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Bulletin – June 2013
Equation (2)
M
j
t
=
c
+
(
α
1
+
α
2
*
D
P
o
s
t
2005
,
t
)
X
j
t
+
(
β
1
+
β
2
*
D
P
o
s
t
2005
,
t
)
D
D
j
t
+
δ
X
R
j
t
+
(
η
j
+
T
t
+
ε
j
t
)
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