RDP 2008-07: A Medium-Scale Open Economy Model of Australia
Equation (B5)
E
t
[
η
0
w
¯
^
t
−
1
+
η
1
w
¯
^
t
+
η
2
w
¯
^
t
+
1
+
η
3
(
π
^
t
d
−
π
¯
^
t
c
)
+
…
η
4
(
π
^
t
+
1
d
−
ρ
π
π
¯
^
t
c
)
+
η
5
(
π
¯
^
t
−
1
c
−
π
¯
^
t
c
)
+
η
6
(
π
^
t
c
−
ρ
π
π
¯
^
t
c
)
+
…
η
7
ψ
^
z
,
t
+
η
8
H
^
t
+
η
9
τ
^
t
y
+
η
10
τ
^
t
w
+
η
11
ς
^
t
h
+
…
η
12
μ
^
z
,
t
+
η
13
μ
^
z
,
t
+
1
]
=
0
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