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RDP 1977-07: Money and the Balance of Payments
Equation
Dlog
E
=
μ
13
(
log
P
P
w
−
log
E
)
+
θ
24
log
L
ϕ
0
N
+
θ
25
log
R
θ
0
M
+
θ
26
Dlog
R
+
θ
27
QUS
+
θ
28
QER
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