RDP 2009-01: Currency Misalignments and Optimal Monetary Policy: A Re-examination Equation (74)

s t = 1 1 + δ + β s t 1 + β 1 + δ + β E t s t + 1 + 1 1 + δ + β ϑ t , MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaam4CamaaBa aaleaacaWG0baabeaakiabg2da9maalaaabaGaaGymaaqaaiaaigda cqGHRaWkcqaH0oazcqGHRaWkcqaHYoGyaaGaam4CamaaBaaaleaaca WG0bGaeyOeI0IaaGymaaqabaGccqGHRaWkdaWcaaqaaiabek7aIbqa aiaaigdacqGHRaWkcqaH0oazcqGHRaWkcqaHYoGyaaGaamyramaaBa aaleaacaWG0baabeaakiaadohadaWgaaWcbaGaamiDaiabgUcaRiaa igdaaeqaaOGaey4kaSYaaSaaaeaacaaIXaaabaGaaGymaiabgUcaRi abes7aKjabgUcaRiabek7aIbaacqaHrpGsdaWgaaWcbaGaamiDaaqa baGccaGGSaaaaa@5C90@