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RDP 1978-02: Unemployment: An Econometric Dissection
Equation (5)
Dlog
L
i
=
λ
L
i
+
α
1
i
(
log
MPL
i
−
log
W
i
(
1
+
t
1
)
P
/
(
1
+
t
3
)
)
+
δ
1
i
(
log
y
−
log
y
¯
)
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