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RDP 1977-07: Money and the Balance of Payments
Equation
Dlog
P
x
=
α
6
(
log
P
^
x
−
log
P
x
)
P
^
x
=
P
x
0
(
EP
w
1
)
θ
12
(
EP
i
)
(
1
−
θ
12
)
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