RDP 9612: External Influences on Output: An Industry Analysis
Equation (3)
Δ
y
t
a
g
g
=
β
0
+
β
1
y
t
−
1
a
g
g
+
β
2
y
˜
t
−
1
a
g
g
+
Σ
i
=
2
6
β
3
i
r
t
−
i
+
Σ
i
=
1
4
β
4
i
Δ
y
t
−
i
a
g
g
+
Σ
i
=
0
4
β
5
i
Δ
f
a
r
m
t
−
i
+
Σ
i
=
0
4
β
6
i
Δ
y
˜
t
−
i
a
g
g
+
Σ
i
=
0
4
β
7
i
s
h
o
c
k
t
−
i
+
β
8
t
r
e
n
d
+
ε
t
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