RDP 9812: An Optimising Model for Monetary Policy Analysis: Can Habit Formation Help?
Equation (12)
f
t
=
(
1
−
∑
i
=
1
2
α
f
,
i
)
(
ρ
¯
+
π
¯
)
+
∑
i
=
1
2
α
f
,
i
f
t
−
i
+
∑
j
=
0
2
α
π
,
j
(
π
t
−
j
−
π
¯
)
+
∑
k
=
0
2
α
y
,
k
y
t
−
k
+
ε
f
t
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