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RDP 2013-08: International Business Cycles with Complete Markets
Equation (B2)
k
(
s
t
)
=
(
1
−
δ
)
k
(
s
t
−
1
)
+
ϕ
(
i
(
s
t
)
k
(
s
t
−
1
)
)
k
(
s
t
−
1
)
,
for
j
=
J
,
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=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@650D@