RDP 8905: Monetary Policy Instruments: A Theoretical Analysis
Equation
π
1
=
α
2
σ
v
2
σ
u
2
−
δ
ρ
2
=
σ
u
2
σ
2
σ
w
2
−
δσ
u
2
/σ
v
2
π
2
=
-σ
v
2
σ
w
2
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