RDP 2000-07: The Effect of Uncertainty on Monetary Policy: How Good are the Brakes?
Equation (A3)
Δ
u
l
c
t
=
0.848
(
0.475
)
Δ
p
t
−
1
+
0.152
(
0.475
)
Δ
p
t
−
2
+
0.303
(
0.078
)
(
y
t
−
1
−
y
t
−
1
*
)
+
0.135
(
0.197
)
Δ
(
y
−
y
*
)
t
−
4
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