RDP 9601: Why Does the Australian Dollar Move so Closely with the Terms of Trade?
Equation (14)
E
t
(
E
R
t
,
8
)
≈
100
×
E
t
B
(
q
t
+
8
−
q
t
)
+
2
E
t
(
8
r
t
A
U
S
−
8
r
t
∗
)
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