RDP 2009-01: Currency Misalignments and Optimal Monetary Policy: A Re-examination
Equation (B44)
y
t
+
y
t
∗
+
1
2
(
y
t
2
+
y
t
∗
2
)
=
c
t
+
c
t
∗
+
1
2
{
c
t
2
+
c
t
∗
2
+
ν
(
2
−
ν
2
)
s
t
2
}
+
o
(
‖
a
3
‖
)
.
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaamyEamaaBa aaleaacaWG0baabeaakiabgUcaRiaadMhadaqhaaWcbaGaamiDaaqa aiabgEHiQaaakiabgUcaRmaalaaabaGaaGymaaqaaiaaikdaaaGaai ikaiaadMhadaqhaaWcbaGaamiDaaqaaiaaikdaaaGccqGHRaWkcaWG 5bWaa0baaSqaaiaadshaaeaacaGGQaGaaGOmaaaakiaacMcacqGH9a qpcaWGJbWaaSbaaSqaaiaadshaaeqaaOGaey4kaSIaam4yamaaDaaa leaacaWG0baabaGaey4fIOcaaOGaey4kaSYaaSaaaeaacaaIXaaaba GaaGOmaaaadaGadaqaaiaadogadaqhaaWcbaGaamiDaaqaaiaaikda aaGccqGHRaWkcaWGJbWaa0baaSqaaiaadshaaeaacqGHxiIkcaaIYa aaaOGaey4kaSIaeqyVd42aaeWaaeaadaWcaaqaaiaaikdaiiaacqWF sislcqaH9oGBaeaacaaIYaaaaaGaayjkaiaawMcaaiaadohadaqhaa WcbaGaamiDaaqaaiaaikdaaaaakiaawUhacaGL9baacqGHRaWkcaWG VbWaaeWaaeaadaqbdaqaaiaadggadaahaaWcbeqaaiaaiodaaaaaki aawMa7caGLkWoaaiaawIcacaGLPaaacaGGUaaaaa@6EAA@