RDP 2015-12: Modelling the Australian Dollar
Equation (3)
R
T
W
I
t
=
θ
+
β
1
T
o
T
t
+
β
2
R
I
R
D
t
+
δ
1
Δ
T
o
T
t
+
δ
2
Δ
T
o
T
t
−
1
+
δ
3
Δ
T
o
T
t
+
1
+
δ
4
Δ
R
I
R
D
t
+
δ
5
Δ
R
I
R
D
t
−
1
+
δ
6
Δ
R
I
R
D
t
+
1
+
ε
t
.
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