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RDP 8611: The Effectiveness of Fiscal Policy in an Economy with Anticipatory Wage Contracts
Equation
m
˙
=
(
π
˜
+
n
)
(
1
+
m
˜
−
m
)
−
(
π
˜
+
n
)
=
(
π
˜
+
n
)
(
m
˜
−
m
)
for
m
ℓ
(
y
˜
)
<
m
<
m
u
(
y
˜
)
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