RDP 9203: Real Exchange Rates and the Globalisation of Financial Markets
Equation (7)
[
q
∘
(
t
)
a
∘
(
t
)
]
=
[
γ
η
1
+
ψ
η
γ
ψ
]
[
q
(
t
)
a
(
t
)
]
+
[
−
γ
η
z
(
t
)
−
(
a
d
(
t
)
+
R
e
∗
(
t
)
−
R
e
(
t
)
)
-γz
(
t
)
]
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