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RDP 2009-01: Currency Misalignments and Optimal Monetary Policy: A Re-examination
Equation (5)
P
t
C
t
(
h
)
+
∑
s
t
∈
Ω
t
Z
(
∇
t
+
1
|
∇
t
)
D
(
h
,
∇
t
+
1
)
=
W
t
(
h
)
N
t
(
h
)
+
Γ
t
−
Τ
t
+
D
(
h
,
∇
t
)
,
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