RDP 8810: The Relationship Between Actual Investment and Survey-Based Expectations
Equation (4)
I
t
−
I
^
t
=
a
1
(
P
t
−
E
t
−
1
P
t
)
+
a
2
(
Y
t
−
E
t
−
1
Y
t
)
+
a
3
(
r
t
−
E
t
−
1
r
t
)
+
a
4
(
Π
t
−
E
t
−
1
Π
t
)
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