Skip to content
RDP 9803: Forward-Looking Behaviour and Credibility: Some Evidence and Implications for Policy
Equation (B1.2)
Δ
p
t
=
α
2
−
0.10
(
0.01
)
p
t
−
1
+
0.06
(
0.01
)
u
l
c
t
−
1
+
0
.
0
4
(
0.01
)
i
p
t
−
1
+
0.13
(
0.03
)
Δ
u
l
c
t
+
0.02
(
0.01
)
Δ
i
p
t
−
3
+
0.07
(
0.02
)
g
a
p
t
−
3
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaacciGae8hLdq KaamiCamaaBaaaleaacaWG0baabeaakiabg2da9iabeg7aHnaaBaaa leaacaaIYaaabeaakiabgkHiTmaaxababaGaaGimaiaac6cacaaIXa GaaGimaaWcbaWaaeWaaeaacaaIWaGaaiOlaiaaicdacaaIXaaacaGL OaGaayzkaaaabeaakiaadchadaWgaaWcbaGaamiDaiabgkHiTiaaig daaeqaaOWaaCbeaeaacqGHRaWkcaaIWaGaaiOlaiaaicdacaaI2aaa leaadaqadaqaaiaaicdacaGGUaGaaGimaiaaigdaaiaawIcacaGLPa aaaeqaaOGaamyDaiaadYgacaWGJbWaaSbaaSqaaiaadshacqGHsisl caaIXaaabeaakiabgUcaRmaaxababaGaamimaiaad6cacaWGWaGaam inaaWcbaWaaeWaaeaacaaIWaGaaiOlaiaaicdacaaIXaaacaGLOaGa ayzkaaaabeaakiaadMgacaWGWbWaaSbaaSqaaiaadshacqGHsislca aIXaaabeaakiabgUcaRmaaxababaGaaGimaiaac6cacaaIXaGaaG4m aaWcbaWaaeWaaeaacaaIWaGaaiOlaiaaicdacaaIZaaacaGLOaGaay zkaaaabeaakiab=r5aejaadwhacaWGSbGaam4yamaaBaaaleaacaWG 0baabeaakiabgUcaRmaaxababaGaaGimaiaac6cacaaIWaGaaGOmaa WcbaWaaeWaaeaacaaIWaGaaiOlaiaaicdacaaIXaaacaGLOaGaayzk aaaabeaakiab=r5aejaadMgacaWGWbWaaSbaaSqaaiaadshacqGHsi slcaaIZaaabeaakiabgUcaRmaaxababaGaaGimaiaac6cacaaIWaGa aG4naaWcbaWaaeWaaeaacaaIWaGaaiOlaiaaicdacaaIYaaacaGLOa GaayzkaaaabeaakiaadEgacaWGHbGaamiCamaaBaaaleaacaWG0bGa eyOeI0IaaG4maaqabaaaaa@8F13@