RDP 9407: Explaining Import Price Inflation: A Recent History of Second Stage Pass-Through
Equation (A2.1)
Δ
y
t
=
α
+
β
t
+
(
ρ
−
1
)
y
t
−
1
+
∑
i
=
1
8
γ
i
Δ
y
t
−
i
+
ε
t
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaeuiLdqKaam yEamaaBaaaleaacaWG0baabeaakiabg2da9iabeg7aHjabgUcaRiab ek7aIjaadshacqGHRaWkdaqadaqaaiabeg8aYjabgkHiTiaaigdaai aawIcacaGLPaaacaWG5bWaaSbaaSqaaiaadshacqGHsislcaaIXaaa beaakiabgUcaRmaaqahabaGaeq4SdC2aaSbaaSqaaiaadMgaaeqaaO GaeuiLdqKaamyEamaaBaaaleaacaWG0bGaeyOeI0IaamyAaaqabaGc cqGHRaWkcqaH1oqzdaWgaaWcbaGaamiDaaqabaaabaGaamyAaiabg2 da9iaaigdaaeaacaaI4aaaniabggHiLdaaaa@5BC3@