RDP 8703: Money Demand, Own Interest Rates and Deregulation
Equation (11a)
λ
3
+
λ
2
(
β
(
1
−
γ
−
α
ρ
σ
)
−
2
σ
ϕ
−
σ
ρ
(
1
−
α
)
σ
(
ϕ
+
ρ
)
)
+
λ
(
σ
ϕ
−
β
(
1
−
ψ
)
(
2
(
1
−
γ
)
−
α
ρ
σ
)
)
σ
(
ϕ
+
ρ
)
+
β
(
1
−
ψ
)
(
1
−
γ
)
σ
(
ϕ
+
ρ
)
=
0
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