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RDP 8710: Transmission of External Shocks in the RBII Model
Equation
P
=
[
(
1.0
+
t
6
)
P
bt
]
β
21
[
P
x
]
(
1
−
β
21
)
DlogP
bt
=
α
7
log
(
P
^
b
t
/
P
bt
)
−
β
22
log
(
P
m
^
/
M
)
+
β
23
log
(
v
^
/
v
)
P
^
bt
=
P
bt
0
[
1.0
/
(
1.0
−
β
10
)
]
WL
(
1.0
+
t
4
)
/
y
¯
y
¯
=
y
0
e
λ
3
t
L
(
1.0
−
β
10
)
K
β
10
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