RDP 9702: The Lags of Monetary Policy Equation (B3a)

\begin{array}{l} p \lim \frac{X^{'} M_{W} ε}{T} = p \lim \frac{X^{'} ε}{T} - p \lim X^{'} W {(W^{'} W)}^{- 1} \frac{W^{'} ε}{T} \\ = p \lim \frac{X^{'} ε}{T} - p \lim X^{'} W {(W^{'} W)}^{- 1} . p \lim \frac{W^{'} ε}{T} \\ = p \lim \frac{X^{'} ε}{T} \end{array}