RDP 8703: Money Demand, Own Interest Rates and Deregulation
Equation (10)
[
R
t
π
t
]
[
σ
(
ϕ
−
α
ρ
)
+
β
(
1
−
ψ
)
(
α
ρ
σ
+
1
−
γ
)
Λ
1
−
γ
Λ
−
α
ρ
σ
1
−
γ
1
]
[
R
t
−
1
π
t
−
1
]
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