RDP 2000-06: Inflation Targeting and Exchange Rate Fluctuations in Australia
Equation (A1)
Δ
y
t
=
α
y
−
0.207
(
4.77
)
(
y
t
−
1
+
0.1
r
e
r
t
−
1
−
0.05
t
o
t
t
−
1
−
1.212
(
40.06
)
w
y
t
−
1
)
+
0.371
(
2.77
)
Δ
w
y
t
+
0.022
(
3.05
)
Δ
f
y
t
−
1
+
0.020
(
0.29
)
r
t
−
1
−
0.101
(
1.09
)
r
t
−
2
+
0.014
(
0.16
)
r
t
−
3
+
0.045
(
0.09
)
r
t
−
4
−
0.128
(
1.40
)
r
t
−
5
−
0.017
(
0.25
)
r
t
−
6
+
ε
t
y
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