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RDP 2003-03: Australia's Medium-Run Exchange Rate: A Macroeconomic Balance Approach
Equation (5)
x
m
a
n
s
=
β
1
p
x
−
β
1
(
p
+
e
t
w
i
)
+
β
2
t
1986
x
m
a
n
d
=
−
β
3
p
x
+
β
3
p
w
+
β
4
t
1986
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