RDP 8701: The Australian Demand Function for Money: Another Look at Stability
Equation (4)
(
m
t
−
p
t
)
−
(
m
t
−
1
−
p
t
−
1
)
=
θ
1
(
y
t
−
y
t
−
1
)
+
θ
2
(
r
t
−
r
t
−
1
)
+
θ
3
[
(
m
t
−
1
−
p
t
−
1
)
*
−
(
m
t
−
1
−
p
t
−
1
)
]
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