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 MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaamyramaaBa aaleaacaWG0baabeaakmaadmaaeaqabeaacqaH3oaAdaWgaaWcbaGa aGimaaqabaGcdaqiaaqaaiqadEhagaqeaaGaayPadaWaaSbaaSqaai aadshacqGHsislcaaIXaaabeaakiabgUcaRiabeE7aOnaaBaaaleaa caaIXaaabeaakmaaHaaabaGabm4DayaaraaacaGLcmaadaWgaaWcba GaamiDaaqabaGccqGHRaWkcqaH3oaAdaWgaaWcbaGaaGOmaaqabaGc daqiaaqaaiqadEhagaqeaaGaayPadaWaaSbaaSqaaiaadshacqGHRa WkcaaIXaaabeaakiabgUcaRiabeE7aOnaaBaaaleaacaaIZaaabeaa kmaabmaabaWaaecaaeaacqaHapaCaiaawkWaamaaDaaaleaacaWG0b aabaGaamizaaaakiabgkHiTmaaHaaabaGafqiWdaNbaebaaiaawkWa amaaDaaaleaacaWG0baabaGaam4yaaaaaOGaayjkaiaawMcaaiabgU caRiablAcilbqaaiabeE7aOnaaBaaaleaacaaI0aaabeaakmaabmaa baWaaecaaeaacqaHapaCaiaawkWaamaaDaaaleaacaWG0bGaey4kaS IaaGymaaqaaiaadsgaaaGccqGHsislcqaHbpGCdaWgaaWcbaGaeqiW dahabeaakmaaHaaabaGafqiWdaNbaebaaiaawkWaamaaDaaaleaaca WG0baabaGaam4yaaaaaOGaayjkaiaawMcaaiabgUcaRiabeE7aOnaa BaaaleaacaaI1aaabeaakmaabmaabaWaaecaaeaacuaHapaCgaqeaa GaayPadaWaa0baaSqaaiaadshacqGHsislcaaIXaaabaGaam4yaaaa kiabgkHiTmaaHaaabaGafqiWdaNbaebaaiaawkWaamaaDaaaleaaca WG0baabaGaam4yaaaaaOGaayjkaiaawMcaaiabgUcaRiabeE7aOnaa BaaaleaacaaI2aaabeaakmaabmaabaWaaecaaeaacqaHapaCaiaawk WaamaaDaaaleaacaWG0baabaGaam4yaaaakiabgkHiTiabeg8aYnaa BaaaleaacqaHapaCaeqaaOWaaecaaeaacuaHapaCgaqeaaGaayPada Waa0baaSqaaiaadshaaeaacaWGJbaaaaGccaGLOaGaayzkaaGaey4k aSIaeSOjGSeabaGaeq4TdG2aaSbaaSqaaiaaiEdaaeqaaOWaaecaae aacqaHipqEaiaawkWaamaaBaaaleaacaWG6bGaaiilaiaadshaaeqa aOGaey4kaSIaeq4TdG2aaSbaaSqaaiaaiIdaaeqaaOWaaecaaeaaca WGibaacaGLcmaadaWgaaWcbaGaamiDaaqabaGccqGHRaWkcqaH3oaA daWgaaWcbaGaaGyoaaqabaGcdaqiaaqaaiabes8a0bGaayPadaWaa0 baaSqaaiaadshaaeaacaWG5baaaOGaey4kaSIaeq4TdG2aaSbaaSqa aiaaigdacaaIWaaabeaakmaaHaaabaGaeqiXdqhacaGLcmaadaqhaa WcbaGaamiDaaqaaiaadEhaaaGccqGHRaWkcqaH3oaAdaWgaaWcbaGa aGymaiaaigdaaeqaaOWaaecaaeaacqaHcpGvaiaawkWaamaaDaaale aacaWG0baabaGaamiAaaaakiabgUcaRiablAcilbqaaiabeE7aOnaa BaaaleaacaaIXaGaaGOmaaqabaGcdaqiaaqaaiabeY7aTbGaayPada WaaSbaaSqaaiaadQhacaGGSaGaamiDaaqabaGccqGHRaWkcqaH3oaA daWgaaWcbaGaaGymaiaaiodaaeqaaOWaaecaaeaacqaH8oqBaiaawk WaamaaBaaaleaacaWG6bGaaiilaiaadshacqGHRaWkcaaIXaaabeaa aaGccaGLBbGaayzxaaGaeyypa0JaaGimaaaa@DA9B@