RDP 1999-01: The Phillips Curve in Australia Equation (13)

Δ 4 ln P t − Δ 4 ln P t−1 =δ( Δ P t ∗ − Δ 4 ln P t−1 )+γ ( U t − U t ∗ ) U t +d Δ U t−1 U t + α 1 ( Δ 4 lnP M t−1 − Δ 4 lnP M t−2 )+ α 2 ( Δln P t−1 −Δln P t−4 ). MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGceaGabeaacqqHuo ardaWgaaWcbaGaaGinaaqabaGcciGGSbGaaiOBaiaadcfadaWgaaWc baGaamiDaaqabaGccqGHsislcqqHuoardaWgaaWcbaGaaGinaaqaba GcciGGSbGaaiOBaiaadcfadaWgaaWcbaGaamiDaiabgkHiTiaaigda aeqaaOGaeyypa0JaeqiTdq2aaeWaaeaacqqHuoarcaWGqbWaa0baaS qaaiaadshaaeaacqGHxiIkaaGccqGHsislcqqHuoardaWgaaWcbaGa aGinaaqabaGcciGGSbGaaiOBaiaadcfadaWgaaWcbaGaamiDaiabgk HiTiaaigdaaeqaaaGccaGLOaGaayzkaaGaey4kaSIaeq4SdC2aaSaa aeaadaqadaqaaiaadwfadaWgaaWcbaGaamiDaaqabaGccqGHsislca WGvbWaa0baaSqaaiaadshaaeaacqGHxiIkaaaakiaawIcacaGLPaaa aeaacaWGvbWaaSbaaSqaaiaadshaaeqaaaaakiabgUcaRiaadsgada Wcaaqaaiabfs5aejaadwfadaWgaaWcbaGaamiDaiabgkHiTiaaigda aeqaaaGcbaGaamyvamaaBaaaleaacaWG0baabeaaaaGccqGHRaWkae aacqaHXoqydaWgaaWcbaGaaGymaaqabaGcdaqadaqaaiabfs5aenaa BaaaleaacaaI0aaabeaakiGacYgacaGGUbGaamiuaiaad2eadaWgaa WcbaGaamiDaiabgkHiTiaaigdaaeqaaOGaeyOeI0IaeuiLdq0aaSba aSqaaiaaisdaaeqaaOGaciiBaiaac6gacaWGqbGaamytamaaBaaale aacaWG0bGaeyOeI0IaaGOmaaqabaaakiaawIcacaGLPaaacqGHRaWk cqaHXoqydaWgaaWcbaGaaGOmaaqabaGcdaqadaqaaiabfs5aejGacY gacaGGUbGaamiuamaaBaaaleaacaWG0bGaeyOeI0IaaGymaaqabaGc cqGHsislcqqHuoarciGGSbGaaiOBaiaadcfadaWgaaWcbaGaamiDai abgkHiTiaaisdaaeqaaaGccaGLOaGaayzkaaGaaiOlaaaaaa@977C@