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Solve the following problem using Python, implementing the functions described below, one line at a time
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Description:
 def _create_model_by_type(self, type):
 """ Create a new model instance by type. :rtype: Model """

        klass = None
        for cls in eloquent.orm.model.Model.__subclasses__():
            morph_class = cls.__morph_class__ or cls.__name__
            if morph_class == type:
                klass = cls
                break

        return klass()