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RDP 2013-08: International Business Cycles with Complete Markets
Equation (B5)
β
t
π
(
s
t
)
ω
j
u
1
(
c
j
(
s
t
)
,
h
j
(
s
t
−
1
)
,
n
j
(
s
t
)
)
+
n
j
(
s
t
)
=
γ
(
s
t
)
,
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=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@6749@