RDP 2006-05: Optimal Monetary Policy with Real-time Signal Extraction from the Bond Market
Equation (39)
X
1
,
t
|
t
=
[
(
H
+
J
)
+
K
L
1
J
−
K
L
1
(
H
+
J
)
]
X
1
,
t
−
1
|
t
−
1
+
K
L
1
H
X
1
,
t
−
1
+
K
v
t
+
K
L
1
ε
t
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