RDP 2009-01: Currency Misalignments and Optimal Monetary Policy: A Re-examination
Equation (70)
s
t
−
s
t
−
1
=
σ
D
(
y
t
−
y
t
*
−
(
y
t
−
1
−
y
t
−
1
*
)
)
−
(
ν
−
1
)
D
(
Δ
t
−
Δ
t
−
1
)
.
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