RDP 8806: Employment, Output and Real Wages
Equation (2′′)
Δ
1
nE
t
=
c
o
+
c
1
Δ
1
nY
t
+
c
2
Δ
1
nW
t
+
c
3
1
nE
t
−
1
+
c
4
1
nY
t
−
1
+
c
5
1
nW
t
−
1
+
c
6
T
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