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RDP 1977-05: Modelling Monetary Disequilibrium
Equation
Dlog
x
=
α
13
(
log
x
^
d
−
log
x
)
+
α
14
(
log
x
^
s
−
log
x
)
+
β
25
QE
+
β
26
QDS
log
x
^
d
=
x
0
+
λ
4
t
+
β
27
log
(
P
x
EP
w
)
log
x
^
s
=
x
′
0
+
β
1
log
y
+
β
28
log
(
P
x
P
)
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