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Overnight loans rate Overnight loans rate MS MS MD1 MDO MDO MD1 O Real money (2007 dollars) Real money (2007 dollars) (a) (b) Overnight loans

Overnight loans rate Overnight loans rate MS MS MD1 MDO MDO MD1 O Real money (2007 dollars) Real money (2007 dollars) (a) (b) Overnight loans rate Overnight loans rate MSo MS, MS, MS MD MD 0 0 Real money (2007 dollars) Real money (2007 dollars) (c) (d) Figure 14.3.1

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