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RDP 2000-06: Inflation Targeting and Exchange Rate Fluctuations in Australia
Equation (B5)
Δ
w
p
t
=
α
w
p
−
0.125
(
2.44
)
(
w
p
t
−
1
−
w
p
t
−
1
t
r
e
n
d
)
+
0.336
(
2.64
)
Δ
w
p
t
−
1
0.012
(
0.10
)
Δ
w
p
t
−
2
+
0.355
(
2.83
)
Δ
w
p
t
−
3
+
ε
t
w
p
R
¯
2
=
0.180
σ
^
=
0.825
%
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