RDP 8601: Classical Models and Unobserved Aggregates
Equation (21)
[
t
−
1
B
t
t
−
1
z
t
(
B
t
−
t
−
1
B
t
)
(
z
t
−
t
−
1
z
t
)
]
=
[
c
1
c
2
c
3
c
4
f
1
f
2
f
3
f
4
0
0
0
0
0
0
0
f
8
]
[
t
−
2
B
t
−
1
t
−
2
z
t
−
1
(
B
t−1
−
t
−
2
B
t
−
1
)
(
z
t
−
1
−
t
−
2
z
t
−
1
)
]
+
[
c
5
c
6
c
7
f
5
f
6
f
7
0
0
0
−
f
9
0
−
f
7
]
[
ε
t
−
1
d
ε
t
−
1
s
μ
t
−
1
]
+
[
0
0
0
0
1
0
0
1
]
[
η
t
υ
t
]
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