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RDP 2008-07: A Medium-Scale Open Economy Model of Australia
Equation (B23)
E
^
t
=
β
1
+
β
E
t
E
^
t
+
1
+
1
1
+
β
E
^
t
−
1
+
(
1
−
ξ
e
)
(
1
−
β
ξ
e
)
ξ
e
(
1
−
β
)
(
H
^
t
−
E
^
t
)
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