RDP 2010-02: Learning in an Estimated Small Open Economy Model
Equation (3)
B
t
+
1
+
S
t
B
t
+
1
*
+
P
t
C
t
=
W
t
N
t
+
Π
t
+
r
t
−
1
B
t
+
r
t
−
1
*
S
t
B
t
*
Φ
(
a
t
*
,
ν
t
s
)
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