Evans, Martin D. D. (contributor); … - 2005
augmented by C
t,z∗
:
these are deposits received in exchange for exports of US goods. We assume that C
t,z
∗ includes an … maximizes the trading
information available to each.) For exports, a more decentralized market, it is perhaps more natural to … unexpected demand for US
goods (i.e. US exports).
17
In the UK case, the fraction is γ
t,z
−
ˆ
ζ
t,z
, where
ˆ
ζ
t,z
≡
³
ˆ
C
t …