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RDP 1977-07: Money and the Balance of Payments
Equation
D
1
=
μ
14
[
μ
15
(
(
1
−
θ
4
)
(
y
−
g
1
)
L
−
W
P
)
+
μ
16
(
θ
29
g
1
g
0
e
λ
1
t
)
+
λ
1
−
1
]
+
δ
2
(
log
m
^
−
log
M
P
)
+
μ
17
(
log
v
^
−
log
v
)
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