RDP 2011-02: Long-term Interest Rates, Risk Premia and Unconventional Monetary Policy Equation (6)

R ^ L , t = ρ R R ^ L , t − 1 + ρ π π t + ρ y y t + ρ μ μ t + ε R , t . MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGabmOuayaaja WaaSbaaSqaaiaadYeacaGGSaGaamiDaaqabaGccqGH9aqpcqaHbpGC daWgaaWcbaGaamOuaaqabaGcceWGsbGbaKaadaWgaaWcbaGaamitai aacYcacaWG0bGaeyOeI0IaaGymaaqabaGccqGHRaWkcqaHbpGCdaWg aaWcbaGaeqiWdahabeaakiabec8aWnaaBaaaleaacaWG0baabeaaki abgUcaRiabeg8aYnaaBaaaleaacaWG5baabeaakiaadMhadaWgaaWc baGaamiDaaqabaGccqGHRaWkcqaHbpGCdaWgaaWcbaGaeqiVd0gabe aakiabeY7aTnaaBaaaleaacaWG0baabeaakiabgUcaRiabew7aLnaa BaaaleaacaWGsbGaaiilaiaadshaaeqaaOGaaiOlaaaa@5D87@