RDP 8710: Transmission of External Shocks in the RBII Model
Equation
D
ℓ
=
α
11
(
ℓ
^
−
ℓ
)
ℓ
^
=
β
34
(
mp
ℓ
−
β
35
w
r
)
mp
ℓ
=
(
1.0
−
β
10
)
y
^
nf
/
L
w
r
=
W
(
1.0
+
t
4
)
/
P
bt
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