begin with the the definition of the logstock return,rt+1 = log[(Pt+1+Dt+1)/Pt]。
log-linear approximation of rt+1 is given by rt+1 = k +a*pt+1 +(1-a)dt+1 -pt,where
a =1/[1+exp(d-p)]
k = -log(a)-(1-a)*log[(1/a)-1]
其中,(d-p)表示dt-pt的均值
怎么求出来的?求大神指教



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