RDP 9612: External Influences on Output: An Industry Analysis
Equation (1)
Δ
y
t
i
=
β
0
+
β
1
y
t
−
1
i
+
β
2
y
˜
t
−
1
i
+
β
3
y
t
−
1
a
g
g
r
e
g
a
t
e
+
β
4
y
˜
t
−
1
a
g
g
r
e
g
a
t
e
+
β
5
Δ
y
˜
t
−
1
a
g
g
r
e
g
a
t
e
+
β
6
Δ
y
t
a
g
g
r
e
g
a
t
e
+
β
7
Δ
y
˜
t
a
g
g
r
e
g
a
t
e
+
β
8
Δ
y
t
−
1
i
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