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RDP 9812: An Optimising Model for Monetary Policy Analysis: Can Habit Formation Help?
Equation (B6)
E
t
C
t
+
1
−
C
t
=
b
1
a
1
(
P
t
−
E
t
P
t
+
1
)
+
c
1
a
1
(
Z
t
−
E
t
Z
t
+
1
)
+
δ
a
1
(
1
+
E
t
r
t
+
1
)
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