RDP 2010-03: Modelling Inflation in Australia
Equation (9)
π
t
N
M
=
c
N
M
+
β
N
M
E
t
−
1
π
t
+
s
+
χ
N
M
(
1
u
r
t
−
2
)
+
δ
N
M
Δ
4
u
r
t
−
3
+
∑
k
=
1
12
γ
k
N
M
Δ
m
p
t
−
k
+
ε
t
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