RDP 2008-04: A Small Bvar-Dsge Model for Forecasting the Australian Economy
Equation (3)
y
t
=
E
t
y
t
+
1
−
χ
(
R
t
−
E
t
π
t
+
1
)
+
χ
ρ
z
z
t
+
α
χ
E
t
Δ
q
t
+
1
+
(
χ
τ
−
1
)
E
t
Δ
y
t
+
1
∗
,
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