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RDP 2006-02: Term Structure Rules for Monetary Policy
Equation (1)
x
t
=
−
(
R
1
,
t
−
E
t
π
t
+
1
)
+
E
t
x
t
+
1
+
μ
g
(
1
−
ϕ
)
g
t
−
(
1
−
ρ
)
a
t
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=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@5FD7@