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RDP 9704: Financial Aggregates as Conditioning Information for Australian Output and Inflation
Equation (3)
Δ
p
t
=
δ
+
ϕ
1
Δ
u
l
c
t
+
ϕ
2
Δ
u
l
c
t
−
2
+
ϕ
3
Δ
u
l
c
t
−
4
+
ϕ
4
Δ
i
p
t
−
3
+
ϕ
5
y
t
−
1
g
a
p
+
ϕ
6
p
t
−
1
+
ϕ
7
Δ
u
l
c
t
−
1
+
ϕ
8
i
p
t
−
1
+
ϕ
9
D
t
+
u
t
,
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