RDP 2008-03: Monetary Transmission and the Yield Curve in a Small Open Economy Equation (21)

x t = − σ α − 1 m ( R m , t − 1 m E t ∑ j = 1 m π h , t + j ) MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaamiEamaaBa aaleaacaWG0baabeaakiabg2da9iabgkHiTiabeo8aZnaaDaaaleaa cqaHXoqyaeaacqGHsislcaaIXaaaaOGaamyBamaabmaabaGaamOuam aaBaaaleaacaWGTbGaaiilaiaadshaaeqaaOGaeyOeI0YaaSaaaeaa caaIXaaabaGaamyBaaaacaWGfbWaaSbaaSqaaiaadshaaeqaaOWaaa bCaeaacqaHapaCdaWgaaWcbaGaamiAaiaacYcacaWG0bGaey4kaSIa amOAaaqabaaabaGaamOAaiabg2da9iaaigdaaeaacaWGTbaaniabgg HiLdaakiaawIcacaGLPaaaaaa@564F@