RDP 1999-01: The Phillips Curve in Australia
Equation (10)
Δ
4
ln
U
L
C
t
−
Δ
4
ln
P
t
−
1
=
a
+
δ
(
Δ
P
t
∗
−
Δ
4
ln
P
t
−
1
)
+
γ
MA
4
(
U
t
)
+
d
Δ
U
t
−
1
+
c
(
Δ
4
ln
U
L
C
t
−
1
−
Δ
4
ln
P
t
−
2
)
+
α
2
(
Δ
ln
U
L
C
t
−
1
−
Δ
ln
U
L
C
t
−
4
)
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