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RDP 2005-11: A Small Model of the Australian Macroeconomy: An Update
Equation (1)
g
a
p
t
=
α
1
g
a
p
t
−
1
+
α
2
∑
i
=
1
7
(
r
t
−
i
−
r
˜
)
+
α
3
Δ
g
a
p
t
U
S
+
α
4
s
t
−
1
+
α
5
(
Δ
r
e
r
t
+
Δ
r
e
r
t
−
1
)
+
α
6
(
Δ
t
o
t
t
−
4
+
Δ
t
o
t
t
−
5
)
+
α
7
D
t
y
G
S
T
+
ε
t
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