RBA Annual Conference – 2015 Equation (4)

y i t = β A i t + α k k i t + α l l i t + θ i + u i t . MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaamyEamaaBa aaleaacaWGPbGaamiDaaqabaGccqGH9aqpcqaHYoGycaWGbbWaaSba aSqaaiaadMgacaWG0baabeaakiabgUcaRiabeg7aHnaaBaaaleaaca WGRbaabeaakiaadUgadaWgaaWcbaGaamyAaiaadshaaeqaaOGaey4k aSIaeqySde2aaSbaaSqaaiaadYgaaeqaaOGaamiBamaaBaaaleaaca WGPbGaamiDaaqabaGccqGHRaWkcqaH4oqCdaWgaaWcbaGaamyAaaqa baGccqGHRaWkcaWG1bWaaSbaaSqaaiaadMgacaWG0baabeaakiaac6 caaaa@546C@