RDP 8909: Optimal Wage Indexation, Monetary Policy and the Exchange Rate Regime
Equation (12)
y
=
{
(
u
(
1
+
ε
)
−
εx
)
(
β
4
β
2
+
β
1
(
α
+
1
)
)
+
ε
(
1
−
θ
)
[
β
4
(
κ
+
s
)
+
β
4
β
2
(
ξ
+
υ
)
+
β
1
(
δ
−
τ
)
]
}
/
D
,
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