RDP 9001: Is Pitchford Right? Current Account Adjustment, Exchange Rate Dynamics and Macroeconomic Policy
Equation (6)
C
t
=
T
t
+
ra
t
=
[
(
v
−
1
)
x
−
z
+
v
y
−
v
q
t
]
+
r
a
t
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaai4qamaaBa aaleaacaqG0baabeaakiabg2da9iaabsfadaWgaaWcbaGaaeiDaaqa baGccqGHRaWkcaqGYbGaaeyyamaaBaaaleaacaqG0baabeaakiabg2 da9iaacUfacaGGOaGaaiODaGGaaiab=jHiTiaaigdacaGGPaGaaiiE aiab=jHiTiaacQhacqGHRaWkcaGG2bGaaiyEaiab=jHiTiaacAhaca GGXbWaaSbaaSqaaiaabshaaeqaaOGaaiyxaiabgUcaRiaackhacaGG HbWaaSbaaSqaaiaabshaaeqaaaaa@533B@