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RDP 2003-11: How Should Monetary Policy Respond to Asset-Price Bubbles?
Equation (D10)
W
s
(
k
)
(
1
)
=
{
β
−
1
p
s
(
1
)
,
k
=
1
0
,
otherwise
.
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYfdmGievaebbnrfi fHhDYfgasaacH8srps0lbbf9q8WrFfeuY=Hhbbf9v8qqaqFr0xc9pk 0xbba9q8WqFfea0=yr0RYxir=Jbba9q8aq0=yq=He9q8qqQ8frFve9 Fve9Ff0dmeaabaqaciGacaGaaeqabaWaaeaaeaaakeaacaWGxbWaa0 baaSqaaiaadohaaeaadaqadaqaaiaadUgaaiaawIcacaGLPaaaaaGc daqadaqaaiaaigdaaiaawIcacaGLPaaacqGH9aqpdaGabaqaauaaba qacmaaaeaacqaHYoGydaahaaWcbeqaaiabgkHiTiaaigdaaaGccaWG WbWaa0baaSqaaiaadohaaeaadaqadaqaaiaaigdaaiaawIcacaGLPa aaaaaakeaacaGGSaaabaGaam4Aaiabg2da9iaaigdaaeaacaaIWaaa baGaaiilaaqaaiaab+gacaqG0bGaaeiAaiaabwgacaqGYbGaae4Dai aabMgacaqGZbGaaeyzaiaab6caaaaacaGL7baaaaa@5496@