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NK Model You do not need to hand in this problem; it is nevertheless required material for the course. Consider a NK model with no

NK Model You do not need to hand in this problem; it is nevertheless required material for the course. Consider a NK model with no capital, like the model discussed in Lectures 17 and 18. In this model, households choose their money balances Mt , labor supply Nt , and savings Bt+1 in a nominal bond to solve

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