RDP 2008-03: Monetary Transmission and the Yield Curve in a Small Open Economy
Equation (16)
x
t
=
y
t
−
ϕ
2
y
t
*
−
ϕ
2
σ
(
g
t
−
g
t
*
)
−
ϕ
4
a
t
.
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