RDP 2016-08: The Slowdown in US Productivity Growth: Breaks and Beliefs
Equation (B13)
w
t
=
(
1
−
w
1
)
(
E
t
(
w
t
+
1
)
+
E
t
π
t
+
1
)
+
λ
t
w
+
w
1
w
t
−
1
−
w
2
π
t
+
w
3
(
π
t
−
1
+
z
t
−
1
)
−
w
4
w
g
t
−
w
5
z
t
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