RDP 2016-02: Disagreement about Inflation Expectations
Equation
C
a
s
e
3
)
f
o
r
j
∈
{
−
15
,
−
10
,
−
5
,
15
,
20
,
25
,
30
,
35
}
:
ρ
[
Φ
(
U
B
j
−
μ
r
σ
r
)
−
Φ
(
L
B
j
−
μ
r
σ
r
)
]
+
(
1
−
ρ
)
[
U
B
j
−
L
B
j
150
]
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