RDP 9701: Inflation Regimes and Inflation Expectations
Equation (12)
f
t
+
1
,
π
t
+
2
(
x
)
=
∫
−
∞
∞
f
η
(
x
−
ε
)
f
ε
(
ε
)
f
ε
(
π
t
+
1
−
x
+
ε
)
d
ε
∫
−
∞
∞
∫
−
∞
∞
f
η
(
y
−
ε
)
f
ε
(
ε
)
f
ε
(
π
t
+
1
−
y
+
ε
)
d
ε
d
y
,
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