RDP 2009-01: Currency Misalignments and Optimal Monetary Policy: A Re-examination Equation (21)

S t ∗ = P H t ∗ / P F t ∗ . MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaam4uamaaDa aaleaacaWG0baabaGaey4fIOcaaOGaeyypa0JaamiuamaaDaaaleaa caWGibGaamiDaaqaaiabgEHiQaaakiaac+cacaWGqbWaa0baaSqaai aadAeacaWG0baabaGaey4fIOcaaOGaaiOlaaaa@42D8@