the following model, a modified version of the model with long-term bonds (in the image)

Soit le modle suivant, une version modifie du modle avec obligations de long terme. yt ct + gt ydr,t = Yt + r + + tt Vt VtI + (ydr,t ct) + cgt BLh,t-l hh,t 'Vt (p PbL,t) bd,t + Abs,t (gt + -+- = 01 ydr,t -F VtI 'Vt 't'tl + ydr,t ct + cgt bh,t - PbL,t BLh,t - bd,t - PbL,t BLd,t ydr,t r + Tb,t + RbL,t + bdt BLd,t BLS t BLh,t 13Ld,t rh,t 1) bcb,t PbL,t = Abcb,t b cbt _ b h t BLS t BLS bL,t , = RbL,t+X PbL,t 1 PbL,t PbL,t PbL,t + epbl,t e X (PbL,t-l - PbL,t-I) cgt ydr,t 2 'Vte + r + r -F RiL t BLd,t (10) (11) (12) (13) (14) (15) (16) (17) (18) (19) (20) (21) (22) (23) (24) (25) (26) (27) (28) (29) (30) (31) (32)