C     Invert g(.,.,.,.) to calculate z(t,.) 

C



      rhs =  alpha(1)*psi(t,1)  

      z(t,2) = rhs**(1/alpha(2))  



      xalp = z(t-1,1)**alpha(3)

      prod = theta(t,1) * xalp + alpha(5) * z(t-1,1)

      z(t,1) = prod - z(t,2)

      

      if ( z(t,1) .lt. 0 ) then

           write(7,*) 'consumption too large'

           stop

           endif

                            

      zlog(t,1) = log(z(t,1))

       

C     Calculate the phi to be predicted

C     i.e. the expression inside the conditional expectation that

C     we try to predict by psi

 

      if (t.lt.140) goto 10



      phi(t-1,1) = rhs*theta(t,1)*alpha(3)*(xalp/z(t-1,1))  

                              

  10  continue