Skip to content
RDP 2017-06: Uncertainty and Monetary Policy in Good and Bad Times
Equation
R
t
*
=
R
*
+
β
(
E
t
[
π
t
,
k
]
−
π
*
)
+
γ
E
t
[
x
t
,
q
]
+
μ
s
t
R
t
=
(
1
−
A
(
L
)
)
R
*
+
A
(
L
)
R
t
−
1
+
ν
t
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=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@7111@