RDP 2009-01: Currency Misalignments and Optimal Monetary Policy: A Re-examination
Equation (19)
Y
t
∗
=
C
F
t
+
C
F
t
∗
=
(
1
−
ν
2
)
P
t
C
t
P
F
t
+
ν
2
P
t
∗
C
t
∗
P
F
t
∗
=
k
−
1
(
ν
2
(
S
t
∗
)
1
−
(
ν
/
2
)
C
t
∗
+
(
1
−
ν
2
)
S
t
−
ν
/
2
C
t
)
.
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