RDP 9705: The Response of the Current Account to Terms of Trade Shocks: A Panel-data Study
Equation (10)
Δ
C
A
i
t
=
∑
j
=
1
4
α
j
Δ
C
A
i
t
−
j
+
∑
j
=
0
4
β
j
Δ
T
O
T
i
t
−
j
s
+
∑
j
=
0
4
γ
j
Δ
G
D
P
i
t
−
j
s
+
u
i
t
,
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaeuiLdqKaam 4qaiaadgeadaWgaaWcbaGaamyAaiaadshaaeqaaOGaeyypa0ZaaabC aeaacqaHXoqydaWgaaWcbaGaamOAaaqabaGccqqHuoarcaWGdbGaam yqamaaBaaaleaacaWGPbGaamiDaiabgkHiTiaadQgaaeqaaOGaey4k aSYaaabCaeaacqaHYoGydaWgaaWcbaGaamOAaaqabaGccqqHuoarca WGubGaam4taiaadsfadaqhaaWcbaGaamyAaiaadshacqGHsislcaWG QbaabaGaam4CaaaakiabgUcaRmaaqahabaGaeq4SdC2aaSbaaSqaai aadQgaaeqaaOGaeuiLdqKaam4raiaadseacaWGqbWaa0baaSqaaiaa dMgacaWG0bGaeyOeI0IaamOAaaqaaiaadohaaaGccqGHRaWkcaWG1b WaaSbaaSqaaiaadMgacaWG0baabeaakiaacYcaaSqaaiaadQgacqGH 9aqpcaaIWaaabaGaaGinaaqdcqGHris5aaWcbaGaamOAaiabg2da9i aaicdaaeaacaaI0aaaniabggHiLdaaleaacaWGQbGaeyypa0JaaGym aaqaaiaaisdaa0GaeyyeIuoaaaa@746B@