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RDP 9203: Real Exchange Rates and the Globalisation of Financial Markets
Equation (2)
A
(
t
)
Y
(
t
)
=
p
(
t
)
B
(
t
)
p
(
t
)
y
(
t
)
+
(
1
+
r
*
(
t
)
)
(
1
+
Δ
s
(
t
)
)
1
+
g
(
t
)
A
(
t-1
)
Y
(
t-1
)
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