RDP 2009-01: Currency Misalignments and Optimal Monetary Policy: A Re-examination
Equation (51)
P
H
t
∗
=
[
θ
(
P
H
t
−
1
∗
)
1
−
ξ
+
(
1
−
θ
)
(
P
H
t
0
*
)
1
−
ξ
]
1
/
(
1
−
ξ
)
.
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