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RDP 9702: The Lags of Monetary Policy
Equation (B1)
Δ
y
t
=
∑
j
=
0
6
β
j
r
t
−
j
+
δ
Z
t
−
1
+
W
t
ϕ
+
ε
t
,
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaeuiLdqKaam yEamaaBaaaleaacaWG0baabeaakiabg2da9maaqahabaGaeqOSdi2a aSbaaSqaaiaadQgaaeqaaOGaamOCamaaBaaaleaacaWG0bGaeyOeI0 IaamOAaaqabaGccqGHRaWkaSqaaiaadQgacqGH9aqpcaaIWaaabaGa aGOnaaqdcqGHris5aOGaeqiTdqMaamOwamaaBaaaleaacaWG0bGaey OeI0IaaGymaaqabaGccqGHRaWkcaWGxbWaaSbaaSqaaiaadshaaeqa aOGaeqy1dyMaey4kaSIaeqyTdu2aaSbaaSqaaiaadshaaeqaaOGaai ilaaaa@566C@