Skip to content
RDP 2003-11: How Should Monetary Policy Respond to Asset-Price Bubbles?
Equation (4)
y
t
=
−
β
r
t
−
1
+
λ
y
t
−
1
+
Δ
a
t
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaamyEamaaBa aaleaacaWG0baabeaakiabg2da9iabgkHiTiabek7aIjaadkhadaWg aaWcbaGaamiDaiabgkHiTiaaigdaaeqaaOGaey4kaSIaeq4UdWMaam yEamaaBaaaleaacaWG0bGaeyOeI0IaaGymaaqabaGccqGHRaWkcqqH uoarcaWGHbWaaSbaaSqaaiaadshaaeqaaaaa@4A43@