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RDP 2017-06: Uncertainty and Monetary Policy in Good and Bad Times
Equation (4)
F
(
z
t
)
=
exp
(
−
γ
z
t
)
1
+
exp
(
−
γ
z
t
)
,
γ
>
0
,
z
t
∼
N
(
0
,
1
)
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