RDP 2003-11: How Should Monetary Policy Respond to Asset-Price Bubbles? Equation (C18)

L s ( k ) = ( P R s ( k ) + G s ( k ) ) T Ω s ( k ) ( P R s ( k ) + G s ( k ) ) = R s ( k ) T P T Ω s ( k ) P R s ( k ) + 2 R s ( k ) T P T Ω s ( k ) G s ( k ) + G s ( k ) T Ω s ( k ) G s ( k ) . MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYfdmGievaebbnrfi fHhDYfgasaacH8srps0lbbf9q8WrFfeuY=Hhbbf9v8qqaqFr0xc9pk 0xbba9q8WqFfea0=yr0RYxir=Jbba9q8aq0=yq=He9q8qqQ8frFve9 Fve9Ff0dmeaabaqaciGacaGaaeqabaWaaeaaeaaakqaabeqaaiaadY eadaqhaaWcbaGaam4CaaqaamaabmaabaGaam4AaaGaayjkaiaawMca aaaakiabg2da9maabmaabaGaamiuaiaadkfadaqhaaWcbaGaam4Caa qaamaabmaabaGaam4AaaGaayjkaiaawMcaaaaakiabgUcaRiaadEea daqhaaWcbaGaam4CaaqaamaabmaabaGaam4AaaGaayjkaiaawMcaaa aaaOGaayjkaiaawMcaamaaCaaaleqabaGaamivaaaakiabfM6axnaa DaaaleaacaWGZbaabaWaaeWaaeaacaWGRbaacaGLOaGaayzkaaaaaO WaaeWaaeaacaWGqbGaamOuamaaDaaaleaacaWGZbaabaWaaeWaaeaa caWGRbaacaGLOaGaayzkaaaaaOGaey4kaSIaam4ramaaDaaaleaaca WGZbaabaWaaeWaaeaacaWGRbaacaGLOaGaayzkaaaaaaGccaGLOaGa ayzkaaaabaGaeyypa0JaamOuamaaDaaaleaacaWGZbaabaWaaeWaae aacaWGRbaacaGLOaGaayzkaaWaaWbaaWqabeaacaWGubaaaaaakiaa dcfadaahaaWcbeqaaiaadsfaaaGccqqHPoWvdaqhaaWcbaGaam4Caa qaamaabmaabaGaam4AaaGaayjkaiaawMcaaaaakiaadcfacaWGsbWa a0baaSqaaiaadohaaeaadaqadaqaaiaadUgaaiaawIcacaGLPaaaaa GccaaIYaGaamOuamaaDaaaleaacaWGZbaabaWaaeWaaeaacaWGRbaa caGLOaGaayzkaaWaaWbaaWqabeaacaWGubaaaaaakiaadcfadaahaa WcbeqaaiaadsfaaaGccqqHPoWvdaqhaaWcbaGaam4Caaqaamaabmaa baGaam4AaaGaayjkaiaawMcaaaaakiaadEeadaqhaaWcbaGaam4Caa qaamaabmaabaGaam4AaaGaayjkaiaawMcaaaaakiabgUcaRiaadEea daqhaaWcbaGaam4CaaqaamaabmaabaGaam4AaaGaayjkaiaawMcaam aaCaaameqabaGaamivaaaaaaGccqqHPoWvdaqhaaWcbaGaam4Caaqa amaabmaabaGaam4AaaGaayjkaiaawMcaaaaakiaadEeadaqhaaWcba Gaam4CaaqaamaabmaabaGaam4AaaGaayjkaiaawMcaaaaakiaac6ca aaaa@8F7A@