RDP 2011-01: Estimating Inflation Expectations with a Limited Number of Inflation-indexed Bonds Equation

y t , τ i = y t , τ n y t , τ r = log ( E t ( M t + τ n M t n ) ) + log ( E t ( M t + τ r M t r ) ) = log ( M t r M t n E t ( M t + τ n E t ( M t + τ r ) ) ) = log ( E t ( M t + τ i M t i ) ) MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGceaqabeaacaWG5b Waa0baaSqaaiaadshacaGGSaGaeqiXdqhabaGaamyAaaaakiabg2da 9iaadMhadaqhaaWcbaGaamiDaiaacYcacqaHepaDaeaacaWGUbaaaO GaeyOeI0IaamyEamaaDaaaleaacaWG0bGaaiilaiabes8a0bqaaiaa dkhaaaaakeaacqGH9aqpcqGHsislciGGSbGaai4BaiaacEgadaqada qaamrr1ngBPrwtHrhAYaqeguuDJXwAKbstHrhAGq1DVbacfaGae8hH Wx0aaSbaaSqaaiaadshaaeqaaOWaaeWaaeaadaWcaaqaaiaad2eada qhaaWcbaGaamiDaiabgUcaRiabes8a0bqaaiaad6gaaaaakeaacaWG nbWaa0baaSqaaiaadshaaeaacaWGUbaaaaaaaOGaayjkaiaawMcaaa GaayjkaiaawMcaaiabgUcaRiGacYgacaGGVbGaai4zamaabmaabaGa e8hHWx0aaSbaaSqaaiaadshaaeqaaOWaaeWaaeaadaWcaaqaaiaad2 eadaqhaaWcbaGaamiDaiabgUcaRiabes8a0bqaaiaadkhaaaaakeaa caWGnbWaa0baaSqaaiaadshaaeaacaWGYbaaaaaaaOGaayjkaiaawM caaaGaayjkaiaawMcaaaqaaiabg2da9iabgkHiTiGacYgacaGGVbGa ai4zamaabmaabaWaaSaaaeaacaWGnbWaa0baaSqaaiaadshaaeaaca WGYbaaaaGcbaGaamytamaaDaaaleaacaWG0baabaGaamOBaaaaaaGc cqWFecFrdaWgaaWcbaGaamiDaaqabaGcdaqadaqaamaalaaabaGaam ytamaaDaaaleaacaWG0bGaey4kaSIaeqiXdqhabaGaamOBaaaaaOqa aiab=ri8fnaaBaaaleaacaWG0baabeaakmaabmaabaGaamytamaaDa aaleaacaWG0bGaey4kaSIaeqiXdqhabaGaamOCaaaaaOGaayjkaiaa wMcaaaaaaiaawIcacaGLPaaaaiaawIcacaGLPaaaaeaacqGH9aqpcq GHsislciGGSbGaai4BaiaacEgadaqadaqaaiab=ri8fnaaBaaaleaa caWG0baabeaakmaabmaabaWaaSaaaeaacaWGnbWaa0baaSqaaiaads hacqGHRaWkcqaHepaDaeaacaWGPbaaaaGcbaGaamytamaaDaaaleaa caWG0baabaGaamyAaaaaaaaakiaawIcacaGLPaaaaiaawIcacaGLPa aaaaaa@AE6E@