# RDP 2002-01: Inflation Targeting and the Inflation Process: Some Lessons from an Open Economy Equation (A11)

$${r}_{t}^{f}=2+0.3{y}_{t-2}^{f}+0.1\left(\Delta {p}_{t-2}^{f}-0.625\right)$$

$${r}_{t}^{f}=2+0.3{y}_{t-2}^{f}+0.1\left(\Delta {p}_{t-2}^{f}-0.625\right)$$