RDP 2002-01: Inflation Targeting and the Inflation Process: Some Lessons from an Open Economy
Equation (A10)
Δ
p
t
f
=
0.625
+
0.344
(
0.107
)
(
Δ
p
t
−
1
f
−
0.625
)
+
0.332
(
0.106
)
(
Δ
p
t
−
2
f
−
0.625
)
+
0.327
(
0.113
)
(
Δ
p
t
−
3
f
−
0.625
)
−
0.103
(
0.110
)
(
Δ
p
t
−
4
f
−
0.625
)
+
0.327
(
0.113
)
Δ
y
t
−
4
f
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