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 , MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaam4yamaaBa aaleaacaWG0baabeaakiabg2da9maalaaabaGaamiraiabgUcaRiab e27aUjabgkHiTiaaigdaaeaacaaIYaGaamiraaaacaWG5bWaaSbaaS qaaiaadshaaeqaaOGaey4kaSYaaSaaaeaacaWGebGaeyOeI0YaaeWa aeaacqaH9oGBcqGHsislcaaIXaaacaGLOaGaayzkaaaabaGaaGOmai aadseaaaGaamyEamaaDaaaleaacaWG0baabaGaaiOkaaaakiabgUca RmaalaaabaGaeqyVd42aaeWaaeaacaaIYaGaeyOeI0IaeqyVd4gaca GLOaGaayzkaaaabaGaaGOmaiaadseaaaGaeuiLdq0aaSbaaSqaaiaa dshaaeqaaOGaaiilaaaa@5A30@