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Q1) Consider the new Keynesian Phillips curve with indexation, 1 B 1 -EntitIt -[1 - B(1 -@)]by 1 + 8 1 + B 1+81-a (7.7

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Q1) Consider the new Keynesian Phillips curve with indexation, 1 B 1 -EntitIt -[1 - B(1 -@)]by 1 + 8 1 + B 1+81-a (7.7 1 P EditItXy. 1 + B 1 + B under the assumptions of perfect foresight and B = 1, together with our usual aggregate demand equation, yx = mt - Pt- (a) Express pt+1 in terms of its lagged values and mt. (b) Consider an anticipated, permanent, one-time increase in m: mt = 0 fort

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