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RDP 2003-11: How Should Monetary Policy Respond to Asset-Price Bubbles?
Equation (11)
L
=
E
t
p
[
max
(
a
τ
)
]
κ
+
∑
τ
=
t
+
1
∞
[
E
t
p
(
y
τ
2
)
+
E
t
p
(
π
τ
2
)
]
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