RDP 2006-05: Optimal Monetary Policy with Real-time Signal Extraction from the Bond Market
Equation (A20)
L
(
Z
|
Θ
)
=
−
.5
∑
t
=
0
T
[
p
ln
(
2
π
)
+
ln
|
Ω
|
+
u
′
t
Ω
−
1
u
t
]
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