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RDP 9508: Are Terms of Trade Rises Inflationary?
Equation (A2.2)
Δ
p
=
(
α
+
γ
χ
σ
)
.
(
Δ
p
−
Δ
q
+
Δ
T
O
T
)
+
(
β
+
γ
χ
μ
)
.
(
Δ
p
−
Δ
q
)
+
γ
χ
(
π
+
ϕ
(
y
−
y
N
)
)
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