RDP 9509: Australian Wage and Price Inflation: 1971–1994 Equation (7)

\begin{array}{l} Δ p_{t}^{f c} = γ_{0} + Σ ϕ_{1, i} Δ p_{t - 1}^{f c} + Σ ϕ_{2, i} Δ u l c_{t - i} + ϕ_{3} {\hat{y}}_{t - 1} + Σ ϕ_{4, i} Δ {\hat{y}}_{t - i} \\ + Σ ϕ_{5, i} Δ p_{m t - i} + Σ ϕ_{6, i} Δ p e t_{t - i} + γ_{1} r e r_{t - 1} + γ_{2} p_{t - 1}^{f c} + γ_{3} u l c_{t - 1} \end{array}