RBA Annual Conference – 2018 Equation

\sum_{t = 1}^{T} \frac{Δ f_{2, t}^{* *}}{Δ r_{C, t}} Δ r_{C, t} - μ = \sum_{t = 1}^{T} [1 + \frac{Δ (r_{C L A, t} - r_{C, t})}{Δ r_{C, t}} (\frac{β_{C L A, t}}{1 - \sum_{j} α_{j, t}}) - \frac{Δ (r_{N D, t} - r_{C, t})}{Δ r_{C, t}} (\frac{α_{N D, t}}{1 - \sum_{j} α_{j, t}})] Δ r_{C, t} - μ