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RDP 1977-05: Modelling Monetary Disequilibrium
Equation
Dlog
B
=
α
18
(
log
b
^
−
log
B
P
)
log
b
^
=
b
0
+
β
1
log
y
+
β
34
r
−
β
34
r
w
+
β
35
QE
+
β
36
log
EP
w
P
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