RDP 9108: Australia's Real Exchange Rate – Is it Explained by the Terms of Trade or by Real Interest Differentials?
Equation
q
¯
t
=
γ
+
β
T
O
T
t
,
β
>
0.
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGabmyCayaara WaaSbaaSqaaiaadshaaeqaaOGaeyypa0Jaeq4SdCMaey4kaSIaeqOS diMaamivaiaad+eacaWGubWaaSbaaSqaaiaadshaaeqaaOGaaiilai aaykW7caaMc8UaeqOSdiMaeyOpa4JaaGimaiaac6caaaa@48F3@