RDP 2003-01: Business Surveys and Economic Activity Equation (2)

Δ G D P_{i t} = ϕ_{i 0} + \sum_{j = 1}^{4} ϕ_{i j} Δ G D P_{i t - j} = φ_{i} B C_{i t - 1}^{e} + ν_{i t}