RDP 8905: Monetary Policy Instruments: A Theoretical Analysis Equation

π 1 = 1 β+αγ π 2 = π 1 π 3 = λ αγ . MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaqbaeqabmqaaa qaaiaabc8adaWgaaWcbaGaaGymaaqabaGccqGH9aqpdaWcaaqaaiaa igdaaeaacaqGYoGaey4kaSIaaeySdiaabo7aaaaabaGaaeiWdmaaBa aaleaacaaIZaaabeaakiabg2da9iabgkHiTiaabc8adaWgaaWcbaGa aGymaaqabaaakeaacaqGapWaaSbaaSqaaiaaiodaaeqaaOGaeyypa0 ZaaSaaaeaacqGHsislcaqG7oaabaGaaeySdiaabo7aaaGaaiOlaaaa aaa@4D99@