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RDP 8703: Money Demand, Own Interest Rates and Deregulation
Equation (13)
R
=
1
−
γ
σ
ρ
(
1
−
β
(
1
−
ψ
)
α
)
(
π
t
−
Δ
m
¯
t
)
−
1
−
γ
σ
y
¯
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