VALIDATION GATE: pure-dividend long-run price impulse = 3.33%
  quantity-theoretic benchmark = S/MT_SHARE = 3.33%  -> match: True
  cross-check: credit_displacement found large positive (not neutral) for a
  big dividend; this confirms the same direction structurally. Gate: PASS

==========================================================================
C2 -- LONG-RUN PRICE IMPULSE of a 1pp-of-M2 issuance shock (validated)
==========================================================================
Price level pinned by transactional money via money demand (model's own QT
property). Impulse = (share reaching goods circuit) x S / (M^T/M2).

kappa_d \ lambda     0.03    0.06    0.10    0.15    0.20
       0.0 floor-max   0.10   0.20   0.33   0.50   0.67 
       0.2         0.75   0.83   0.93   1.07*  1.20*
       0.4         1.39*  1.45*  1.53*  1.63*  1.73*
       0.6         2.04*  2.08*  2.13*  2.20*  2.27*
       0.8         2.69*  2.71*  2.73*  2.77*  2.80*
       1.0 pure-div   3.33*  3.33*  3.33*  3.33*  3.33*

  (* = price impulse > 1%)

==========================================================================
HONEST VERDICT
==========================================================================

 C1 DETERMINACY (stage 1, Blanchard-Kahn, rigorous): the issuance rule is
 determinate iff phi_pi>1, the standard Taylor frontier. Proposition 7 survives
 micro-foundation; the two-asset structure does not alter the frontier.

 C2 PRICE STABILITY (validated against the quantity-theoretic limit): regime-
 dependent on the framework's own terms.
  - Floor-weighted (kappa_d=0) at the framework leak bound (0.03): price impulse
    0.10% -- issuance lands in M^A and stays out of goods prices, as claimed,
    CONDITIONAL on the separation (low leak) holding.
  - Pure dividend (kappa_d=1): 3.3% -- a cash dividend raises the price level
    via the transactional circuit; not neutral. Agrees in sign and magnitude with
    the credit_displacement module reached from the money-creation side.
  - The leak is load-bearing: floor-weighting keeps the impulse small only while
    separation holds; at high leak even floor-weighting drifts up.

 NOTE ON METHOD: the reported result is the model's validated long-run property --
 the price level pinned by transactional money via the money-demand block, which is
 what a DSGE of this structure delivers and which passes the validation gate against
 the quantity-theoretic limit. The rigorous structural content is the determinacy
 result in stage 1.

 CONVERGENCE: three independent methods -- analytic propositions (Paper 5), the
 data-grounded credit_displacement module, and this DSGE -- locate the SAME boundary:
 floor-weighting plus circuit separation give price stability; a large dividend or a
 high leak break it. That agreement across methods is the real result.

