RDP 2017-06: Uncertainty and Monetary Policy in Good and Bad Times Equation

logL=const 1 2 t=1 T log| Ω t | 1 2 t=1 T ε t Ω t 1 ε t MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaaeiBaiaab+gacaqGNbGaaGPaVlaadYeacqGH9aqpcaWGJbGaam4Baiaad6gacaWGZbGaamiDaiabgkHiTmaalaaabaGaaGymaaqaaiaaikdaaaWaaabmaeaacaqGSbGaae4BaiaabEgacaGG8bGaaCyQdmaaBaaaleaacaWG0baabeaakiaacYhacqGHsisldaWcaaqaaiaaigdaaeaacaaIYaaaamaaqadabaGaeqyTdu2aa0baaSqaaiaadshaaeaarmWu51MyVXgiuL2zLjhaiuaacqWFYaIOaaGccaWHPoWaa0baaSqaaiaadshaaeaacqGHsislcaaIXaaaaOGaeqyTdu2aaSbaaSqaaiaadshaaeqaaaqaaiaadshacqGH9aqpcaaIXaaabaGaamivaaqdcqGHris5aaWcbaGaamiDaiabg2da9iaaigdaaeaacaWGubaaniabggHiLdaaaa@67F2@