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RDP 9508: Are Terms of Trade Rises Inflationary?
Equation (A3.1)
Δ
G
D
P
t
=
a
+
∑
j
=
1
4
b
j
Δ
G
D
P
t
−
j
+
∑
j
=
0
7
c
j
Δ
T
O
T
t
−
j
+
∑
j
=
0
7
d
j
Δ
R
T
W
I
t
−
j
+
∑
j
=
2
6
e
j
R
B
R
t
−
j
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