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
)
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaam4yamaaBa aaleaacaWG0baabeaakiabg2da9maalaaabaGaaGymaaqaaiaaigda cqGHRaWkcqaH3oaAaaWaaeWaaeaatuuDJXwAK1uy0HMmaeHbfv3ySL gzG0uy0HgiuD3BaGqbaiab=ri8fnaaBaaaleaacaWG0baabeaakiaa dogadaWgaaWcbaGaamiDaiabgUcaRiaaigdaaeqaaOGaey4kaSIaeq 4TdGMaam4yamaaBaaaleaacaWG0bGaeyOeI0IaaGymaaqabaaakiaa wIcacaGLPaaacqGHsisldaWcaaqaaiaaigdacqGHsislcqaH3oaAae aadaqadaqaaiaaigdacqGHRaWkcqaH3oaAaiaawIcacaGLPaaacqaH ZoWzaaWaaeWaaeaacaWGYbWaaSbaaSqaaiaadshaaeqaaOGaeyOeI0 Iae8hHWx0aaSbaaSqaaiaadshaaeqaaOGaeqiWda3aaSbaaSqaaiaa dshacqGHRaWkcaaIXaaabeaaaOGaayjkaiaawMcaaiabgUcaRmaala aabaGaaGymaiabgkHiTiabeE7aObqaamaabmaabaGaaGymaiabgUca RiabeE7aObGaayjkaiaawMcaaiabeo7aNbaadaqadaqaaiabe27aUn aaDaaaleaacaWG0baabaGaamizaaaakiabgkHiTiab=ri8fnaaBaaa leaacaWG0baabeaakiabe27aUnaaDaaaleaacaWG0bGaey4kaSIaaG ymaaqaaiaadsgaaaaakiaawIcacaGLPaaaaaa@86FE@