RDP 2009-01: Currency Misalignments and Optimal Monetary Policy: A Re-examination
Equation (38)
W
t
/
P
H
t
=
(
1
+
μ
t
W
)
C
t
σ
N
t
ϕ
S
t
1
−
(
ν
/
2
)
.
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