RDP 2016-08: The Slowdown in US Productivity Growth: Breaks and Beliefs Equation (B14)

r t =ρ r t1 +( 1ρ ) ϕ π ( π t ye π t * )+( 1ρ ) ϕ y 4 ( x t x t4 + z t + z t1 + z t2 + z t3 )+ ε R,t MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=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@7BA8@