RDP 9506: The Liberalisation and Integration of Domestic Financial Markets in Western Pacific Economies
Equation (12)
l
n
,
t
=
1
p
[
q
+
c
+
α
1
e
n
,
t
−
α
2
+
(
α
2
+
(
1
−
r
)
α
3
)
(
Π
i
=
0
n
−
1
(
1
+
m
1
,
t
+
1
)
)
1
n
−
α
3
(
1
−
r
)
−
p
l
′
(
L
t
)
]
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