The state process is
$$X_{t+1} = K^{1-S} X_{t}^S \epsilon_{t},$$ where \(S=e^{-r}\)
and the \(\epsilon_t\) are i.i.d. lognormal random deviates with
variance \(\sigma^2\).
The observed variables \(Y_t\) are distributed as
$$Y_t\sim\mathrm{lognormal}(\log{X_t},\tau).$$
Parameters include the per-capita growth rate \(r\), the carrying
capacity \(K\), the process noise s.d. \(\sigma\), the
measurement error s.d. \(\tau\), and the initial condition
\(X_0\). The ‘pomp’ object includes parameter
transformations that log-transform the parameters for estimation purposes.