RDP 2016-05: Trade Invoicing Currency and First-stage Exchange Rate Pass-through Equation

Δ p_{i, t} = α_{i} + \bar{s_{i}^{D}} \sum_{j = 0}^{7} β_{j}^{D} Δ e_{i, t - j} + (1 - \bar{s_{i}^{D}}) \sum_{j = 0}^{7} β_{j}^{N D} Δ e_{i, t - j} + \sum_{j = 0}^{3} δ_{j} G D P_{t - j} + ε_{i, t}