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RDP 8611: The Effectiveness of Fiscal Policy in an Economy with Anticipatory Wage Contracts
Equation (A3)
W
˙
(
t
)
=
1
T
[
P
(
t
)
+
T
2
π
^
(
t
)
−
P
(
t
−
T
)
−
T
2
π
^
(
t
−
T
)
−
T
2
(
π
*
(
t
)
+
π
*
(
t
−
T
)
)
]
+
π
(
t
)
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