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RDP 2013-11: Issues in Estimating New-Keynesian Phillips Curves in the Presence of Unknown Structural Change
Equation (A5)
x
t
=
ϕ
4
π
t
−
1
+
ϕ
5
x
t
−
1
+
ϕ
6
r
t
−
1
+
ν
2
t
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