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RDP 8905: Monetary Policy Instruments: A Theoretical Analysis
Equation
p
t
=
γ
1
+
γ
p
t
*
+
1
α
(
1
+
γ
)
u
t
+
1
1
+
γ
E
t
p
t
+
1
*
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaaiiCamaaBa aaleaacaqG0baabeaakiabg2da9maalaaabaGaae4Sdaqaaiaaigda cqGHRaWkcaqGZoaaaiaabchadaWgaaWcbaGaamiDaaqabaGcdaahaa WcbeqaaiaacQcaaaGccqGHRaWkdaWcaaqaaiaaigdaaeaacaqGXoWa aeWaaeaacaaIXaGaey4kaSIaae4SdaGaayjkaiaawMcaaaaacaqG1b WaaSbaaSqaaiaabshaaeqaaOGaey4kaSYaaSaaaeaacaaIXaaabaGa aGymaiabgUcaRiaabo7aaaGaaeyramaaBaaaleaacaqG0baabeaaki aabchadaWgaaWcbaGaaeiDaiabgUcaRiaaigdaaeqaaOWaaWbaaSqa beaacaGGQaaaaaaa@54BB@