RDP 9006: Wage Contracts, Sticky Prices and Exchange Rate Volatility: Evidence from Nine Industrial Countries
Equation (9b)
Min
θ
E
t
−
1
{
∑
i=0
n−1
δ
i+1
[
(
(
w
t+1
1
−
t+i−1
p
t+i
)
−
(
w
1
t+i
−
t+i−1
p
t+i
)
o
)
−
t−i
(
(
w
1
t+i
−
t+i−1
p
t+i
)
−
(
w
1
t+i
−
t+i−1
p
t+i
)
o
)
]
2
}
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaWaaCbeaeaaca qGnbGaaeyAaiaab6gaaSqaaiabeI7aXbqabaGccaaMc8UaaGPaVlaa bweadaWgaaWcbaGaaeiDaiabgkHiTiaaigdaaeqaaOWaaiWaaeaada aeWbqaaiabes7aKnaaCaaaleqabaGaaeyAaiaabUcacaqGXaaaaOWa amWaaeaadaqadaqaamaabmaabaGaae4DamaaDaaaleaacaqG0bGaae 4kaiaabgdaaeaacaqGXaaaaOGaaeylamaaBaaaleaacaqG0bGaae4k aiaabMgacaqGTaGaaeymaaqabaGccaqGWbWaaSbaaSqaaiaabshaca qGRaGaaeyAaaqabaaakiaawIcacaGLPaaacaqGTaWaaeWaaeaacaqG 3bWaaWbaaSqabeaacaqGXaaaaOWaaSbaaSqaaiaabshacaqGRaGaae yAaaqabaGccaqGTaWaaSbaaSqaaiaabshacaqGRaGaaeyAaiaab2ca caqGXaaabeaakiaabchadaWgaaWcbaGaaeiDaiaabUcacaqGPbaabe aaaOGaayjkaiaawMcaamaaCaaaleqabaGaae4BaaaaaOGaayjkaiaa wMcaaiaab2cadaWgaaWcbaGaaeiDaiaab2cacaqGPbaabeaakmaabm aabaWaaeWaaeaacaqG3bWaaWbaaSqabeaacaqGXaaaaOWaaSbaaSqa aiaabshacaqGRaGaaeyAaaqabaGccaqGTaWaaSbaaSqaaiaabshaca qGRaGaaeyAaiaab2cacaqGXaaabeaakiaabchadaWgaaWcbaGaaeiD aiaabUcacaqGPbaabeaaaOGaayjkaiaawMcaaiaab2cadaqadaqaai aabEhadaahaaWcbeqaaiaabgdaaaGcdaWgaaWcbaGaaeiDaiaabUca caqGPbaabeaakiaab2cadaWgaaWcbaGaaeiDaiaabUcacaqGPbGaae ylaiaabgdaaeqaaOGaaeiCamaaBaaaleaacaqG0bGaae4kaiaabMga aeqaaaGccaGLOaGaayzkaaWaaWbaaSqabeaacaqGVbaaaaGccaGLOa GaayzkaaaacaGLBbGaayzxaaaaleaacaqGPbGaaeypaiaabcdaaeaa caqGUbGaaeylaiaabgdaa0GaeyyeIuoakmaaCaaaleqabaGaaeOmaa aaaOGaay5Eaiaaw2haaaaa@967F@