RDP 2008-07: A Medium-Scale Open Economy Model of Australia Equation (5)

E t Δ S ^ t + 1 = ( R ^ t R ^ t * ) + ϕ ˜ a a ^ t ϕ ˜ ^ t MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaamyramaaBa aaleaacaWG0baabeaakiabfs5aenaaHaaabaGaam4uaaGaayPadaWa aSbaaSqaaiaadshacqGHRaWkcaaIXaaabeaakiabg2da9maabmaaba WaaecaaeaacaWGsbaacaGLcmaadaWgaaWcbaGaamiDaaqabaGccqGH sisldaqiaaqaaiaadkfaaiaawkWaamaaDaaaleaacaWG0baabaGaai OkaaaaaOGaayjkaiaawMcaaiabgUcaRiqbew9aMzaaiaWaaSbaaSqa aiaadggaaeqaaOWaaecaaeaacaWGHbaacaGLcmaadaWgaaWcbaGaam iDaaqabaGccqGHsisldaqiaaqaaiqbew9aMzaaiaaacaGLcmaadaWg aaWcbaGaamiDaaqabaaaaa@52CD@