Research Discussion Paper – 1974 Equation (A.49)

W E • = a 1   X L t − 1 + a 2 β W A * + ( 1 − a 2 β ) ( P W • . E R ) e + ( a 4 − a 2 β ) Q e • + a 5 ( t P e • − t I e • ) − ( 1 + a 5 )   t Y e • MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGceaqabeaadaWfGa qaaiaadEfacaWGfbaaleqabaGaeyOiGClaaOGaeyypa0Jaamyyamaa BaaaleaacaaIXaaabeaakiaaykW7caWGybGaamitamaaBaaaleaaca WG0bGaeyOeI0IaaGymaaqabaGccqGHRaWkdaWcaaqaaiaadggadaWg aaWcbaGaaGOmaaqabaaakeaacqaHYoGyaaGaam4vaiaadgeacaGGQa Gaey4kaSYaaeWaaeaacaaIXaGaeyOeI0YaaSaaaeaacaWGHbWaaSba aSqaaiaaikdaaeqaaaGcbaGaeqOSdigaaaGaayjkaiaawMcaamaabm aabaWaaCbiaeaacaWGqbGaam4vaaWcbeqaaiabgkci3caakiaac6ca caWGfbGaamOuaaGaayjkaiaawMcaamaaCaaaleqabaGaamyzaaaaaO qaaiabgUcaRmaabmaabaGaamyyamaaBaaaleaacaaI0aaabeaakiab gkHiTmaalaaabaGaamyyamaaBaaaleaacaaIYaaabeaaaOqaaiabek 7aIbaaaiaawIcacaGLPaaadaWfGaqaaiaadgfadaahaaWcbeqaaiaa dwgaaaaabeqaaiabgkci3caakiabgUcaRiaadggadaWgaaWcbaGaaG ynaaqabaGcdaqadaqaamaaxacabaGaamiDaiaadcfadaahaaWcbeqa aiaadwgaaaaabeqaaiabgkci3caakiabgkHiTmaaxacabaGaamiDai aadMeadaahaaWcbeqaaiaadwgaaaaabeqaaiabgkci3caaaOGaayjk aiaawMcaaiabgkHiTmaabmaabaGaaGymaiabgUcaRiaadggadaWgaa WcbaGaaGynaaqabaaakiaawIcacaGLPaaacaaMc8+aaCbiaeaacaWG 0bGaamywamaaCaaaleqabaGaamyzaaaaaeqabaGaeyOiGClaaaaaaa@8074@