Bulletin – September 2018
Equation (2)
Δ
(
R
M
B
C
A
D
)
t
=
β
0
+
β
U
S
D
Δ
(
U
S
D
C
A
D
)
t
+
β
E
U
R
Δ
(
E
U
R
C
A
D
)
t
+
β
J
P
Y
Δ
(
J
P
Y
C
A
D
)
t
+
β
G
B
P
Δ
(
G
B
P
C
A
D
)
t
+
w
t
.