RDP 9509: Australian Wage and Price Inflation: 1971–1994 Equation (8)

\begin{array}{l} Δ w_{t} = λ_{0} + Σ φ_{1, i} Δ w_{t - i} + Σ φ_{2, i} Δ p_{t - i} + φ_{3} I U_{t - 1} + Σ φ_{4, i} Δ I U_{t - i} \\ + Σ φ_{5, i} s t k s_{t - i} + λ_{1} r e r_{t - 1} + λ_{2} p_{t - 1} + λ_{3} u l c_{t - 1} \end{array}