RDP 2015-07: A Multi-sector Model of the Australian Economy
Equation (A35)
r
^
t
*
=
ρ
r
*
r
^
t
−
1
*
+
(
1
−
ρ
r
*
)
(
ϕ
π
*
π
^
t
*
+
ϕ
y
*
y
^
t
*
)
+
ϕ
Δ
y
*
(
y
^
t
*
−
y
^
t
−
1
*
)
+
ε
r
,
t
*
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