RDP 9809: Estimating Output Gaps
Equation (4)
L
=
Σ
t
=
1
S
(
y
t
−
y
t
T
)
2
+
λ
Σ
t
=
2
S
−
1
(
Δ
y
t
+
1
T
−
Δ
y
t
T
)
2
+
Σ
t
=
1
S
μ
t
ε
π
,
t
2
+
Σ
t
=
1
S
β
t
ε
μ
,
t
2
+
Σ
t
=
1
S
ψ
t
ε
c
u
,
t
2
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