RDP 8611: The Effectiveness of Fiscal Policy in an Economy with Anticipatory Wage Contracts
Equation (32)
ν
1
u
=
1
ℓ
i
(
S
+
+
ϕ
)
[
ℓ
y
(
ϕ
−
(
π
^
+
n
)
)
+
(
ρ
e
b
^
−
t
)
D
^
(
α
n
(
ρ
−
θ
)
e
b
^
−
m
^
S
+
+
n
−
1
)
]
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