RBA Annual Conference – 2016 Equation (5)

Δln V_{j} = \frac{{\bar{ν}}_{j}^{K}}{{\bar{ν}}_{j}^{V}} Δln K_{j} + \frac{{\bar{ν}}_{j}^{L}}{{\bar{ν}}_{j}^{V}} Δln L_{j} + \frac{1}{{\bar{ν}}_{j}^{V}} ν_{j}^{T}