RDP 2006-02: Term Structure Rules for Monetary Policy
Equation (7)
R
1
,
t
=
τ
R
1
,
t
−
1
+
τ
E
t
−
1
R
1
,
t
−
E
t
R
1
,
t
+
1
+
2
α
π
t
+
2
δ
x
t
+
2
μ
b
b
t
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