RDP 2004-09: Co-Movement of Australian State Business Cycles
Equation (7)
[
Δ
s
i
t
Δ
h
i
t
+
2
]
=
[
δ
i
s
δ
i
h
]
+
[
γ
i
s
1
γ
i
h
θ
i
]
[
Δ
x
n
t
Δ
x
i
t
]
+
[
μ
i
t
s
μ
i
t
h
]
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