RDP 9803: Forward-Looking Behaviour and Credibility: Some Evidence and Implications for Policy Equation (5c)

rtw i t =to t t−1 +0.35( r t ∼ − r t * )+0.30( r ∼ t−1 − r t−1 * )+0.25( r ∼ t−2 − r t−2 * )+0.10( r ∼ t−3 − r t−3 * ) MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbiqaaWBacaWGYb GaamiDaiaadEhacaWGPbWaaSbaaSqaaiaadshaaeqaaOGaeyypa0Ja amiDaiaad+gacaWG0bWaaSbaaSqaaiaadshacqGHsislcaaIXaaabe aakiabgUcaRiaaicdacaGGUaGaaG4maiaaiwdadaqadaqaamaaxaca baGaamOCamaaBaaaleaacaWG0baabeaaaeqabaGaeSipIOdaaOGaey OeI0IaamOCamaaDaaaleaacaWG0baabaGaaiOkaaaaaOGaayjkaiaa wMcaaiabgUcaRiaaicdacaGGUaGaaG4maiaaicdadaqadaqaamaaxa cabaGaamOCaaWcbeqaaiablYJi6aaakmaaBaaaleaacaWG0bGaeyOe I0IaaGymaaqabaGccqGHsislcaWGYbWaa0baaSqaaiaadshacqGHsi slcaaIXaaabaGaaiOkaaaaaOGaayjkaiaawMcaaiabgUcaRiaaicda caGGUaGaaGOmaiaaiwdadaqadaqaamaaxacabaGaamOCaaWcbeqaai ablYJi6aaakmaaBaaaleaacaWG0bGaeyOeI0IaaGOmaaqabaGccqGH sislcaWGYbWaa0baaSqaaiaadshacqGHsislcaaIYaaabaGaaiOkaa aaaOGaayjkaiaawMcaaiabgUcaRiaaicdacaGGUaGaaGymaiaaicda daqadaqaamaaxacabaGaamOCaaWcbeqaaiablYJi6aaakmaaBaaale aacaWG0bGaeyOeI0IaaG4maaqabaGccqGHsislcaWGYbWaa0baaSqa aiaadshacqGHsislcaaIZaaabaGaaiOkaaaaaOGaayjkaiaawMcaaa aa@7F32@