RDP 8702: Open Market Operations in Australia: A U.S. Perspective
Equation (11)
m
t
−
m
t
*
=
−
[
b
(
1
+
ac
2
)
a
+
b
+
c
1
]
(
r
t
−
E
t
−
1
*
r
t
)
−
[
1
−
bc
2
a
+
b
]
u
t
+
[
1
+
ac
2
a
+
b
]
w
t
+
e
t
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