RDP 2003-11: How Should Monetary Policy Respond to Asset-Price Bubbles?
Equation (C24)
R
s
a
c
=
−
(
P
T
Ω
s
P
)
−
1
P
T
Ω
s
J
s
+
β
−
1
(
P
T
Ω
s
P
)
−
1
P
T
χ
s
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaamOuamaaDa aaleaacaWGZbaabaGaamyyaiaadogaaaGccqGH9aqpcqGHsisldaqa daqaaiaadcfadaahaaWcbeqaaiaadsfaaaGccqqHPoWvdaWgaaWcba Gaam4CaaqabaGccaWGqbaacaGLOaGaayzkaaWaaWbaaSqabeaacqGH sislcaaIXaaaaOGaamiuamaaCaaaleqabaGaamivaaaakiabfM6axn aaBaaaleaacaWGZbaabeaakiaadQeadaWgaaWcbaGaam4CaaqabaGc cqGHRaWkcqaHYoGydaahaaWcbeqaaiabgkHiTiaaigdaaaGcdaqada qaaiaadcfadaahaaWcbeqaaiaadsfaaaGccqqHPoWvdaWgaaWcbaGa am4CaaqabaGccaWGqbaacaGLOaGaayzkaaWaaWbaaSqabeaacqGHsi slcaaIXaaaaOGaamiuamaaCaaaleqabaGaamivaaaakiabeE8aJnaa BaaaleaacaWGZbaabeaaaaa@5D39@