RDP 2010-07: Monetary Policy and the Exchange Rate: Evaluation of VAR Models
Equation (4)
x
t
*
≡
y
t
*
−
y
¯
t
*
=
y
t
*
−
ϕ
1
a
t
*
.
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaamiEamaaDaaaleaacaWG0baabaGaaiOkaaaakiabggMi6kaadMhadaqhaaWcbaGaamiDaaqaaiaacQcaaaGccqGHsislceWG5bGbaebadaqhaaWcbaGaamiDaaqaaiaacQcaaaGccqGH9aqpcaWG5bWaa0baaSqaaiaadshaaeaacaGGQaaaaOGaeyOeI0Iaeqy1dy2aaSbaaSqaaiaaigdaaeqaaOGaamyyamaaDaaaleaacaWG0baabaGaaiOkaaaakiaac6caaaa@4C53@