RDP 2015-07: A Multi-sector Model of the Australian Economy Equation (A5)

\begin{array}{l} {\hat{λ}}_{j, t}^{k} = [\frac{μ - β (1 - δ)}{μ}] [{\hat{λ}}_{t + 1} + {\hat{r}}_{j, t + 1}] \\ + \frac{β (1 - δ)}{μ} {\hat{λ}}_{j, t + 1}^{k} - {\hat{μ}}_{t + 1} \end{array}