RDP 2010-07: Monetary Policy and the Exchange Rate: Evaluation of VAR Models Equation

where  Q i , j ( θ i , j ) = [ col     i col    j 1 ↓ ↓ ⋯ row i → c o s ( θ i , j ) ⋯ − s i n ( θ i , j ) ⋯ 1 ⋯ r o w j → s i n ( θ i , j ) ⋯ c o s ( θ i , j ) ⋯ 1 ] MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=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@9669@