RDP 2017-02: Anticipatory Monetary Policy and the ‘Price Puzzle’
Equation (5)
F
t
=
E
t
(
π
t
+
1
)
=
ω
1
X
t
−
1
+
ω
2
Z
t
=
ω
1
θ
r
t
−
1
+
ω
2
Z
t
+
φ
t
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=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@60E8@