RDP 9214: The Cash Market in Australia
Equation (3)
G
t-1
+M
n
t-1
+
(
M
b
t
+M
d
t
)
+U
d
t
+Z
t-2
+N
t
+O
t
+R
t
-
(
T
b
t
+T
d
t
)
+
(
L
n
t
+B
n
t
)
-
(
L
n
t-1
+B
n
t-1
)
=0
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