RDP 8906: A Random Walk Around the $A: Expectations, Risk, Interest Rates and Consequences for External Imbalance
Equation
1
+
ρ
j
≡
1
+
i
j
P
t+1
us
/
P
t
us
.
(
S
t
+
1
[
j/$US
]
/
S
t
[
j/$US
]
)
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