RDP 2006-11: Component-smoothed Inflation: Estimating the Persistent Component of Inflation in Real Time Equation (3)

α it = Q Q+ R it MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaeqySde2aaS baaSqaaiaadMgacaWG0baabeaakiabg2da9maalaaabaGaamyuaaqa aiaadgfacqGHRaWkcaWGsbWaaSbaaSqaaiaadMgacaWG0baabeaaaa aaaa@4040@