RDP 9709: Asset-Price Bubbles and Monetary Policy Equation (1)

π t = α A t + β D t Δ A t − R t − 1 α ≥ 0 ,   β ≥ 0 MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaqbaeqabeGaaa qaaiabec8aWnaaBaaaleaacaWG0baabeaakiabg2da9iabeg7aHjaa dgeadaWgaaWcbaGaamiDaaqabaGccqGHRaWkcqaHYoGycaWGebWaaS baaSqaaiaadshaaeqaaOGaeuiLdqKaamyqamaaBaaaleaacaWG0baa beaakiabgkHiTiaadkfadaWgaaWcbaGaamiDaiabgkHiTiaaigdaae qaaaGcbaGaeqySdeMaeyyzImRaaGimaaaacaGGSaGaaGPaVlabek7a IjabgwMiZkaaicdaaaa@5475@