Research Discussion Paper – 1974 Equation (29)

P • = β b 1 X N t − 1 + β b 2 W E e • + ( 1 − β b 2 ) ( P W : E R ) e + β b 4 Q e • + β b 5 ( t P e • − t I e • ) + ( β b 2 − β b 5 ) t Y e • MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGceaqabeaadaWfGa qaaiaadcfaaSqabeaacqGHIaYTaaGccqGH9aqpcqaHYoGycaWGIbWa aSbaaSqaaiaaigdaaeqaaOGaamiwaiaad6eadaWgaaWcbaGaamiDai abgkHiTiaaigdaaeqaaOGaey4kaSIaeqOSdiMaamOyamaaBaaaleaa caaIYaaabeaakmaaxacabaGaam4vaiaadweadaahaaWcbeqaaiaadw gaaaaabeqaaiabgkci3caakiabgUcaRmaabmaabaGaaGymaiabgkHi Tiabek7aIjaadkgadaWgaaWcbaGaaGOmaaqabaaakiaawIcacaGLPa aadaqadaqaaiaadcfacaWGxbGaaiOoaiaadweacaWGsbaacaGLOaGa ayzkaaWaaWbaaSqabeaacaWGLbaaaOGaey4kaSIaeqOSdiMaamOyam aaBaaaleaacaaI0aaabeaakmaaxacabaGaamyuamaaCaaaleqabaGa amyzaaaaaeqabaGaeyOiGClaaaGcbaGaey4kaSIaeqOSdiMaamOyam aaBaaaleaacaaI1aaabeaakmaabmaabaWaaCbiaeaacaWG0bGaamiu amaaCaaaleqabaGaamyzaaaaaeqabaGaeyOiGClaaOGaeyOeI0YaaC biaeaacaWG0bGaamysamaaCaaaleqabaGaamyzaaaaaeqabaGaeyOi GClaaaGccaGLOaGaayzkaaGaey4kaSYaaeWaaeaacqaHYoGycaWGIb WaaSbaaSqaaiaaikdaaeqaaOGaeyOeI0IaeqOSdiMaamOyamaaBaaa leaacaaI1aaabeaaaOGaayjkaiaawMcaamaaxacabaGaamiDaiaadM fadaahaaWcbeqaaiaadwgaaaaabeqaaiabgkci3caaaaaa@8027@