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RDP 8610: Equilibrium Exchange Rates and a Popular Model of International Asset Demands: An Inconsistency
Equation (26a)
0
=
(
1
−
a
^
s
^
+
1
−
Σ
a
^
s
^
+
j
)
a
^
s
^
+
i
e
w
^
+
(
a
s
+
1
+
Σ
^
a
s
+
j
)
a
i
w
i
=
2
,
…
,
s
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaqbaeaabeGaaa qaaiaaicdacqGH9aqpcaGGOaGaaGymaiabgkHiTiqadggagaqcamaa BaaaleaaceWGZbGbaKaacqGHRaWkcaaIXaaabeaakiabgkHiTiabfo 6atjqadggagaqcamaaBaaaleaaceWGZbGbaKaacqGHRaWkcaWGQbaa beaakiaacMcaceWGHbGbaKaadaWgaaWcbaGabm4CayaajaGaey4kaS IaamyAaaqabaGccaWGLbGabm4DayaajaGaey4kaSIaaiikaiaacgga daWgaaWcbaGaam4CaiabgUcaRiaaigdaaeqaaOGaey4kaSIafu4Odm LbaKaacaWGHbWaaSbaaSqaaiaadohacqGHRaWkcaWGQbaabeaakiaa cMcacaWGHbWaaSbaaSqaaiaadMgaaeqaaOGaam4DaaqaaiaadMgacq GH9aqpcaaIYaGaaiilaiablAciljaacYcacaWGZbaaaaaa@607A@