RDP 2002-01: Inflation Targeting and the Inflation Process: Some Lessons from an Open Economy
Equation (A9)
Δ
w
p
t
=
0.625
+
0.462
(
0.092
)
(
Δ
w
p
t
−
1
−
0.625
)
−
0.118
(
0.098
)
(
Δ
w
p
t
−
2
−
0.625
)
+
0.320
(
0.091
)
(
Δ
w
p
t
−
3
−
0.625
)
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