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RDP 8906: A Random Walk Around the $A: Expectations, Risk, Interest Rates and Consequences for External Imbalance
Equation (8)
1
+
δ
≡
(
S
t+1
/
S
t
)
.
(
1
+
i
A
)
/
(
1
+
i
us
)
,
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaaGymaiabgU caRiaabs7acqGHHjIUdaqadaqaaiaabofadaWgaaWcbaGaaeiDaiaa bUcacaqGXaaabeaakiaac+cacaqGtbWaaSbaaSqaaiaabshaaeqaaa GccaGLOaGaayzkaaGaaiOlamaabmaabaGaaGymaiabgUcaRiaabMga daahaaWcbeqaaiaabgeaaaaakiaawIcacaGLPaaacaGGVaWaaeWaae aacaaIXaGaey4kaSIaaeyAamaaCaaaleqabaGaaeyDaiaabohaaaaa kiaawIcacaGLPaaacaGGSaaaaa@4F93@