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RDP 1977-07: Money and the Balance of Payments
Equation
DF
=
α
10
F
(
log
f
^
−
log
F
EP
w
)
+
γ
4
(
M
d
−
DC
)
M
d
=
α
12
M
(
log
m
^
−
log
M
P
)
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