RDP 9608: Modelling the Australian Exchange Rate, Long Bond Yield and Inflationary Expectations
Equation (5)
E
M
R
t
(
π
t
+
n
)
=
g
{
π
t
−
1
,
G
A
P
t
+
i
}
;
i
=
0
,
1
,
2
,
…
,
n
−
1.
where
:
G
A
P
t
+
i
=
G
A
P
t
−
1
(
1
−
(
i
+
1
)
n
)
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