RDP 2009-01: Currency Misalignments and Optimal Monetary Policy: A Re-examination
Equation (A7)
c
t
=
D
+
ν
−
1
2
D
y
t
+
D
−
(
ν
−
1
)
2
D
y
t
*
+
ν
(
2
−
ν
)
2
D
Δ
t
,
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