RDP 8703: Money Demand, Own Interest Rates and Deregulation Equation (3a)

m t − p t =−β( R t−1 + π t−1 − R t−1 m )+ϕ y t MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqr1ngB PrgifHhDYfgasaacH8srps0lbbf9q8WrFfeuY=Hhbbf9v8qqaqFr0x c9pk0xbba9q8WqFfea0=yr0RYxir=Jbba9q8aq0=yq=He9q8qqQ8fr Fve9Fve9Ff0dmeaabaqaciGacaGaaeqabaWaaeaaeaaakeaacaqGTb WaaSbaaSqaaiaabshaaeqaaOGaeyOeI0IaaeiCamaaBaaaleaacaqG 0baabeaakiabg2da9iabgkHiTiabek7aInaabmaabaGaaeOuamaaBa aaleaacaqG0bGaeyOeI0IaaGymaaqabaGccqGHRaWkcqaHapaCdaWg aaWcbaGaaeiDaiabgkHiTiaaigdaaeqaaOGaeyOeI0IaaeOuamaaDa aaleaacaqG0bGaeyOeI0IaaGymaaqaaiaab2gaaaaakiaawIcacaGL PaaacqGHRaWkcqaHvpGzcaqG5bWaaSbaaSqaaiaabshaaeqaaaaa@5561@