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RDP 9601: Why Does the Australian Dollar Move so Closely with the Terms of Trade?
Equation
Δ
t
o
t
t
=
α
+
β
t
+
(
ρ
−
1
)
t
o
t
t
−
1
+
∑
j
=
1
p
γ
j
Δ
t
o
t
t
−
j
+
ε
t
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