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RDP 2002-01: Inflation Targeting and the Inflation Process: Some Lessons from an Open Economy
Equation (A5)
Δ
r
e
r
t
=
−
0.331
(
0.108
)
(
r
e
r
t
−
1
−
464.701
(
1.83
)
)
+
0.423
(
0.102
)
(
t
o
t
t
−
1
−
463.516
(
1.05
)
)
+
0.589
(
0.233
)
(
r
t
−
1
−
r
t
−
1
f
−
1.5
)
+
1.382
(
0.162
)
Δ
t
o
t
t
−
0.228
(
0.082
)
Δ
r
e
r
t
−
1
−
0.088
(
0.082
)
Δ
r
e
r
t
−
2
−
0.228
(
0.081
)
Δ
r
e
r
t
−
3
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