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RDP 1977-05: Modelling Monetary Disequilibrium
Equation
Dlog
d
=
α
1
(
log
d
^
−
log
d
)
+
γ
1
(
log
m
^
−
log
M
P
)
log
d
^
=
d
0
+
β
1
log
[
y
−
T
1
P
+
c
]
+
β
2
log
m
^
=
m
0
+
E
1
log
y
+
β
3
r
+
β
4
r
w
+
β
5
QE
+
β
6
log
EW
w
P
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