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RDP 1977-07: Money and the Balance of Payments
Equation
Dlog
i
=
α
3
(
log
i
^
−
log
i
)
+
μ
4
(
log
v
^
−
log
v
0
e
λ
1
t
)
i
^
=
[
i
0
(
EP
i
(
1
+
t
3
)
P
)
β
5
e
θ
9
QE
]
S
v
^
=
v
0
S
S
=
d
+
DK
+
x
+
g
1
+
g
2
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