RDP 2000-05: A Small Model of the Australian Macroeconomy
Equation (6)
Δ
p
t
=
λ
1
+
λ
2
p
t
−
1
+
λ
3
u
t
−
1
+
λ
4
p
m
′
t
−
1
+
λ
5
Δ
u
t
+
λ
6
Δ
p
m
′
t
+
λ
7
Δ
o
i
l
t
−
1
+
λ
8
(
y
t
−
3
−
y
t
−
3
p
)
+
λ
9
∑
i
=
0
2
Δ
(
y
t
−
i
−
y
t
−
i
p
)
+
λ
10
D
t
3
+
λ
11
D
t
4
+
ξ
t
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