "System-Symbol-ࡱ;  FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; )`WF4+D,D 2y i. =y it /T t=1T ࡱ; L) "TXࡱ; ) "K  .1   & g & MathType-`c` _917099640'"FCDOleObj bPICocument !$cLMETAPool e@ Times New Roman- 2 @Xy 2 @y 2 @T Times New Roman- 2 i> 2 8it>> 2 bt> 2 uT| Times New Roman- 2 I.8Times New Roman- 2 @0/k Symbol- 2 -{ 2 -{ 2 b~={Symbol- 2 @= 2 Y4 Times New RomanSy- 2 1p 2 \1p 2 b1p & "System- EG8%ࡱ;  FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; CompObj31 h0  1414&1 p #%FuZObjInfoNative&wEquation Native Fx_917099639)FDD ()΀WF+D,D 2y i.-1 =y it-1 /T t=1T  ࡱ; ࡱ; L2 "Xࡱ; 2 "I  .1  @ & g &Oleion Native 1 h0  F{PIC19404?@:? (+F|LMETA ~CompObj*,Z MathType-`c` Times New Roman- 2 @Xy 2 @y 2 @T Times New RomanD- 2 i> 2 Wit>> 2 b+t> 2 T| Times New Roman- 2 I.8Times New RomanD- 2 @[/k Symbol- 2 -{ 2 b={ 2 -{Symbol- 2 @= 2 YS Times New Roman- 2 1p 2 b 0p 2 ?1p & "System-ࡱ;  FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ObjInfo8 1 h0 t;-FEquation Native _917099637J 0FDDILOlefoNative ࡱ; )΀WFX+D/D 2y i.-1 =y it /T t=0T-1  g & MathTyࡱ; ࡱ; L"HXࡱ; "f5  .PICObj /2LMETAfo HCompObjNative13ZObjInfo44F1  @ & g & MathType-`c` Times New Roman- 2 @Xy 2 @y 2 @ T Times New RomanD- 2 i> 2 Iit>> 2 bt> 2 T| Times New Roman- 2 I.8Times New RomanD- 2 @A/k 2 @ ( 2 @v ) Symbol- 2 -{ 2 -{ 2 b~={Symbol- 2 @= 2 @ - 2 YE Times New RomanSy- 2 1p 2 m1p 2 b2pTimes New RomanD- 2 @ 1 & "System-ࡱ;  FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; )΀WF|+D+D 2y i.-1 =y it-1 /(T-1) t=2T ࡱ; ࡱ; Equation Native F_917099636tive7FDD<Ole26744 FPIC 69LL"Xࡱ; "FG  .1   &g & MathType-`L` Times New Roman- 2 @4u 2 @ou 2 @T Times New Roman- 2 i> 2 it>METAfo5 FCompObjNative8:ZObjInfo4;FEquation Native |> 2 bt> 2 rT| Times New Roman- 2 1.8Times New Roman- 2 @!/kSymbol- 2 @= 2 Y1 Symbol- 2 b{={ Times New RomanSy- 2 b1p & "System-manSy- 2 ࡱ;  FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; )`WF+D ,D 2u i. =u it /T t=1T ࡱ; L4@_917099635C5>FDDOle PIC =@LMETA ࡱ; 4K  .1  & & MathTypeP-rTimes New Roman- 2 `4( 2 `) Times New Roman- 2 .8Times New Roman- 2 `y 2 `y Times New Roman- 2 it>> 2 _i> Symbol- 2 &-{ 2 -{Symbol- 2 `x- Times New Roman- 2 1p 2 h1p & "System-ࡱ; CompObj?AZObjInfoBEquation Native |_917099634EFDD FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; )`WF+Dh,D (y it-1 -2y i.-1 )ࡱ; L34@ࡱ; Oleion Native 1 h0  FPIC19404?@:? DGFLMETA CompObjFHZ34% O .1  &` & MathTypeP-XTimes New Roman+- 2 `4( 2 `) Times New Roman%- 2 .8Times New Roman+- 2 `u 2 `u Times New Roman%- 2 uit>> 2 :i>Symbol- 2 `n- & "System-ࡱ;  FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; h@2h.7//7/ (u it -2uObjInfoNativeSt 6886868IEquation Native F\_917099633tiveX<LFDD<Ole22532 F i. )ࡱ; ࡱ; L4@ࡱ; 4f5  .1  & & MathTypePTimes New RomanX- 2 `4u Times New RomanPICnfo8 1 h0 t; KNFLMETAon Native CompObj7MOFZObjInfoNativeP- 2 it>> & "System-PTiࡱ;  FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; ) WF+DD,D u itdࡱ; Equation NativeSt 6886868 <_917099632tiveSFDD<Ole55826tive FPIC22532 RUFL   "$%&'()*+-2456789:;=@CEFGHIJKLNQTVWXYZ[\^cefghijklmnopqrstuvwxz}~L4@ࡱ; 46K  .1  & & MathTypePTimes New Roman- 2 `Xy Times New Romanh- 2 it>> Symbol- 2 -{ Times META6918 1 h0 t; F(CompObjTV ZObjInfoW Equation Native \New Romanh- 2 1p & "System-ࡱ FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; )@WF/D1D y it-1 - 2 ࡱ;      #/ !"$&%'-()*+,.40G12356798:;<A=>?@BCDFEHIbJKLMNOPRQSTUXVWY\Z[]^_a`cd~egfhijlkmnopqtrsuvwyxz|{}_917099631 1 h0 t;_QZFD?E(OleObj PICnfo Y\LMETAon Native ࡱ; L4@ࡱ; 46K  .1  &` & MathTypeP-L Times New Roman- 2 `4u Times New Roman- 2 i> Times New Roman- 2 1.8 & "System-2 d  ࡱ;  FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; ) WF/DD1D 2u i.CompObjNativeSt 6886868[]ZObjInfoNative^FEquation Native F<_917099630aF?E?EOlenfoNative 1 h0  F PICion Native `cF!LMETA6868 F#CompObjbd,Zࡱ; L4@ࡱ; 4J  .1  &` & MathTypeP-L Times New Roman- 2 `4u Times New Roman- 2 i> Times New Roman- 2 1.8 & "System-ࡱ;  FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; ) WFT,D0D 2u i.ObjInfoNativeeF.Equation Native F/<_917099629.hF?E?E:Ole 0ࡱ; L4@ࡱ; 4.   .1  &` & MathTypePTimes New Roman- 2 `4u Times New Roman- 2 it>> SymbolPICnfoNativeSt 6886868 gj1LMETAon Native F3(CompObj3tiveikF<ZObjInfo2lF>- 2 -{ Times New Roman- 2 1p & "System- 2 1p & ࡱ FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; )@WF0,D,D u it-11Equation Native F?\_917099627tiveoF?E?E<Ole26744 FAPIC nqBLp & ࡱ; ࡱ; L4@ࡱ; 46K  .1  & & MathTypePTimes New Roman- 2 `Xy Times New RomanhMETAfoNative FD(CompObjNativeprFMZObjInfo9sFOEquation Native P\- 2 it>> Symbol- 2 -{ Times New Romanh- 2 1p & "System-ࡱ FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; )@WF/Dt1D y it-1.1ࡱ; ࡱ; L{,hࡱ; {FK  .1  @& & MathTypePSymbolF- 2 1_917099626tive{mvF?E?ED(OleObjNative FRPICnfo9 uxFSLMETAon Native Ua Times New Romanx- 2 1i> Symbol- 2 1*p & "System-ࡱ;  FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; CompObjNativewyF]ZObjInfo5tivezF_Equation Native F`<_917099625}F?E?E;L) WF/D,1D a i*ࡱ; L{@ hࡱ; {K  .1  @& & MathTypeP-}'MT Extra- 2 pOlenfoNativeSt 6886868 aPICion Native |FbLMETA9633tive Fd(CompObj2~FyZs$Times New Roman0- 2 ,` 2 X,` 2 .` 2 ,.` 2 .` 2 ,` Times New Roman- 2 c.8 2 .8Symbol- 2 1a 2 .g Times New Roman0- 2 1i> 2 i> 2 mi>Times New Roman- 2 ry 2 y 2  ik 2 N Symbol- 2 1*p 2 -{Symbol- 2 = 2 - 2  = Times New Roman- 2 v1pTimes New Roman0- 2  12   `````` & "System-ࡱ FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; )ΠWF,D0D "a  i* =2y i. -g2y i.-1 ,      i=1,...,N8% EGࡱ; ObjInfoNativeF{Equation Native F|_917099624tF?E?E:Ole PIC99635 FLMETA  CompObjZObjInfoL<ࡱ; VK  .1   `&  & MathTypeP-b ba bb     7   MT ExtraI- 2 `$Times New Roman- 2 B( 2 B )( 2 B,) 2 t( 2 .) 2 d Z( 2 d ) 2 d ( 2 d I) 2 d !/k 2 ( 2 ]) 2 /k Times New Roman- 2  .8 2 .8 2  .8 2 .8 2 .8 2  .8Symbol- 2 ?g 2  g 2 d= 2 [ 2 Bg- 2 B- 2 [ 2 + 2  - 2 6 2  d= 2  + 2 }  2 d - 2 }  2 d - 2 Z 2 - 2 e  Symbol- 2 d={ 2 d -{ 2 +-{ 2 d#={ 2 n={ 2 f -{ 2 --{ 2 ={ 2 T={ 2 L -{ 2 -{ 2 f={ 2 ={ 2  -{ 2  \-{ 2 ={ Times New Roman- 2 di> 2 N 2 git>> 2 N i> 2  it>> 2 i> 2 dt> 2 T| 2 i> 2 \eN 2  it>> 2  i> 2 t> 2 \wT| 2 i> 2 %KN 2 it>> 2 i> 2 t> 2 %]T| 2 it>> 2 i> 2 @i> 2 ~ N 2  it>> 2  i> 2 K t> 2 ~ T|Times New Roman- 2 By 2 B y 2 B y 2 By 2 " y 2  y 2 d  y 2 d y 2 d (u 2 d u 2 d NT 2 Q y 2 ,y 2 NT Times New Roman- 2 d1p 2  1p 2 1p 2 d1p 2 1p 2  1p 2 1p 2 2p 2 1p 2 1p 2 1p 2 1p 2 1p 2 1p 2   1p 2  1p 2  2p 2 2 1p & "System-ࡱ;  FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; )ΠWF0D1D "g = i=1N  (y it -2y i. )(y it-1 -2y i.-1 ) t=1T   i=1N  Equation Native 1 h0 t; F_917099623F?E?EHOleObj PICfoNative L(y it-1 -2y i.-1 ) 2t=1T  =g+ i=1N  (y it-1 -2y i.-1 ) t=1T  (u it -2u i. )/NT i=1N  (y it-1 -2y i.-1 ) 2 /NT t=1T ࡱ; L ࡱ;  B  .1  ` & & MathType-*ex x8xxo5     9 9 9 19 ^Times New Roman- 2 XMETAfoNative F CompObjNativeFZObjInfo9FEquation Native <@plimkk+2 `@ ````` 2 `plimkk+2 @ ````` Times New RomanI- 2 xN 2 zi> 2 N 2 J it>> 2 %i> 2 zt> 2 T| 2 vit>> 2 Ei> 2  N 2  i> 2  i> 2 g i> 2 ! N 2 up 2 T|Times New Roman- 2 }bNT 2 X y 2 X y 2 Xu 2 Xu 2 N 2 ` y 2 ` u 2 T 2 T 2 T Symbol- 2 6 2 ' 2 z={ 2  -{ 2 -{ 2 z={ 2  2  2  -{ 2  ={Symbol- 2 q 2 X> - 2 q 2 Xv- 2 `= 2 `- 2 y  2 = 2 - 2  - 2 - 2 + 2 h -Times New RomanI- 2 g1 2 o1 2  1 2 | 1 Times New RomanSy- 2 zw1p 2 n 1p 2 .1p 2 z1p 2  1p 2 G 1p 2 2p 2  2p 2  2pTimes New RomanI- 2 X( 2 X) 2 X>( 2 X) 2 .` 2 E( 2 ) 2 ( 2 _ ) Times New RomanSy- 2 t.8 2 .8 2  .8Symbol- 2 s 2 g 2 g 2 g & "System-ࡱ;  FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; ) WFH0D1D 'plim N 1NT i=1N  (y it-1 -2y i.-1 ) t=1T  (u it -2u i. )     =-'plim N 1N2y i.-1 2u ii=1N       =-s u2 T 2 .(T-1)-Tg+g T (1-g) 2ࡱ; L x_917099622tiveFl'Gl'G:<Ole21093tive FPIC26744 FLMETA ࡱ;  J K .1  &i & MathType-*e 8a*aa a aP aaaTimes New Roman- 2 h@plimkk+2 @ `````` Times New Roman-     !"#$%&'*,-./0123457:=?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abdghijknpqrstuw|~ 2 xN 2 i> 2 )N 2 J it>> 2 %i> 2 t> 2 )T| 2 3$up 2 'T|Times New Roman- 2 bNT 2 h y 2 h y 2  T 2 5T 2 T 2 T Symbol- 2 6 2 ' 2 ={ 2  -{ 2 -{ 2 ={Symbol- 2  2 h> - 2  2 = 2 - 2  - 2 # - 2 - 2 u- 2 - 2 + 2  2  2 I 2  2  2 ITimes New Roman- 2 w1 2 &1 2 1 2  1 2 2 2  1 2 ~1 Times New Roman- 2 w1p 2 n 1p 2 .1p 2 E2p 2 1p 2 '$2p 2 =2p 2 =J2p 2 =2pTimes New Roman- 2 h( 2 h) 2 d ( 2 ) 2 .` 2 ( 2  ) Times New Roman- 2 t.8Symbol- 2 *s 2 >g 2 g 2 g 2 g 2 -g & "System-T Symbol-ࡱ;  FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; CompObj6tiveFZObjInfoNativeFEquation Native F _917099621tiveFl'Gl'GU)WF`0D1D 'plim N 1NT i=1N  (y it-1 -2y i.-1 ) 2t=1T        =s u2 1-g 2 1-1T-2g(1-g) 2 .(T-1)-Tg+g T T 2 {}Symbol-ࡱ; Oleion Native F(PIC21093tive F)LMETA6744 F+CompObj6Zࡱ; Lࡱ; K @ .1  ` & & MathType-=@=Symbol- 2 @s 2 Tg Times New Roman- 2 :up Times New Roman+- 2 :2p 2 &2pTimes New Roman- 2 <1Symbol- 2 (- & "System- 2 (- & ࡱ FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ObjInfo8 1 h0 t;F8Equation Native 9\_917099620Fl'Gl'GILOlefoNative ;ࡱ; )@WF0D2D s u2 1-g 2ࡱ; ࡱ; L.4ࡱ; .B m .1   *&`* &PICnfoNative F<LMETAon Native F> CompObj4FcZObjInfoe MathType-  MC #(Times New RomanX- 2 @plimkk+ Times New Roman- 2 TxN 2 T| 2 &T|Times New RomanX- 2 E T 2 ET 2 ET 2 E,#T Symbol- 2 T6 2 T' 2 )-{Symbol- 2 - 2 = 2 - 2 / + 2 E - 2 - 2 /- 2 E_- 2   2 O  2 I  2  2 O 2 I 2  - 2 E- 2 E- 2 !- 2 /$- 2 E%- 2   2   2   2 &( 2 &( 2 &( 2  2 a 2  2 ( 2 a( 2 (Times New Roman- 2 (MT Extra- 2 $Times New Roman- 2 ) 2 Ea( 2 E)( 2 E) 2 E"$( 2 Ew')Symbol- 2 g 2 g 2 / g 2 /,g 2 Eg 2 /Ng 2 Eg 2 /%g 2 E&gTimes New Roman- 2 / 1 2 E% 1 2  1 2 /1 2 /1 2 Es1 2 41 2 /}2 2 E1 2 E 1 2  1 2 /#1 2 E$1 Times New RomanX- 2 *1p & "System-ࡱ; 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) WF 1D2D ࡱ; L; 4<@ࡱ; ; 4&=  .1  `&  & MathTypeP-gPIC99626tive FLMETAbjNative FCompObj9FZObjInfoNativeTimes New Roman- 2 `4( 2 `) Times New Roman+- 2 M.8Times New Roman- 2 `y 2 `\y Times New Roman+- 2 it>> 2 i> Symbol- 2 &-{ 2 -{Symbol- 2 `x- Times New Roman- 2 1p 2 1pSymbol- 2 `q & "System- XXBd+fࡱ;  FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; Equation Native F|_917099614tiveFXHXH<Ole26744 FPIC L)`WF<1D2D (y it-1 -q2y i.-1 )ࡱ; L!4@ࡱ; !4B  .1  `&  & MathTypeP-h(META6918 1 h0 t; FCompObjZObjInfoEquation Native |Times New RomanX- 2 `4( 2 `) Times New Roman- 2 M.8Times New RomanX- 2 `u 2 `Pu Times New Roman- 2 lit>> 2 i>Symbol- 2 `l- Symbol- 2 -{Symbol- 2 `q Times New Roman- 2 1p & "System-ࡱ;  FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; )`WFd1D2D (u it -q2u i.-1 ) 2 `4( 2 `ࡱ; Lࡱ; f<  .1  &4 & MathType-=4= = =L==Times _917099613tiveFXHXH:<Ole21093tive FPIC26744 FLMETA hNew RomanX- 2 LE 2 A 2 B 2 `E 2 ( A 2 fE 2  B 2 -AB 2  E 2 A 2 E 2 B 2 mB 2 E 2 XBTimes New Roman- 2 Z( 2 A/k 2 ) 2 n( 2  ) 2 t( 2  ) 2 Icov( 2  ) 2 ( 2 l) 2 ( 2 ) 2 var( 2 c) 2 ( 2 N)Symbol- 2 = 2 l - 2 + 2   2   2   2  2  2 Times New Roman- 2  1 Times New RomanX- 2 2p & "System-r(B)Eࡱ FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; 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ࡱ; Equation Native F_917099610tiveFXHXH<Ole26744 FPIC L)΀WF1D\3D B=(y it-1 -2y i.-1 ) 2t ࡱ; ࡱ; L 4@ࡱ;  4K C .1   &  &METAfoNative FCompObjNativeF)ZObjInfo5F+Equation Native ,\ MathTypePSymbolF- 2 `<- 2 `z+ 2 `-Times New Roman- 2 `( 2 ` ) 2 `/k 2 `( 2 `- ) 2 `1 2 `3 2 ` 1Symbol- 2 `UgTimes New Roman- 2 `BT & "System- 2 `BT ࡱ FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; )@WF1D3D -(1+3g)/(T-1)ࡱ; ࡱ; L_917099608tiveFXHXH:<Ole21093tive F.PIC26744 F/LMETA 1Hࡱ; K  .1  `&  & MathType0SymbolF- 2 .z 2  & "System-ࡱ;  FMicrosoft Equation 2.0 DS EqCompObj8 1 h0 t;F7ZObjInfoNative9Equation Native F:<_917099607tiveFXHƉIuation Equation.2ࡱ; ࡱ; ) WF2D3D ࡱ; LX%4,@ࡱ; X%4v:  .1  !&! &OlenfoNative F;PICion Native F<LMETA9615 F>hCompObjTZ MathTypePTimes New RomanX- 2 `4G 2 `fP 2 `8 N 2 `N 2 `I 2 `I 2 `FG Times New Roman- 2 =t> 2 t> 2 M t> 2 t> 2 [t> 2 $t> 2 O t>Symbol- 2 `= 2 `+ 2 `+ 2 `+ 2 `d+ 2 `+ 2 `+ Symbol- 2 -{ 2 -{ 2  -{Symbol- 2 `6b 2 ` b 2 ` b 2 `'b 2 `{b 2 `5b 2 `b Times New Roman- 2 0p 2 1p 2  2p 2 3p 2 1p 2 Y4p 2  5p 2  1p 2 6p 2 5!1pSymbol- 2 `N D 2 `D & "System-ࡱ FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; ) WF42D3D G t =b ObjInfoNativeFVEquation Native FW<_917099606 FƉIƉI:Ole \0 +b 1 P t +b 2 DN t +b 3 N t-1 +b 4 DI t +b 5 I t-1 +b 6 G t-1ࡱ; L4,@ࡱ; 4F4  .PIC99617 1 h0 t; F]LMETAbjNative _ObjInfo0FgEquation Native h<1  &  & MathTypePTimes New Roman- 2 `4G Times New Roman- 2 Ht>&,MathTypeUU  G t & "System-crsoft o@Ht\JENECTU\Aࡱ; ࡱ; h 2  G t ࡱ; L {hࡱ;  {~A  .1  @ &`  & MathTypePTimes New RomanX- 2 4G 2 wG 2 r 2  _917099605tiveFƉIƉI.Oleion Native FiPIC99629 FjLMETA lhG Times New Roman- 2 =t> 2 t> 2 # t> Symbol- 2 Z*p 2  -{Symbol- 2 E= 2 B- 2 -Times New RomanX- 2 c( 2  ) 2 1 Times New Roman- 2  1p & "System-ࡱ FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; ࡱ; )`WFX2D3D G t* =G t -(1-r)G t-1Symbࡱ; CompObj8 1 h0 t;FzZObjInfo|Equation Native }|_917099604tiveFƉIƉIKOlenfoNative FPICion Native FLMETA9615 FhCompObjZL4@ࡱ; 4~A ! .1  & & MathTypePSymbolF- 2 `)b Times New Roman+- 2 6pTimes New RomanX- 2 `1Symbol- 2 `= 2 `-Times New RomanX- 2 `r & "System-ࡱ FMicrosoft Equation 2.0 DS Equation Equation.2ࡱ; 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