1.Supply Equation :BPt=β*(BPt-1,Tt,BMPt-1/BFPt-1)
2.Demand Equation:PBCt=β*(PBCt-1,BMPt,SPMPt,SBMPt,SMMPt,PDIt)
3.Export Equation:BEt=β*(BEPt,ERt,Tt)
4.Import Equation: BIt=β*(BIPt,BPt,Tt)
5.Export Price and Domestic Price Equation:BEPt=β*(BEPt-1,BMPt,BPt,ERt,WTO,Tt)
6.Import Price and Domestic Price Equation:BIPt=β*(BIPt-1,BMPt,BPt,ERt,WTO,Tt)
7.Market Clearance Equation:BPt=PBCt*POPt+BEt-BIt+BSt