RDP 2009-01: Currency Misalignments and Optimal Monetary Policy: A Re-examination
Equation (B37)
c
˜
t
=
c
y
y
˜
t
+
(
1
−
c
y
)
y
˜
t
∗
+
ν
(
2
−
ν
)
2
D
Δ
t
+
o
(
‖
a
2
‖
)
,
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