RDP 2015-04: The Sticky Information Phillips Curve: Evidence for Australia Equation (3)

π t = [ 1 − λ λ ] ( α x t + ξ π ^ t m ) + ( 1 − λ ) ∑ j = 0 ∞ λ j E t − j − 1 [ π t + α Δ x t + ξ Δ π ^ t m ] . MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaeqiWda3aaS baaSqaaiaadshaaeqaaOGaeyypa0ZaamWaaeaadaWcaaqaaiaaigda cqGHsislcqaH7oaBaeaacqaHapaCaaaacaGLBbGaayzxaaWaaeWaae aacqaHXoqycaWG4bWaaSbaaSqaaiaadshaaeqaaOGaey4kaSIaeqOV dGNafqiWdaNbaKaadaqhaaWcbaGaamiDaaqaaiaad2gaaaaakiaawI cacaGLPaaacqGHRaWkdaqadaqaaiaaigdacqGHsislcqaH7oaBaiaa wIcacaGLPaaadaaeWbqaaiabeU7aSnaaCaaaleqabaGaamOAaaaaae aacaWGQbGaeyypa0JaaGimaaqaaiabg6HiLcqdcqGHris5aOGaamyr amaaBaaaleaacaWG0bGaeyOeI0IaamOAaiabgkHiTiaaigdaaeqaaO WaamWaaeaacqaHapaCdaWgaaWcbaGaamiDaaqabaGccqGHRaWkcqaH XoqycqqHuoarcaWG4bWaaSbaaSqaaiaadshaaeqaaOGaey4kaSIaeq OVdGNaeuiLdqKafqiWdaNbaKaadaqhaaWcbaGaamiDaaqaaiaad2ga aaaakiaawUfacaGLDbaacaGGUaaaaa@74FD@