Calculate the long-run static equilibrium solution to the following dynamic econometric model yt = 1 + 2x2t
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Calculate the long-run static equilibrium solution to the following dynamic econometric model
yt = β1 + β2x2t + β3x3t + β4 yt−1 + β5x2t−1
+β6x3t−1 + β7x3t−4 + ut AppendixLO1
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