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Conference-1989 Studies in Money and Credit
Equation
p
t
=
1
(
β
+
α
γ
+
α
β
γ
)
u
t
−
(
1
+
α
γ
)
(
β
+
α
β
γ
+
α
γ
)
v
t
−
(
λ
+
α
γ
+
α
γ
λ
)
(
1
−
α
γ
+
α
β
γ
)
y
t
−
1
+
p
t
−
1
y
t
=
β
(
β
+
α
γ
+
α
β
γ
)
u
t
+
α
γ
(
β
+
α
γ
+
α
β
γ
)
v
t
+
(
α
γ
λ
+
α
β
γ
)
(
β
+
α
γ
+
α
β
γ
)
y
t
−
1
.
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