3. Consider the delegation problem under discretionary policy. Suppose social loss minimization 2 implies 7r : 11"\" + y\" yex) + $20143 71"\"), while loss minimization for a \"hawkish\" - . . 2 central banker w1th or." > a 1mp11es 7r 2 W\" + y\" yex) + e 1T\"). Let 7T", ''EQ, and Wmf be equilibrium ination under rule-based policy with commitment, discretionary policy without delegation, and discretionary policy with delegation, respectively. (a) Show, mathematically, that 71'\"