RDP 2009-01: Currency Misalignments and Optimal Monetary Policy: A Re-examination
Equation (77)
π
t
R
=
δ
[
σ
(
ν
−
1
)
D
y
˜
t
R
+
σ
ν
(
2
−
ν
)
D
Δ
t
]
+
β
E
t
π
t
+
1
R
+
(
ν
−
1
)
u
t
R
,
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