RDP 2008-05: Understanding the Flattening Phillips Curve
Equation (6)
π
t
=
γ
f
E
t
π
t
+
1
+
γ
b
π
t
−
1
+
λ
(
(
1
−
α
)
m
c
t
d
+
α
m
c
t
m
)
,
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