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RDP 2000-06: Inflation Targeting and Exchange Rate Fluctuations in Australia
Equation (B1)
Δ
w
y
t
=
α
w
y
−
0.094
(
3.07
)
(
w
y
t
−
1
−
w
y
t
−
1
t
r
e
n
d
)
+
0.425
Δ
(
3.90
)
w
y
t
−
1
+
0.125
Δ
(
1.12
)
w
y
t
−
2
+
0.200
Δ
(
1.85
)
w
y
t
−
3
+
ε
t
w
y
R
¯
2
=
0.374
σ
^
=
0.520
%
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