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RDP 2018-04: DSGE Reno: Adding a Housing Block to a Small Open Economy Model
Equation (19)
ln
[
G
t
M
t
]
=
(
1
−
ρ
g
)
ln
(
g
)
+
ρ
g
ln
[
G
t
−
1
M
t
−
1
]
+
ε
g
,
t
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=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@5D7C@