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wrote his paper.
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So what is it that he said?
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All his lessons are going to hold true.
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The first thing he said is that look, in every period there are
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qs on every side of things.
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So if you just double--there's no loss in generality by taking
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all the q_ts to be 1.
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We have no theory of inflation yet, because there's no money or
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anything.
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So you might as well assume we're measuring everything in
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terms of apples and take q_t to be 1.
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So without loss of generality, as they say,