Skip to content
RDP 2017-06: Uncertainty and Monetary Policy in Good and Bad Times
Equation
W
t
=
[
F
(
z
t
−
1
)
X
t
−
1
(
1
−
F
(
z
t
−
1
)
)
X
t
−
1
…
F
(
z
t
−
1
)
X
t
−
p
(
1
−
F
(
z
t
−
1
)
)
X
t
−
p
]
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=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@6A7B@