RDP 2009-10: Global Relative Price Shocks: The Role of Macroeconomic Policies
Equation (1)
i
i
=
i
t
−
1
+
β
1
(
π
t
−
π
t
T
)
+
β
2
(
Δ
y
t
−
Δ
y
t
T
)
+
β
3
(
Δ
e
t
−
Δ
e
t
T
)
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