RDP 2009-01: Currency Misalignments and Optimal Monetary Policy: A Re-examination Equation (A8)

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=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaam4yamaaDa aaleaacaWG0baabaGaaiOkaaaakiabg2da9maalaaabaGaamiraiab gUcaRiabe27aUjabgkHiTiaaigdaaeaacaaIYaGaamiraaaacaWG5b Waa0baaSqaaiaadshaaeaacaGGQaaaaOGaey4kaSYaaSaaaeaacaWG ebGaeyOeI0YaaeWaaeaacqaH9oGBcqGHsislcaaIXaaacaGLOaGaay zkaaaabaGaaGOmaiaadseaaaGaamyEamaaBaaaleaacaWG0baabeaa kiabgkHiTmaalaaabaGaeqyVd42aaeWaaeaacaaIYaGaeyOeI0Iaeq yVd4gacaGLOaGaayzkaaaabaGaaGOmaiaadseaaaGaeuiLdq0aaSba aSqaaiaadshaaeqaaOGaaiilaaaa@5AEA@