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RDP 9702: The Lags of Monetary Policy
Equation (2)
average
lag
length
(
in
quarters
)
=
∑
i
=
1
∞
(
i
−
1
)
.
Δ
m
i
/
∑
i
=
1
∞
Δ
m
i
,
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaaeyyaiaabA hacaqGLbGaaeOCaiaabggacaqGNbGaaeyzaiaaykW7caqGSbGaaeyy aiaabEgacaaMc8UaaeiBaiaabwgacaqGUbGaae4zaiaabshacaqGOb GaaGPaVpaabmaabaGaaeyAaiaab6gacaaMc8UaaeyCaiaabwhacaqG HbGaaeOCaiaabshacaqGLbGaaeOCaiaabohaaiaawIcacaGLPaaacq GH9aqpdaWcgaqaamaaqahabaWaaeWaaeaacaWGPbGaeyOeI0IaaGym aaGaayjkaiaawMcaaiaac6cacqqHuoarcaWGTbWaaSbaaSqaaiaadM gaaeqaaaqaaiaadMgacqGH9aqpcaaIXaaabaGaeyOhIukaniabggHi LdaakeaadaaeWbqaaiabfs5aejaad2gadaWgaaWcbaGaamyAaaqaba aabaGaamyAaiabg2da9iaaigdaaeaacqGHEisPa0GaeyyeIuoakiaa cYcaaaaaaa@701B@