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RDP 2013-08: International Business Cycles with Complete Markets
Equation (4)
k
j
(
s
t
)
=
(
1
−
δ
)
k
j
(
s
t
−
1
)
+
ϕ
(
i
j
(
s
t
)
k
j
(
s
t
−
1
)
)
k
j
(
s
t
−
1
)
,
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