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RDP 9601: Why Does the Australian Dollar Move so Closely with the Terms of Trade?
Equation (12)
E
t
(
E
R
t
,
4
)
≈
100
×
E
t
B
(
q
t
+
4
−
q
t
)
+
E
t
(
4
r
t
A
U
S
−
4
r
t
∗
)
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