RDP 9809: Estimating Output Gaps
Equation (A.3)
[
y
t
π
t
]
=
[
0
0
1
1
0
0
0
0
1
0
β
0
δ
1
δ
2
]
[
μ
t
y
μ
t
π
y
t
p
z
t
z
t
−
1
θ
t
ω
t
]
+
[
0
(
1
−
δ
1
−
δ
2
)
π
t
−
1
*
]
+
[
0
0
0
0
0
1
]
[
ε
t
y
ε
t
z
ε
t
π
]
and
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