RDP 2006-05: Optimal Monetary Policy with Real-time Signal Extraction from the Bond Market
Equation (A2)
y
t
=
μ
y
f
E
t
y
t
+
1
+
μ
y
b
y
t
−
j
−
ϕ
[
i
t
−
E
t
π
t
+
1
]
+
ε
t
y
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