RDP 9611: A Markov-Switching Model of Inflation in Australia
Equation (A.3)
log
f
(
y
T
,
y
T
−
1
,
…
,
y
1
)
=
∑
t
=
1
T
log
f
(
y
t
|
y
t
−
1
,
…
)
.
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