RDP 2002-01: Inflation Targeting and the Inflation Process: Some Lessons from an Open Economy
Equation (A8)
Δ
t
o
t
t
=
−
0.193
(
0.047
)
(
t
o
t
t
−
1
−
463.516
(
1.05
)
)
+
0.217
(
0.100
)
Δ
t
o
t
t
−
1
+
0.215
(
0.103
)
Δ
t
o
t
t
−
2
+
0.173
(
0.106
)
Δ
t
o
t
t
−
3
+
0.091
(
0.109
)
Δ
t
o
t
t
−
4
+
0.249
(
0.111
)
Δ
t
o
t
t
−
5
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