RDP 8601: Classical Models and Unobserved Aggregates
Equation (6)
B
t
=
θ
B
t
−
1
+
λ
y
t
−
1
+
π
p
t
−
1
+
ρ
z
^
t
−
1
+
τ
t
−
1
z
t
−
1
+
η
t
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