RDP 8611: The Effectiveness of Fiscal Policy in an Economy with Anticipatory Wage Contracts
Equation (A4)
W
(
t
)
≃
1
T
[
P
(
t
)
+
T
2
π
^
(
t
)
+
w
^
−
T
2
π
*
(
t
)
+
P
(
t
−
T
)
+
T
2
π
^
(
t
−
T
)
+
w
^
+
T
2
π
*
(
t
−
T
)
]
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