Research Discussion Paper – 1974
Equation (A.50)
W
E
•
=
a
1
X
L
t
−
1
+
a
2
β
P
e
•
+
(
a
3
−
a
2
(
1
−
β
)
β
)
(
P
W
•
.
E
R
)
e
+
a
4
Q
e
•
+
a
5
t
P
e
•
+
a
6
t
Y
e
•
+
a
7
t
I
e
•
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