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RDP 9203: Real Exchange Rates and the Globalisation of Financial Markets
Equation (7)
[
q
∘
(
t
)
a
∘
(
t
)
]
=
[
γ
η
1
+
ψ
η
γ
ψ
]
[
q
(
t
)
a
(
t
)
]
+
[
−
γ
η
z
(
t
)
−
(
a
d
(
t
)
+
R
e
∗
(
t
)
−
R
e
(
t
)
)
-γz
(
t
)
]
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaWaamWaaeaafa qabeGabaaabaWaaCbiaeaacaqGXbaaleqabaGaeSigI8gaaOWaaeWa aeaacaqG0baacaGLOaGaayzkaaaabaWaaCbiaeaacaqGHbaaleqaba GaeSigI8gaaOWaaeWaaeaacaqG0baacaGLOaGaayzkaaaaaaGaay5w aiaaw2faaiabg2da9maadmaabaqbaeqabiGaaaqaamaalaaabaGaae 4SdaqaaiaabE7aaaaabaGaaGymaiabgUcaRmaalaaabaGaaeiYdaqa aiaabE7aaaaabaGaae4SdaqaaiaabI8aaaaacaGLBbGaayzxaaWaam WaaeaafaqabeGabaaabaGaaeyCamaabmaabaGaaeiDaaGaayjkaiaa wMcaaaqaaiaabggadaqadaqaaiaabshaaiaawIcacaGLPaaaaaaaca GLBbGaayzxaaGaey4kaSYaamWaaeaafaqaaeGabaaabaGaeyOeI0Ya aSaaaeaacaqGZoaabaGaae4TdaaacaqG6bWaaeWaaeaacaqG0baaca GLOaGaayzkaaGaeyOeI0YaaeWaaeaacaqGHbWaaWbaaSqabeaacaqG KbaaaOWaaeWaaeaacaqG0baacaGLOaGaayzkaaGaey4kaSIaaeOuam aaCaaaleqabaGaaeyzaiabgEHiQaaakmaabmaabaGaaeiDaaGaayjk aiaawMcaaiabgkHiTiaabkfadaahaaWcbeqaaiaabwgaaaGcdaqada qaaiaabshaaiaawIcacaGLPaaaaiaawIcacaGLPaaaaeaacaqGTaGa ae4SdiaabQhadaqadaqaaiaabshaaiaawIcacaGLPaaaaaaacaGLBb Gaayzxaaaaaa@78DF@