RDP 2000-06: Inflation Targeting and Exchange Rate Fluctuations in Australia
Equation (A5)
Δ
p
m
t
=
α
p
m
−
0.170
(
2.04
)
(
p
m
t
−
1
−
w
p
t
−
1
+
n
e
r
t
−
1
)
−
0.633
(
17.69
)
Δ
n
e
r
t
−
0.135
(
2.97
)
Δ
n
e
r
t
−
1
+
0.646
(
3.60
)
Δ
w
p
t
−
0.001
(
2.56
)
t
+
ε
t
p
m
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