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RDP 2009-01: Currency Misalignments and Optimal Monetary Policy: A Re-examination
Equation (52)
E
t
∑
j
=
0
∞
θ
j
Q
t
,
t
+
j
[
P
H
t
0
(
z
)
C
H
t
+
j
(
f
)
+
E
t
P
H
t
0
*
C
H
t
+
j
*
(
f
)
−
(
1
−
τ
t
)
W
t
+
j
N
t
+
j
(
f
)
]
.
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