Skip to content
RDP 9812: An Optimising Model for Monetary Policy Analysis: Can Habit Formation Help?
Equation (A4)
∂
U
∂
C
t
=
∂
U
t
∂
C
t
+
∂
U
t
∂
Z
t
∂
Z
t
∂
C
t
+
β
∂
U
t
+
1
∂
Z
t
+
1
∂
Z
t
+
1
∂
C
t
+
β
2
∂
U
t
+
2
∂
Z
t
+
2
∂
Z
t
+
2
∂
C
t
+
…
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaWaaSaaaeaacq GHciITcaWGvbaabaGaeyOaIyRaam4qamaaBaaaleaacaWG0baabeaa aaGccqGH9aqpdaWcaaqaaiabgkGi2kaadwfadaWgaaWcbaGaamiDaa qabaaakeaacqGHciITcaWGdbWaaSbaaSqaaiaadshaaeqaaaaakiab gUcaRmaalaaabaGaeyOaIyRaamyvamaaBaaaleaacaWG0baabeaaaO qaaiabgkGi2kaadQfadaWgaaWcbaGaamiDaaqabaaaaOWaaSaaaeaa cqGHciITcaWGAbWaaSbaaSqaaiaadshaaeqaaaGcbaGaeyOaIyRaam 4qamaaBaaaleaacaWG0baabeaaaaGccqGHRaWkcqaHYoGydaWcaaqa aiabgkGi2kaadwfadaWgaaWcbaGaamiDaiabgUcaRiaaigdaaeqaaa GcbaGaeyOaIyRaamOwamaaBaaaleaacaWG0bGaey4kaSIaaGymaaqa baaaaOWaaSaaaeaacqGHciITcaWGAbWaaSbaaSqaaiaadshacqGHRa WkcaaIXaaabeaaaOqaaiabgkGi2kaadoeadaWgaaWcbaGaamiDaaqa baaaaOGaey4kaSIaeqOSdi2aaWbaaSqabeaacaaIYaaaaOWaaSaaae aacqGHciITcaWGvbWaaSbaaSqaaiaadshacqGHRaWkcaaIYaaabeaa aOqaaiabgkGi2kaadQfadaWgaaWcbaGaamiDaiabgUcaRiaaikdaae qaaaaakmaalaaabaGaeyOaIyRaamOwamaaBaaaleaacaWG0bGaey4k aSIaaGOmaaqabaaakeaacqGHciITcaWGdbWaaSbaaSqaaiaadshaae qaaaaakiabgUcaRiablAcilbaa@7F91@