Each equation is a two-sided formula. Lags and leads use index
notation: x[-1] is the first lag, x[+1] the first lead. Wrap
expectations in E(): E(pi[+1]) is the model-consistent expectation
of next quarter's inflation. Longer lags and leads (e.g. E(pi4[+4]))
are handled automatically via auxiliary state variables.
Examples
eqs(
pi ~ b1 * pi[-1] + (1 - b1) * E(pi[+1]) + b2 * y_gap + eps_pi
)
#> [[1]]
#> pi ~ b1 * pi[-1] + (1 - b1) * E(pi[+1]) + b2 * y_gap + eps_pi
#> <environment: 0x55cc19e66d60>
#>