RDP 9803: Forward-Looking Behaviour and Credibility: Some Evidence and Implications for Policy
Equation (B1.6)
Δ
f
y
t
=
α
6
−
0.32
(
0.09
)
(
f
y
t
−
1
−
f
y
t
−
1
t
r
e
n
d
)
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbiqaaWBaiiGacq WFuoarcaWGMbGaamyEamaaBaaaleaacaWG0baabeaakiabg2da9maa xababaGaeqySde2aaSbaaSqaaiaaiAdaaeqaaOGaeyOeI0IaaGimai aac6cacaaIZaGaaGOmaaWcbaWaaeWaaeaacaaIWaGaaiOlaiaaicda caaI5aaacaGLOaGaayzkaaaabeaakmaabmaabaGaamOzaiaadMhada WgaaWcbaGaamiDaiabgkHiTiaaigdaaeqaaOGaeyOeI0IaamOzaiaa dMhadaqhaaWcbaGaamiDaiabgkHiTiaaigdaaeaacaWG0bGaamOCai aadwgacaWGUbGaamizaaaaaOGaayjkaiaawMcaaaaa@5809@