RDP 9304: Exchange Rate Pass-Through: The Different Responses of Importers and Exporters Equation (5)

( c ^ + m ^ ) = ( c ^ + m ^ ) + e ^ MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaWaaeWaaeaace WGJbGbaKaacqGHRaWkceWGTbGbaKaaaiaawIcacaGLPaaacqGH9aqp daqadaqaaiqadogagaqcamaaCaaaleqabaGaey4fIOcaaOGaey4kaS IabmyBayaajaWaaWbaaSqabeaacqGHxiIkaaaakiaawIcacaGLPaaa cqGHRaWkceWGLbGbaKaaaaa@43EE@