RDP 8710: Transmission of External Shocks in the RBII Model
Equation
Dlog
(
d
)
=
α
1
log
(
d
^
/
d
)
−
β
1
log
(
P
m
^
/
M
)
d
^
=
d
0
y
d
e
−
β
2
[
(
r
ℓ
/
4.0
)
−
DlogP
]
y
d
=
y
T
−
T
1
/
P
+
c
y
T
=
y
+
x
(
P
x
EP
i
)
−
x
P
d
=
P
d
0
[
EP
i
(
1
+
t
3
)
]
β
3
P
(
1.0
−
β
3
)
m
^
=
m
0
ye
−
β
6
r
s
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