,,insteadofsubstitutingtheconsumptionEulerequationfortherisk-freerateintotheusualoptimalityconditionforportfoliochoice,wesubstitutetheconsumptionEulerequationfortheexcessreturn,givingtheconditiont 1 S gSCt 1 SeERp0. i,t()[]Ctpt 1tExante,weexpectthismodeltoperformworse,sincetotheextentthatconsumptionresponds...
The studied input variables of the model were the industry growth rate, inflation rate, effect of technology, and emission factors. The output variables were industrial productivity, energy consumption, and gross domestic product. They expose the interrelationship between the three kinds of ...