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RDP 8403: Modelling Recent Developments in Australian Asset Markets: Some Preliminary Results
Equation
D
log
(
P
d
d
)
=
α
1
log
(
P
d
^
/
P
d
d
)
+
β
1
log
(
P
m
^
/
M
)
d
^
=
d
0
y
d
e
β
2
[
(
r
a
/
4.0
)
−
D
log
P
]
y
d
=
y
−
T
1
/
P
+
c
P
d
=
P
d
0
[
EP
i
(
1
+
t
3
)
]
β
3
P
(
1.0
−
β
3
)
m
^
=
m
0
ye
β
4
r
m
+
β
5
r
b
+
β
6
r
b
1
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