RDP 9601: Why Does the Australian Dollar Move so Closely with the Terms of Trade? Equation (15)

E R t,k =α+β E t ( E R t,k )+ ε t , k=4,8, MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaqbaeqabeGaaaqaaiaadweacaWGsbWaaSbaaSqaaiaadshacaGGSaGaam4AaaqabaGccqGH9aqpcqaHXoqycqGHRaWkcqaHYoGycaWGfbWaaSbaaSqaaiaadshaaeqaaOWaaeWaaeaacaWGfbGaamOuamaaBaaaleaacaWG0bGaaiilaiaadUgaaeqaaaGccaGLOaGaayzkaaGaey4kaSIaeqyTdu2aaSbaaSqaaiaadshaaeqaaOGaaiilaaqaaiaadUgacqGH9aqpcaaI0aGaaiilaiaaiIdacaGGSaaaaaaa@50C9@