RDP 2006-02: Term Structure Rules for Monetary Policy
Equation (14)
R
1
,
t
=
(
1
+
λ
β
)
R
1
,
t
−
1
+
1
β
Δ
R
1
,
t
−
1
+
λ
ω
R
π
t
+
ω
x
ω
R
Δ
x
t
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