RDP 2009-01: Currency Misalignments and Optimal Monetary Policy: A Re-examination
Equation (12)
β
R
t
E
t
[
(
C
(
∇
t
+
1
)
/
C
(
∇
t
)
)
−
σ
(
P
t
/
P
t
+
1
)
]
=
1.
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