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RDP 9702: The Lags of Monetary Policy
Equation (B8)
P
L
7
=
0
P
C
6
=
C
6
P
L
i
=
P
L
i
+
1
+
P
C
i
P
C
i
=
C
i
+
δ
P
L
i
+
1
.
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGceaqabeaacaWGqb GaamitamaaBaaaleaacaaI3aaabeaakiabg2da9iaaicdaaeaacaWG qbGaam4qamaaBaaaleaacaaI2aaabeaakiabg2da9iaadoeadaWgaa WcbaGaaGOnaaqabaaakeaacaWGqbGaamitamaaBaaaleaacaWGPbaa beaakiabg2da9iaadcfacaWGmbWaaSbaaSqaaiaadMgacqGHRaWkca aIXaaabeaakiabgUcaRiaadcfacaWGdbWaaSbaaSqaaiaadMgaaeqa aaGcbaGaamiuaiaadoeadaWgaaWcbaGaamyAaaqabaGccqGH9aqpca WGdbWaaSbaaSqaaiaadMgaaeqaaOGaey4kaSIaeqiTdqMaamiuaiaa dYeadaWgaaWcbaGaamyAaiabgUcaRiaaigdaaeqaaOGaaiOlaaaaaa@58E0@