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RDP 9803: Forward-Looking Behaviour and Credibility: Some Evidence and Implications for Policy
Equation (8)
Σ
t
=
0
L
[
λ
(
g
a
p
t
f
)
2
+
(
1
−
λ
)
(
π
t
f
−
π
T
)
2
+
ω
(
i
t
f
−
i
t
−
1
f
)
2
]
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