RDP 2009-01: Currency Misalignments and Optimal Monetary Policy: A Re-examination
Equation (39)
P
˙
H
t
(
f
)
=
E
˙
t
P
˙
H
t
∗
(
f
)
=
(
1
−
τ
t
)
(
1
+
μ
P
)
W
˙
t
/
A
t
,
w
h
e
r
e
μ
P
≡
1
ξ
−
1
.
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