RDP 2005-04: Monetary Policy, Asset-Price Bubbles and the Zero Lower Bound
Equation (B1)
Z
t
=
M
Z
t
−
1
−
β
X
t
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaamOwamaaBaaaleaacaWG0baabeaakiabg2da9iaad2eacaWGAbWaaSbaaSqaaiaadshacqGHsislcaaIXaaabeaakiabgkHiTiabek7aIjaadIfadaWgaaWcbaGaamiDaaqabaaaaa@4220@