RDP 9105: Inflation in Australia: Causes, Inertia and Policy
Equation (8)
π
=
τ
m
•
+
ζ
w
•
+
v
=(
ζ
+
τ
)
m
•
+
ζ
(
u
+
v
)
+
v
where
τ
=
1
and
ζ
=
0.
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