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RDP 2009-01: Currency Misalignments and Optimal Monetary Policy: A Re-examination
Equation (A10)
a
t
=
w
¯
t
−
p
¯
H
t
=
(
σ
(
1
+
D
)
2
D
+
ϕ
)
y
¯
t
+
σ
(
D
−
1
)
2
D
y
¯
t
*
−
ϕ
a
t
,
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaamyyamaaBa aaleaacaWG0baabeaakiabg2da9iqadEhagaqeamaaBaaaleaacaWG 0baabeaakiabgkHiTiqadchagaqeamaaBaaaleaacaWGibGaamiDaa qabaGccqGH9aqpdaqadaqaamaalaaabaGaeq4Wdm3aaeWaaeaacaaI XaGaey4kaSIaamiraaGaayjkaiaawMcaaaqaaiaaikdacaWGebaaai abgUcaRiabew9aMbGaayjkaiaawMcaaiqadMhagaqeamaaBaaaleaa caWG0baabeaakiabgUcaRmaalaaabaGaeq4Wdm3aaeWaaeaacaWGeb GaeyOeI0IaaGymaaGaayjkaiaawMcaaaqaaiaaikdacaWGebaaaiqa dMhagaqeamaaDaaaleaacaWG0baabaGaaiOkaaaakiabgkHiTiabew 9aMjaadggadaWgaaWcbaGaamiDaaqabaGccaGGSaaaaa@5EB1@