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
)
]
.
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaacbiGaa8xram aaBaaaleaacaWG0baabeaakmaaqahabaGaeqiUde3aaWbaaSqabeaa caWGQbaaaOGaamyuamaaBaaaleaacaWG0bGaaiilaiaadshacqGHRa WkcaWGQbaabeaaaeaacaWGQbGaeyypa0JaaGimaaqaaiabg6HiLcqd cqGHris5aOWaamWaaeaacaWGqbWaa0baaSqaaiaadIeacaWG0baaba GaaGimaaaakiaacIcacaWG6bGaaiykaiaadoeadaWgaaWcbaGaamis aiaadshacqGHRaWkcaWGQbaabeaakiaacIcacaWGMbGaaiykaiabgU caRiaadweadaWgaaWcbaGaamiDaaqabaGccaWGqbWaa0baaSqaaiaa dIeacaWG0baabaGaaGimaiaacQcaaaGccaWGdbWaa0baaSqaaiaadI eacaWG0bGaey4kaSIaamOAaaqaaiaacQcaaaGccaGGOaGaamOzaiaa cMcaiiaacqGFsislcaGGOaGaaGymaiab+jHiTiabes8a0naaBaaale aacaWG0baabeaakiab+LcaPiaadEfadaWgaaWcbaGaamiDaiabgUca RiaadQgaaeqaaOGaamOtamaaBaaaleaacaWG0bGaey4kaSIaamOAaa qabaGccaGGOaGaamOzaiaacMcaaiaawUfacaGLDbaacaGGUaaaaa@759E@