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RDP 2016-02: Disagreement about Inflation Expectations
Equation (6)
σ
t
,
t
+
4
=
c
j
+
β
1
π
t
+
β
2
|
π
t
−
2.5
|
+
∑
k
=
1
4
σ
t
−
k
,
t
−
k
+
4
+
ε
t
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