RDP 1978-02: Unemployment: An Econometric Dissection
Equation (6)
Dlog
W
1
=
α
21
(
log
MPL
1
−
log
W
1
(
1
+
t
1
)
P
(
1
+
t
3
)
)
+
β
11
log
L
1
/
θ
1
N
1
+
β
21
log
(
W
A
1
/
w
A
*
e
λ
2
t
)
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