RDP 8708: Risk Effects Versus Monetary Effects in the Determination of Short-Term Interest Rates
Equation
σ
^
t
2
(
p
t+k
)
=
1
T
Σ
η
^
t+k
2
σ
^
t
2
(
x
t+k
)
=
1
T
Σ
u
^
t+k
2
σ
^
t
2
(
p
t+k
,
x
t+k
)
=
1
T
Σ
η
^
t+k
u
^
t+k
.
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