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
,
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaamiDaiaad+ gacaWG0bWaaSbaaSqaaiaadMgacaWG0baabeaakiabg2da9iabeg8a YnaaBaaaleaacaWGPbaabeaakiaadshacaWGVbGaamiDamaaBaaale aacaWGPbGaamiDaiabgkHiTiaaigdaaeqaaOGaey4kaSIaeqySde2a aSbaaSqaaiaadMgacaaIXaaabeaakiabfs5aejaadshacaWGVbGaam iDamaaBaaaleaacaWGPbGaamiDaiabgkHiTiaaigdaaeqaaOGaey4k aSIaeqySde2aaSbaaSqaaiaadMgacaaIYaaabeaakiabfs5aejaads hacaWGVbGaamiDamaaBaaaleaacaWGPbGaamiDaiabgkHiTiaaikda aeqaaOGaey4kaSIaeSOjGSKaey4kaSIaeqySde2aaSbaaSqaaiaadM gacaWGWbGaeyOeI0IaaGymaaqabaGccqqHuoarcaWG0bGaam4Baiaa dshadaWgaaWcbaGaamyAaiaadshacqGHsislcaWGWbGaey4kaSIaaG ymaaqabaGccqGHRaWkcqaH1oqzdaWgaaWcbaGaamyAaiaadshaaeqa aOGaaiilaaaa@75F6@