Bulletin – March Quarter 2014 Equation (A3)

Δ i m p o r t t = ω 1 + ω 2 i m p o r t t 1 ω 3 d o m t 1 + ω 4 r e l p r i c e t 1 + φ 1 Δ d o m t + φ 2 Δ r e l p r i c e t + φ 3 Δ i m p o r t t 2 + τ 1 c a s h r a t e t 1 + τ 2 Δ i n v e n t o r y t + t MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaeuiLdqKaam yAaiaad2gacaWGWbGaam4BaiaadkhacaWG0bWaaSbaaSqaaiaadsha aeqaaOGaeyypa0JaeqyYdC3aaSbaaSqaaiaaigdaaeqaaOGaey4kaS IaeqyYdC3aaSbaaSqaaiaaikdaaeqaaOGaamyAaiaad2gacaWGWbGa am4BaiaadkhacaWG0bWaaSbaaSqaaiaadshacqGHsislcaaIXaaabe aakiabeM8a3naaBaaaleaacaaIZaaabeaakiaadsgacaWGVbGaamyB amaaBaaaleaacaWG0bGaeyOeI0IaaGymaaqabaGccqGHRaWkcqaHjp WDdaWgaaWcbaGaaGinaaqabaGccaWGYbGaamyzaiaadYgacaWGWbGa amOCaiaadMgacaWGJbGaamyzamaaBaaaleaacaWG0bGaeyOeI0IaaG ymaaqabaGccqGHRaWkcqaHgpGAdaWgaaWcbaGaaGymaaqabaGccqqH uoarcaWGKbGaam4Baiaad2gadaWgaaWcbaGaamiDaaqabaGccqGHRa WkcqaHgpGAdaWgaaWcbaGaaGOmaaqabaGccqqHuoarcaWGYbGaamyz aiaadYgacaWGWbGaamOCaiaadMgacaWGJbGaamyzamaaBaaaleaaca WG0baabeaakiabgUcaRiabeA8aQnaaBaaaleaacaaIZaaabeaakiab fs5aejaadMgacaWGTbGaamiCaiaad+gacaWGYbGaamiDamaaBaaale aacaWG0bGaeyOeI0IaaGOmaaqabaGccqGHRaWkcqaHepaDdaWgaaWc baGaaGymaaqabaGccaWGJbGaamyyaiaadohacaWGObGaamOCaiaadg gacaWG0bGaamyzamaaBaaaleaacaWG0bGaeyOeI0IaaGymaaqabaGc cqGHRaWkcqaHepaDdaWgaaWcbaGaaGOmaaqabaGccqqHuoarcaWGPb GaamOBaiaadAhacaWGLbGaamOBaiaadshacaWGVbGaamOCaiaadMha daWgaaWcbaGaamiDaaqabaGccqGHRaWkcqGHiiIZdaWgaaWcbaGaam iDaaqabaaaaa@A8EE@