RDP 2013-11: Issues in Estimating New-Keynesian Phillips Curves in the Presence of Unknown Structural Change
Equation (A6)
π
t
=
α
π
t
−
1
+
γ
(
ϕ
1
π
t
+
ϕ
2
x
t
+
ϕ
3
r
t
)
+
δ
x
t
+
ε
1
t
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