RDP 2008-05: Understanding the Flattening Phillips Curve
Equation (4)
π
t
=
P
π
t
−
1
+
λ
1
−
γ
f
P
∑
i
=
0
∞
(
γ
f
1
−
γ
f
P
)
i
+
E
t
m
c
t
+
i
,
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