Skip to content
RDP 8610: Equilibrium Exchange Rates and a Popular Model of International Asset Demands: An Inconsistency
Equation (26b)
0
=
(
a
^
s
^
+
1
+
Σ
a
^
s
^
+
j
)
(
1
−
a
^
s
^
+
1
−
Σ
a
^
s
^
+
j
)
e
w
^
+
(
1
−
a
s
+
1
−
Σ
^
a
s
+
j
)
(
a
s
+
1
+
Σ
^
a
s
+
j
)
w
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaaGimaiabg2 da9iaacIcaceWGHbGbaKaadaWgaaWcbaGabm4CayaajaGaey4kaSIa aGymaaqabaGccqGHRaWkcqqHJoWuceWGHbGbaKaadaWgaaWcbaGabm 4CayaajaGaey4kaSIaamOAaaqabaGccaGGPaGaaiikaiaaigdacqGH sislceWGHbGbaKaadaWgaaWcbaGabm4CayaajaGaey4kaSIaaGymaa qabaGccqGHsislcqqHJoWuceWGHbGbaKaadaWgaaWcbaGabm4Cayaa jaGaey4kaSIaamOAaaqabaGccaGGPaGaaiyzaiqacEhagaqcaiabgU caRiaacIcacaaIXaGaeyOeI0IaaiyyamaaBaaaleaacaWGZbGaey4k aSIaaGymaaqabaGccqGHsislcuqHJoWugaqcaiaadggadaWgaaWcba Gaam4CaiabgUcaRiaadQgaaeqaaOGaaiykaiaacIcacaGGHbWaaSba aSqaaiaadohacqGHRaWkcaaIXaaabeaakiabgUcaRiqbggHiLBaaja GaamyyamaaBaaaleaacaWGZbGaey4kaSIaamOAaaqabaGccaGGPaGa am4Daaaa@6D00@