RDP 9812: An Optimising Model for Monetary Policy Analysis: Can Habit Formation Help?
Equation (B3)
a
1
=
σ
C
0
(
1
−
γ
)
(
1
−
σ
)
a
2
=
γ
(
1
−
σ
)
(
1
−
ρ
)
a
3
=
(
1
−
σ
)
γ
C
0
(
1
−
γ
)
(
1
−
σ
)
δ
=
β
[
−
γ
(
1
−
σ
)
(
1
−
ρ
z
)
P
¯
+
C
0
(
1
−
γ
)
(
1
−
σ
)
−
1
]
k
0
=
C
0
−
γ
(
1
−
σ
)
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