RDP 2008-09: A Term Structure Decomposition of the Australian Yield Curve Equation (11-a)

[ y t , 0.25 ⋮ y t , 10 y ˜ t , τ 1 ⋮ y ˜ t , τ n 1 y ¯ t , τ 1 ⋮ y ¯ t , τ n 2 ] = [ a 0.25 ⋮ a 10 ρ ⋮ ρ a 10 ⋮ a 10 ] + [ b ′ 0.25 ⋮ b ′ 10 1 ′ ⋅ e − τ 1 K ⋮ 1 ′ ⋅ e − τ n 1 K b ′ 10 ⋅ e − τ 1 K ⋮ b ′ 10 ⋅ e − τ n 2 K ] x t + [ η t , 0.25 ⋮ η t , 10 η ˜ t , τ 1 ⋮ η ˜ t , τ n 1 η ¯ t , τ 1 ⋮ η ¯ t , τ n 2 ] MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaWaamWaaeaafa qabeqcbaaaaaqaaiaadMhadaWgaaWcbaGaamiDaiaacYcacaaIWaGa aiOlaiaaikdacaaI1aaabeaaaOqaaiabl6UinbqaaiaadMhadaWgaa WcbaGaamiDaiaacYcacaaIXaGaaGimaaqabaaakeaaceWG5bGbaGaa daWgaaWcbaGaamiDaiaacYcacqaHepaDdaWgaaadbaGaaGymaaqaba aaleqaaaGcbaGaeSO7I0eabaGabmyEayaaiaWaaSbaaSqaaiaadsha caGGSaGaeqiXdq3aaSbaaWqaaiaad6gadaWgaaqaaiaaigdaaeqaaa qabaaaleqaaaGcbaGabmyEayaaraWaaSbaaSqaaiaadshacaGGSaGa eqiXdq3aaSbaaWqaaiaaigdaaeqaaaWcbeaaaOqaaiabl6Uinbqaai qadMhagaqeamaaBaaaleaacaWG0bGaaiilaiabes8a0naaBaaameaa caWGUbWaaSbaaeaacaaIYaaabeaaaeqaaaWcbeaaaaaakiaawUfaca GLDbaacqGH9aqpdaWadaqaauaabeqajeaaaaaabaGaamyyamaaBaaa leaacaaIWaGaaiOlaiaaikdacaaI1aaabeaaaOqaaiabl6Uinbqaai aadggadaWgaaWcbaGaaGymaiaaicdaaeqaaaGcbaGaeqyWdihabaGa eSO7I0eabaGaeqyWdihabaGaamyyamaaBaaaleaacaaIXaGaaGimaa qabaaakeaacqWIUlstaeaacaWGHbWaaSbaaSqaaiaaigdacaaIWaaa beaaaaaakiaawUfacaGLDbaacqGHRaWkdaWadaqaauaabeqajeaaaa aabaGabCOyayaafaWaaSbaaSqaaiaaicdacaGGUaGaaGOmaiaaiwda aeqaaaGcbaGaeSO7I0eabaGabCOyayaafaWaaSbaaSqaaiaaigdaca aIWaaabeaaaOqaaiqaigdagaqbaiabgwSixlaadwgadaahaaWcbeqa aiabgkHiTiabes8a0naaBaaameaacaaIXaaabeaaliaadUeaaaaake aacqWIUlstaeaaceaIXaGbauaacqGHflY1caWGLbWaaWbaaSqabeaa cqGHsislcqaHepaDdaWgaaadbaGaamOBamaaBaaabaGaaGymaaqaba aabeaaliaadUeaaaaakeaaceWHIbGbauaadaWgaaWcbaGaaGymaiaa icdaaeqaaOGaeyyXICTaamyzamaaCaaaleqabaGaeyOeI0IaeqiXdq 3aaSbaaWqaaiaaigdaaeqaaSGaam4saaaaaOqaaiabl6Uinbqaaiqa hkgagaqbamaaBaaaleaacaaIXaGaaGimaaqabaGccqGHflY1caWGLb WaaWbaaSqabeaacqGHsislcqaHepaDdaWgaaadbaGaamOBamaaBaaa baGaaGOmaaqabaaabeaaliaadUeaaaaaaaGccaGLBbGaayzxaaGaaC iEamaaBaaaleaacaWG0baabeaakiabgUcaRmaadmaabaqbaeqabKqa aaaaaeaacqaH3oaAdaWgaaWcbaGaamiDaiaacYcacaaIWaGaaiOlai aaikdacaaI1aaabeaaaOqaaiabl6UinbqaaiabeE7aOnaaBaaaleaa caWG0bGaaiilaiaaigdacaaIWaaabeaaaOqaaiqbeE7aOzaaiaWaaS baaSqaaiaadshacaGGSaGaeqiXdq3aaSbaaWqaaiaaigdaaeqaaaWc beaaaOqaaiabl6UinbqaaiqbeE7aOzaaiaWaaSbaaSqaaiaadshaca GGSaGaeqiXdq3aaSbaaWqaaiaad6gadaWgaaqaaiaaigdaaeqaaaqa baaaleqaaaGcbaGafq4TdGMbaebadaWgaaWcbaGaamiDaiaacYcacq aHepaDdaWgaaadbaGaaGymaaqabaaaleqaaaGcbaGaeSO7I0eabaGa fq4TdGMbaebadaWgaaWcbaGaamiDaiaacYcacqaHepaDdaWgaaadba GaamOBamaaBaaabaGaaGOmaaqabaaabeaaaSqabaaaaaGccaGLBbGa ayzxaaaaaa@E289@