RDP 2000-07: The Effect of Uncertainty on Monetary Policy: How Good are the Brakes?
Equation (A5)
Δ
r
e
r
t
=
α
4
−
0.331
(
0.108
)
(
r
e
r
t
−
1
−
t
o
t
t
−
1
)
+
0.377
(
0.195
)
r
t
−
1
+
0.749
(
0.121
)
Δ
c
p
s
d
r
t
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