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RDP 8905: Monetary Policy Instruments: A Theoretical Analysis
Equation (18)
p
t
d
=
p
t
n
+
(
p
t
−
1
d
+
y
t
−
1
d
)
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaaeiCamaaDa aaleaacaqG0baabaGaaeizaaaakiabg2da9iaabchadaqhaaWcbaGa aeiDaaqaaiaab6gaaaGccqGHRaWkdaqadaqaaiaabchadaqhaaWcba GaaeiDaiabgkHiTiaaigdaaeaacaqGKbaaaOGaey4kaSIaaeyEamaa DaaaleaacaqG0bGaeyOeI0IaaGymaaqaaiaabsgaaaaakiaawIcaca GLPaaaaaa@49CC@