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RDP 2004-10: News and Interest Rate Expectations: A Study of Six Central Banks
Equation (2)
|
Δ
f
t
|
=
α
0
+
∑
a
=
1
j
α
a
|
Δ
f
t
−
a
|
+
β
0
|
p
s
t
|
+
∑
b
=
1
k
β
b
|
n
e
w
s
b
,
t
|
+
∑
c
=
0
m
γ
c
|
Δ
f
t
−
c
O
S
|
+
∑
w
=
1
n
ϕ
w
c
o
m
w
,
t
+
∑
d
=
1
7
δ
d
O
t
h
e
r
d
,
t
+
ε
t
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=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@A67A@