RDP 7703: Price and Quantity Responses to Monetary Impulses in a Model of a Small Open Economy
Equation
Dlog
A
=
.26
(
log
A
^
−
log
A
)
+
.15
log
[
Py
(
Py
)
o
e
λ
2
t
]
log
A
^
=
A
0
+
log
(
1
−
z
)
M
−
.22
log
r
+
.17
log
r
w
−
.009
QA
+
.02
QF
λ
2
=
.015
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