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RDP 2010-02: Learning in an Estimated Small Open Economy Model
Equation (A13)
c
t
=
1
1
+
η
(
E
t
c
t
+
1
+
η
c
t
−
1
)
−
1
−
η
(
1
+
η
)
γ
(
r
t
−
E
t
π
t
+
1
)
+
1
−
η
(
1
+
η
)
γ
(
ν
t
d
−
E
t
ν
t
+
1
d
)
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