RDP 9105: Inflation in Australia: Causes, Inertia and Policy
Equation (a1.4)
π
t
=
a
1
π
t
−
1
+
a
3
b
1
w
•
t
−
1
+
(
a
2
c
1
+
a
3
b
2
c
1
+
a
3
b
3
)
m
•
t
−
1
+
u
1
t
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