RDP 2002-01: Inflation Targeting and the Inflation Process: Some Lessons from an Open Economy
Equation (7)
π
t
=
δ
0
+
δ
1
π
t
−
1
+
δ
2
π
t
−
2
+
δ
3
π
t
−
1
m
+
δ
4
y
t
−
i
+
δ
5
Δ
y
t
−
i
+
u
t
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