RDP 2008-04: A Small Bvar-Dsge Model for Forecasting the Australian Economy
Equation
∂
L
t
∂
B
t
+
1
=
−
λ
t
+
e
t
R
t
λ
t
+
1
=
0
∂
L
t
∂
C
t
=
β
t
1
A
t
1
−
1
τ
C
t
−
1
τ
−
λ
t
P
t
=
0.
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