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RDP 8905: Monetary Policy Instruments: A Theoretical Analysis
Equation (8)
(
i
)
R
t
=
E
t
(
p
t
+
1
−
p
t
)
+
γp
t
(
price
level
target
)
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaqbaeqabeWaaa qaamaabmaabaGaaeyAaaGaayjkaiaawMcaaaqaaiaabkfadaWgaaWc baGaaeiDaaqabaGccqGH9aqpcaqGfbWaaSbaaSqaaiaabshaaeqaaO WaaeWaaeaacaqGWbWaaSbaaSqaaiaabshacqGHRaWkcaaIXaaabeaa kiabgkHiTiaabchadaWgaaWcbaGaaeiDaaqabaaakiaawIcacaGLPa aacqGHRaWkcaqGZoGaaeiCamaaBaaaleaacaqG0baabeaaaOqaamaa bmaabaGaaeiCaiaabkhacaqGPbGaae4yaiaabwgacaaMc8UaaeiBai aabwgacaqG2bGaaeyzaiaabYgacaaMc8UaaeiDaiaabggacaqGYbGa ae4zaiaabggacaqG0baacaGLOaGaayzkaaaaaaaa@5D82@