RDP 2009-01: Currency Misalignments and Optimal Monetary Policy: A Re-examination
Equation (B1)
υ
t
≡
1
1
−
σ
(
C
t
1
−
σ
+
C
t
*
1
−
σ
)
−
1
1
+
ϕ
(
N
t
+
j
1
+
ϕ
+
N
t
+
j
*
1
+
ϕ
)
.
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaeqyXdu3aaS baaSqaaiaadshaaeqaaOGaeyyyIO7aaSaaaeaacaaIXaaabaGaaGym aiabgkHiTiabeo8aZbaadaqadaqaaiaadoeadaqhaaWcbaGaamiDaa qaaiaaigdacqGHsislcqaHdpWCaaGccqGHRaWkcaWGdbWaa0baaSqa aiaadshaaeaacaGGQaGaaGymaiabgkHiTiabeo8aZbaaaOGaayjkai aawMcaaiabgkHiTmaalaaabaGaaGymaaqaaiaaigdacqGHRaWkcqaH vpGzaaWaaeWaaeaacaWGobWaa0baaSqaaiaadshacqGHRaWkcaWGQb aabaGaaGymaiabgUcaRiabew9aMbaakiabgUcaRiaad6eadaqhaaWc baGaamiDaiabgUcaRiaadQgaaeaacaGGQaGaaGymaiabgUcaRiabew 9aMbaaaOGaayjkaiaawMcaaiaac6caaaa@6424@