RDP 7903: Monetary Rules: A Preliminary Analysis
Equation
Dlog
P
d
d
=
.46
(
5.2
)
(
log
P
d
^
−
log
P
d
d
)
−
.12
(
−
2.2
)
(
log
P
m
^
−
log
M
)
log
P
d
^
=
d
0
+
1.0
log
(
Py
−
T
1
+
Pc
)
−
.28
(
−
2.5
)
(
r
−
4.0
Dlog
P
)
log
m
^
=
m
0
+
1.0
log
y
−
2.70
(
−
2.9
)
r
−
2.13
(
−
2.6
)
r
w
+
.38
(
1.1
)
r
b
1
+
.06
(
0.8
)
log
EP
w
log
P
d
=
P
d
o
+
.2
log
EP
i
+
(
1
−
.2
)
log
P
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