RDP 8610: Equilibrium Exchange Rates and a Popular Model of International Asset Demands: An Inconsistency
Equation
E
t
d
[
e
−
δ
t
J
]
/
dt
=
e
−
δ
t
[
−
δ
J
+
E
t
(
dw
)
J
′
+
1
2
var
t
(
dw
)
J
″
]
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaaeyramaaBa aaleaacaqG0baabeaakiaabsgacaGGBbGaaeyzamaaCaaaleqabaGa eyOeI0IaeqiTdqMaaeiDaaaakiaabQeacaGGDbGaai4laiaabsgaca qG0bGaeyypa0JaaeyzamaaCaaaleqabaGaeyOeI0IaeqiTdqMaaeiD aaaakiaacUfacqGHsislcqaH0oazcaqGkbGaey4kaSIaaeyramaaBa aaleaacaqG0baabeaakiaacIcacaqGKbGaae4DaiaacMcaceqGkbGb auaacqGHRaWkdaWcdaWcbaGaaGymaaqaaiaaikdaaaGccaqG2bGaae yyaiaabkhadaWgaaWcbaGaaeiDaaqabaGccaGGOaGaaeizaiaabEha caGGPaGaaeOsaiaackcacaGGDbaaaa@5F7C@