RDP 9803: Forward-Looking Behaviour and Credibility: Some Evidence and Implications for Policy
Equation (8)
Σ
t
=
0
L
[
λ
(
g
a
p
t
f
)
2
+
(
1
−
λ
)
(
π
t
f
−
π
T
)
2
+
ω
(
i
t
f
−
i
t
−
1
f
)
2
]
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaWaaCbmaeaaca GIJoaaleaacaWG0bGaeyypa0JaaGimaaqaaiaadYeaaaGcdaWadaqa aiabeU7aSnaabmaabaGaam4zaiaadggacaWGWbWaa0baaSqaaiaads haaeaacaWGMbaaaaGccaGLOaGaayzkaaWaaWbaaSqabeaacaaIYaaa aOGaey4kaSYaaeWaaeaacaaIXaGaeyOeI0Iaeq4UdWgacaGLOaGaay zkaaWaaeWaaeaacqaHapaCdaqhaaWcbaGaamiDaaqaaiaadAgaaaGc cqGHsislcqaHapaCdaahaaWcbeqaaiaadsfaaaaakiaawIcacaGLPa aadaahaaWcbeqaaiaaikdaaaGccqGHRaWkcqaHjpWDdaqadaqaaiaa dMgadaqhaaWcbaGaamiDaaqaaiaadAgaaaGccqGHsislcaWGPbWaa0 baaSqaaiaadshacqGHsislcaaIXaaabaGaamOzaaaaaOGaayjkaiaa wMcaamaaCaaaleqabaGaaGOmaaaaaOGaay5waiaaw2faaaaa@63BF@