RDP 2003-12: The Real-Time Forecasting Performance of Phillips Curves
Equation (A2)
L
=
∑
t
=
1
n
ε
t
2
+
λ
P
C
∑
t
=
2
n
−
1
(
(
y
t
+
1
∗
−
y
t
∗
)
−
(
y
t
∗
−
y
t
−
1
∗
)
)
2
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