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RDP 9806: Policy Rules for Open Economies
Equation (B.1)
e
=
(
λ
z
+
α
n
)
y
−
1
+
n
π
−
1
−
(
β
/
θ
+
δ
)
z
e
−
1
+
γ
n
e
−
2
+
z
ε
+
n
η
+
β
m
ν
+
β
z
ν
−
1
,
z
=
λ
m
+
α
n
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