RDP 2005-05: Underlying Inflation: Concepts, Measurement and Performance
Equation (6)
Δ
π
t
=
α
10
+
α
11
(
π
t
−
1
−
π
t
−
1
∗
)
+
α
12
(
π
t
−
1
−
π
¯
)
+
ε
1
t
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