RDP 2018-04: DSGE Reno: Adding a Housing Block to a Small Open Economy Model
Equation (31)
r
t
*
=
ρ
r
*
r
t
−
1
*
+
(
1
−
ρ
r
*
)
(
ϕ
π
*
π
t
*
+
ϕ
d
y
*
(
y
t
*
−
y
t
−
1
*
)
)
+
ε
r
*
,
t
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