RDP 2003-05: What do Financial Market Data Tell us About Monetary Policy Transparency?
Equation (3)
Δ
i
m
t
=
γ
0
m
+
γ
1
m
Δ
p
t
+
γ
2
m
M
Δ
p
t
+
γ
3
m
Δ
i
m
t
−
1
U
S
+
ε
m
t
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