RDP 9702: The Lags of Monetary Policy
Equation (A3)
m
0
=
0
m
j
=
(
1
+
δ
)
m
j
−
1
+
∑
i
=
0
k
β
i
where
k
=
min
(
j
−
1
,
6
)
m
∞
=
−
∑
i
=
0
6
β
i
/
δ
.
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