RDP 9803: Forward-Looking Behaviour and Credibility: Some Evidence and Implications for Policy
Equation (B3.3)
r
t
w
i
t
=
Σ
i
=
0
8
(
r
∼
t
+
i
e
−
r
t
+
i
*
e
)
+
Σ
i
=
0
8
(
t
o
t
t
+
i
e
−
t
o
t
e
q
m
)
+
t
o
t
e
q
m
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