RDP 9105: Inflation in Australia: Causes, Inertia and Policy
Equation (14)
Δ
π
t
=
β
(
λ
1
Δ
m
•
t
+
λ
2
Δ
q
•
t
+
λ
3
Δ
w
•
t
−
λ
4
Δ
z
•
)
+
γ
(
λ
0
+
λ
1
m
•
t
−
1
+
λ
2
q
•
t
−
1
+
λ
3
w
•
t
−
1
−
λ
4
z
•
t
−
1
−
π
t
−
1
)
+
u
t
.
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