RDP 1999-01: The Phillips Curve in Australia
Equation (D2)
y
t
=
Δ
4
ln
P
t
−
Δ
4
ln
P
t
−
1
=
δ
(
Δ
P
t
∗
−
Δ
4
ln
P
t
−
1
)
+
γ
(
U
t
−
U
t
∗
)
U
t
+
ε
t
,
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=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@6A27@