7.4. Consider the Taylor model with the money stock white noise rather than a random walk; that...
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7.4. Consider the Taylor model with the money stock white noise rather than a random walk; that is, mt = εt, where εt is serially uncorrelated. Solve the model using the method of undetermined coefficients. (Hint: In the equation analogous to (7.33), is it still reasonable to impose λ + ν = 1?)
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