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110				
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100				/\ "/' \ \
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90	/\\-: ^,- w
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80	-	/1		\ ''/.' \ 
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70		/'\ . /-'			 
					
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50		| 1 i	i	1	1	i i i

1960/11 1962/11 1964/11 1966/II 1968/11 1969/IV

. 23.2.       SSP 500  
   1960 .    1969 .

: Kenneth E.  and Dwight M. Jaffee, The Supply of Money and Common Stock Prices
Journal of Finance, 26, no. 5 (December 1971), p. 1052.

23.3.7     

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