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RDP 2011-04: Assessing Some Models of the Impact of Financial Stress Upon Business Cycles
Equation
Δ
ln
D
t
=
Δ
ln
(
Q
t
K
t
)
+
Δ
ln
(
1
−
l
t
−
1
)
=
Δ
q
˜
t
+
Δ
k
˜
t
+
γ
+
Δ
ln
(
1
−
l
t
−
1
)
,
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