RDP 2004-10: News and Interest Rate Expectations: A Study of Six Central Banks
Equation (1)
Δ
f
t
=
α
0
+
∑
a
=
1
j
α
a
Δ
f
t
−
a
+
β
0
p
s
t
+
∑
b
=
1
k
β
b
n
e
w
s
b
,
t
+
∑
c
=
0
m
γ
c
Δ
f
t
−
c
O
S
+
∑
w
=
1
n
ϕ
w
c
o
m
w
,
t
+
∑
d
=
1
7
δ
d
O
t
h
e
r
d
,
t
+
ε
t
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=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@96DA@