RDP 2002-01: Inflation Targeting and the Inflation Process: Some Lessons from an Open Economy
Equation (A3)
Δ
4
u
l
c
t
=
0.513
(
0.088
)
Δ
4
p
t
−
1
+
0.487
(
0.088
)
Δ
4
u
l
c
t
−
1
+
0.187
(
0.065
)
y
t
−
1
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