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RDP 9504: The Link Between the Cash Rate and Market Interest Rates
Equation
Δ
y
t
=
α
+
φ
y
t
−
1
+
ϕ
x
t
−
1
+
Σ
i
=
1
m
β
Δ
y
t
−
i
+
Σ
i
=
0
m
θ
Δ
x
t
−
i
+
ε
t
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