Skip to content
RDP 8905: Monetary Policy Instruments: A Theoretical Analysis
Equation (2')
Output
supply:
y
t
s
=
β
(
p
t
−
E
t-1
p
t
)
+
γy
t
−
1
+
v
t
y
t
s
=
y
t
d
(
market
clearing
)
.
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaqbaeqabiGaaa qaaiaab+eacaqG1bGaaeiDaiaabchacaqG1bGaaeiDaiaaykW7caqG ZbGaaeyDaiaabchacaqGWbGaaeiBaiaabMhacaqG6aaabaGaaeyEam aaDaaaleaacaqG0baabaGaam4Caaaakiabg2da9iabgkHiTiaabk7a daqadaqaaiaabchadaWgaaWcbaGaaeiDaaqabaGccqGHsislcaqGfb WaaSbaaSqaaiaabshacaqGTaGaaeymaaqabaGccaqGWbWaaSbaaSqa aiaabshaaeqaaaGccaGLOaGaayzkaaGaey4kaSIaae4SdiaabMhada WgaaWcbaGaaeiDaiabgkHiTiaaigdaaeqaaOGaey4kaSIaaeODamaa BaaaleaacaqG0baabeaaaOqaaaqaaiaabMhadaqhaaWcbaGaaeiDaa qaaiaabohaaaGccqGH9aqpcaqG5bWaa0baaSqaaiaabshaaeaacaqG KbaaaOWaaeWaaeaacaqGTbGaaeyyaiaabkhacaqGRbGaaeyzaiaabs hacaaMc8Uaae4yaiaabYgacaqGLbGaaeyyaiaabkhacaqGPbGaaeOB aiaabEgaaiaawIcacaGLPaaacaGGUaaaaaaa@74F0@