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Discussion of the Equations
Solution of the Nonlinear System
3 other sections not shown
1964.4 Actuals Predicted Actuals Predicted Residuals adjustment aggregate demand average Bi00ions billions of 1958 billions of current capacity utilization capital stock CD CD changes CM CM CM CM OJ coefficients components computed consumer durables corporate current dollars cyclical decrease determined distributed lag dummy variable Econometric Model economic effect EFU model endogenous equation error estimated Evans model ex ante forecasts excise tax exogenous variables expenditures exports fixed business investment free reserves implicit deflator imports increase interest rate inventory investment labor force linear long-run manufacturing sector monetary policy monetary sector multipliers non-farm non-manufacturing nondurables and services nonlinear O O O oO.O oO.O oooo oooo oooo open market operations parameters price equations price level quarterly quarters ahead recursive block required reserves reserve ratio residential construction short-run simulation solution stock-adjustment tax cut tens of billions tion values wage rate Wharton model Wharton-EFU model