RDP 2009-01: Currency Misalignments and Optimal Monetary Policy: A Re-examination Equation (25)

Δ t ≡ e t + p H t ∗ − p H t . MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaeyiLdq0aaS baaSqaaiaadshaaeqaaOGaeyyyIORaamyzamaaBaaaleaacaWG0baa beaakiabgUcaRiaadchadaqhaaWcbaGaamisaiaadshaaeaacqGHxi IkaaaccaGccqWFsislcaWGWbWaaSbaaSqaaiaadIeacaWG0baabeaa kiaac6caaaa@45C4@