RDP 8905: Monetary Policy Instruments: A Theoretical Analysis Equation (8)

( i ) R t = E t ( p t+1 p t )+ γp t ( priceleveltarget ) MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaqbaeqabeWaaa qaamaabmaabaGaaeyAaaGaayjkaiaawMcaaaqaaiaabkfadaWgaaWc baGaaeiDaaqabaGccqGH9aqpcaqGfbWaaSbaaSqaaiaabshaaeqaaO WaaeWaaeaacaqGWbWaaSbaaSqaaiaabshacqGHRaWkcaaIXaaabeaa kiabgkHiTiaabchadaWgaaWcbaGaaeiDaaqabaaakiaawIcacaGLPa aacqGHRaWkcaqGZoGaaeiCamaaBaaaleaacaqG0baabeaaaOqaamaa bmaabaGaaeiCaiaabkhacaqGPbGaae4yaiaabwgacaaMc8UaaeiBai aabwgacaqG2bGaaeyzaiaabYgacaaMc8UaaeiDaiaabggacaqGYbGa ae4zaiaabggacaqG0baacaGLOaGaayzkaaaaaaaa@5D82@