RDP 9407: Explaining Import Price Inflation: A Recent History of Second Stage Pass-Through
Equation (8)
Δ
p
t
=
a
0
+
∑
i
=
1
k
−
1
a
1
i
Δ
p
t
−
i
+
∑
i
=
0
k
−
1
a
2
i
Δ
e
t
−
i
+
∑
i
=
0
k
−
1
a
3
i
Δ
w
t
−
i
+
b
1
p
t
−
1
+
b
2
e
t
−
1
+
b
3
w
t
−
1
+
u
t
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGceaabbeaacqqHuo arcaWGWbWaaSbaaSqaaiaadshaaeqaaOGaeyypa0JaamyyamaaBaaa leaacaaIWaaabeaakiabgUcaRmaaqahabaGaamyyamaaBaaaleaaca aIXaGaamyAaaqabaaabaGaamyAaiabg2da9iaaigdaaeaacaWGRbGa eyOeI0IaaGymaaqdcqGHris5aOGaeuiLdqKaamiCamaaBaaaleaaca WG0bGaeyOeI0IaamyAaaqabaGccqGHRaWkdaaeWbqaaiaadggadaWg aaWcbaGaaGOmaiaadMgaaeqaaaqaaiaadMgacqGH9aqpcaaIWaaaba Gaam4AaiabgkHiTiaaigdaa0GaeyyeIuoakiabfs5aejaadwgadaWg aaWcbaGaamiDaiabgkHiTiaadMgaaeqaaOGaey4kaSYaaabCaeaaca WGHbWaaSbaaSqaaiaaiodacaWGPbaabeaaaeaacaWGPbGaeyypa0Ja aGimaaqaaiaadUgacqGHsislcaaIXaaaniabggHiLdGccqqHuoarca WG3bWaaSbaaSqaaiaadshacqGHsislcaWGPbaabeaaaOqaaiabgUca RiaadkgadaWgaaWcbaGaaGymaaqabaGccaWGWbWaaSbaaSqaaiaads hacqGHsislcaaIXaaabeaakiabgUcaRiaadkgadaWgaaWcbaGaaGOm aaqabaGccaWGLbWaaSbaaSqaaiaadshacqGHsislcaaIXaaabeaaki abgUcaRiaadkgadaWgaaWcbaGaaG4maaqabaGccaWG3bWaaSbaaSqa aiaadshacqGHsislcaaIXaaabeaakiabgUcaRiaadwhadaWgaaWcba GaamiDaaqabaaaaaa@8493@