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(19), we have an approximate relation of the following kind log(Pt ) 5 n[g log( p1t ) 1 (1 2 g ) log( p2t )] 1 (1 2 n) log(´t p *t ) (A. login payroll 4) A Razin, C -W Yuen / Economics Letters 75 (2002) 1 – 9 9 From this and (A 3), the unanticipated rate of inflation is given by log(Pt ) 2 Et 21flog(Pt )g 5 ng [log( p1t ) 2 log( p2t )] 1 (1 2 n)hlog(´t