RBA Annual Conference – 2018 Equation

\begin{array}{l} {\bar{r}}_{t} = \frac{\sum_{X} \sum_{m \in X} \sum_{i = 0}^{T_{m - 1}} d_{X, m, t, i} r_{m, t, i}}{\sum_{X} \sum_{m \in X} \sum_{i = 0}^{T_{m - 1}} d_{X, m, t, i}} + q \\ d_{X, m, t, i} = β_{X, t - i} [\frac{l_{m, t - i} / T_{m}}{\sum_{j \in X} l_{j, t - i} / T_{j}}] V_{t - i} \end{array}