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RDP 8610: Equilibrium Exchange Rates and a Popular Model of International Asset Demands: An Inconsistency
Equation (29)
−
[
(
a
3
+
a
4
)
w
−
(
1
−
a
^
3
−
a
^
4
)
e
w
^
]
σ
e
d
z
e
=
[
a
2
w
−
a
^
4
e
w
^
]
σ
2
d
z
2
+
[
a
4
w
−
a
^
2
e
w
^
]
σ
^
2
d
z
^
2
]
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaeyOeI0Iaai 4waiaacIcacaGGHbWaaSbaaSqaaiaaiodaaeqaaOGaey4kaSIaaiyy amaaBaaaleaacaaI0aaabeaakiaacMcacaGG3bGaeyOeI0Iaaiikai aaigdacqGHsislceGGHbGbaKaadaWgaaWcbaGaaG4maaqabaGccqGH sislceGGHbGbaKaadaWgaaWcbaGaaGinaaqabaGccaGGPaGaaiyzai qacEhagaqcaiaac2facqaHdpWCdaWgaaWcbaGaamyzaaqabaGccaWG KbGaamOEamaaBaaaleaacaWGLbaabeaakiabg2da9iaacUfacaGGHb WaaSbaaSqaaiaaikdaaeqaaOGaai4DaiabgkHiTiqacggagaqcamaa BaaaleaacaaI0aaabeaakiaacwgaceGG3bGbaKaacaGGDbGaeq4Wdm 3aaSbaaSqaaiaaikdaaeqaaOGaamizaiaadQhadaWgaaWcbaGaaGOm aaqabaGccqGHRaWkcaGGBbGaaiyyamaaBaaaleaacaaI0aaabeaaki aacEhacqGHsislceGGHbGbaKaadaWgaaWcbaGaaGOmaaqabaGccaGG LbGabi4DayaajaGaaiyxaiqbeo8aZzaajaWaaSbaaSqaaiaaikdaae qaaOGaamizaiqadQhagaqcamaaBaaaleaacaaIYaaabeaakiaac2fa aaa@70D4@