RDP 2011-02: Long-term Interest Rates, Risk Premia and Unconventional Monetary Policy Equation

Γ 0 y t = C + Γ 1 y t 1 + Ψ ε t + Π η t . MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaaeaaaaaaaaa8 qacqqHtoWrdaWgaaWcbaGaaGimaaqabaGccaqG5bWaaSbaaSqaaiaa dshaaeqaaOGaeyypa0Jaam4qaiabgUcaRiabfo5ahnaaBaaaleaaca aIXaaabeaakiaabMhadaWgaaWcbaGaamiDaiabgkHiTiaaigdaaeqa aOGaey4kaSIaeuiQdKLaeqyTdu2aaSbaaSqaaiaadshaaeqaaOGaey 4kaSIaeuiOdaLaeq4TdG2aaSbaaSqaaiaadshaaeqaaOGaaiOlaaaa @4EA9@