RDP 2009-01: Currency Misalignments and Optimal Monetary Policy: A Re-examination
Equation (B25)
c
t
=
y
t
+
(
ν
−
2
2
)
(
ν
+
1
−
ν
σ
)
S
t
+
1
2
(
ν
−
2
2
)
ν
2
(
ν
−
1
)
2
(
σ
−
1
σ
)
2
S
t
2
+
o
(
‖
a
3
‖
)
.
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