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RDP 8909: Optimal Wage Indexation, Monetary Policy and the Exchange Rate Regime
Equation (15)
Θ
=
1
−
[
(
β
4
+
β
1
β
3
)
{
β
4
β
2
+
β
1
(
α
+
1
)
}
{
(
1
+
ε
)
σ
2
u
+
ε
σ
u
2
}
]
/
[
V
1
+
V
2
]
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