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RDP 8611: The Effectiveness of Fiscal Policy in an Economy with Anticipatory Wage Contracts
Equation (10)′
m
˙
=
(
π
^
+
n
)
(
1
+
m
^
−
m
)
+
α
e
−
m
^
(
ρ
e
b
^
−
t
)
y
+
α
e
b
^
−
m
^
(
ρ
−
θ
)
(
b
−
b
^
)
−
(
π
+
n
)
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