RDP 2011-01: Estimating Inflation Expectations with a Limited Number of Inflation-indexed Bonds
Equation
∫
0
τ
−
1
2
(
ρ
′
(
I
−
e
−
K
s
)
K
−
1
Σ
)
2
d
s
=
−
1
2
ρ
′
K
−
1
(
∫
0
τ
(
I
−
e
−
K
s
)
Σ
Σ
′
(
I
−
e
−
K
′
s
)
d
s
)
K
−
1
′
ρ
=
−
1
2
ρ
′
K
−
1
(
τ
Σ
Σ
′
−
Σ
Σ
′
M
1
,
τ
−
M
′
1
,
τ
Σ
Σ
′
+
M
2
,
τ
)
K
−
1
′
ρ
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGceaqabeaadaWdXa qaaiabgkHiTmaalaaabaGaaGymaaqaaiaaikdaaaWaaeWaaeaaiiWa cuWFbpGCgaqbamaabmaabaGaamysaiabgkHiTiaadwgadaahaaWcbe qaaiabgkHiTiaadUeacaWGZbaaaaGccaGLOaGaayzkaaGaam4samaa CaaaleqabaGaeyOeI0IaaGymaaaakiabfo6atbGaayjkaiaawMcaam aaCaaaleqabaGaaGOmaaaakiaabsgacaWGZbaaleaacaaIWaaabaGa eqiXdqhaniabgUIiYdaakeaacqGH9aqpcqGHsisldaWcaaqaaiaaig daaeaacaaIYaaaaiqb=f8aYzaafaGaam4samaaCaaaleqabaGaeyOe I0IaaGymaaaakmaabmaabaWaa8qmaeaadaqadaqaaiaadMeacqGHsi slcaWGLbWaaWbaaSqabeaacqGHsislcaWGlbGaam4CaaaaaOGaayjk aiaawMcaaiabfo6atjabfo6atHGaaiab+jdiIoaabmaabaGaamysai abgkHiTiaadwgadaahaaWcbeqaaiabgkHiTiqadUeagaqbaiaadoha aaaakiaawIcacaGLPaaacaqGKbGaam4CaaWcbaGaaGimaaqaaiabes 8a0bqdcqGHRiI8aaGccaGLOaGaayzkaaGaam4samaaCaaaleqabaGa eyOeI0IabGymayaafaaaaOGae8xWdihabaGaeyypa0JaeyOeI0YaaS aaaeaacaaIXaaabaGaaGOmaaaacuWFbpGCgaqbaiaadUeadaahaaWc beqaaiabgkHiTiaaigdaaaGcdaqadaqaaiabes8a0jabfo6atjabfo 6atjab+jdiIkabgkHiTiabfo6atjabfo6atjab+jdiIkaad2eadaWg aaWcbaGaaGymaiaacYcacqaHepaDaeqaaOGaeyOeI0Iabmytayaafa WaaSbaaSqaaiaaigdacaGGSaGaeqiXdqhabeaakiabfo6atjabfo6a tjab+jdiIkabgUcaRiaad2eadaWgaaWcbaGaaGOmaiaacYcacqaHep aDaeqaaaGccaGLOaGaayzkaaGaam4samaaCaaaleqabaGaeyOeI0Ia bGymayaafaaaaOGae8xWdihaaaa@A28F@