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RDP 9607: Towards an Understanding of Australia's Co-Movement with Foreign Business Cycles
Equation (1)
Δ
y
t
=
α
+
∑
j
=
2
6
β
j
R
t
−
j
+
∑
j
=
1
2
γ
j
S
O
I
t
−
j
+
∑
j
=
0
7
δ
j
Δ
t
o
t
t
−
j
+
∑
j
=
0
7
κ
j
Δ
r
t
w
i
t
−
j
+
ϕ
y
t
−
1
+
θ
y
f
t
−
1
+
π
Δ
y
f
t
+
ε
t
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