RDP 2009-01: Currency Misalignments and Optimal Monetary Policy: A Re-examination
Equation (A23)
π
H
t
*
=
δ
(
w
t
−
p
H
t
*
−
e
t
−
a
t
)
+
β
E
t
π
H
t
+
1
*
=
δ
(
w
t
−
p
H
t
−
Δ
t
−
a
t
)
+
β
E
t
π
H
t
+
1
*
.
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