RDP 8908: Capital Flows and Exchange Rate Determination
Equation (1)
Δ
S
t
=
α
+
β
(
L
)
Δ
S
t
+
γ
(
L
)
Δ
i
t
+
δ
(
L
)
Δ
i
t
*
+
ε
t
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