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RDP 9705: The Response of the Current Account to Terms of Trade Shocks: A Panel-data Study
Equation (14)
t
o
t
i
t
=
ρ
i
t
o
t
i
t
−
1
+
α
i
1
Δ
t
o
t
i
t
−
1
+
α
i
2
Δ
t
o
t
i
t
−
2
+
…
+
α
i
p
−
1
Δ
t
o
t
i
t
−
p
+
1
+
ε
i
t
,
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