RDP 2013-09: Terms of Trade Shocks and Incomplete Information Equation (B11)

c ˜ t + ϕ μ k ˜ t = E t { c ˜ t + 1 } + ( 1 + ϕ μ ) m t − ( 1 − η − 1 + ϕ η 1 − α ) Δ s t − β α Y ^ μ K ^ E t { y ˜ t + 1 } + ( 1 − η − β ϕ μ 1 − α − β α Y ¯ μ K ¯ ) E t { Δ s t + 1 } + ( ϕ μ ( 1 + β ) + β α Y ¯ μ K ¯ ) k ˜ t + 1 − β ϕ μ E t { k ˜ t + 2 } − β ϕ μ E t { m t + 1 } MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGceaabbeaaceWGJb GbaGaadaWgaaWcbaGaamiDaaqabaGccqGHRaWkcqaHvpGzcqaH8oqB ceWGRbGbaGaadaWgaaWcbaGaamiDaaqabaGccqGH9aqpcaWGfbWaaS baaSqaaiaadshaaeqaaOWaaiWaaeaaceWGJbGbaGaadaWgaaWcbaGa amiDaiabgUcaRiaaigdaaeqaaaGccaGL7bGaayzFaaGaey4kaSYaae WaaeaacaaIXaGaey4kaSIaeqy1dyMaeqiVd0gacaGLOaGaayzkaaGa amyBamaaBaaaleaacaWG0baabeaakiabgkHiTmaabmaabaGaaGymai abgkHiTiabeE7aOjabgkHiTmaalaaabaGaaGymaiabgUcaRiabew9a MjabeE7aObqaaiaaigdacqGHsislcqaHXoqyaaaacaGLOaGaayzkaa GaeuiLdqKaam4CamaaBaaaleaacaWG0baabeaaaOqaaiabgkHiTmaa laaabaGaeqOSdiMaeqySdeMabmywayaajaaabaGaeqiVd0Mabm4say aajaaaaiaadweadaWgaaWcbaGaamiDaaqabaGcdaGadaqaaiqadMha gaacamaaBaaaleaacaWG0bGaey4kaSIaaGymaaqabaaakiaawUhaca GL9baacqGHRaWkdaqadaqaaiaaigdacqGHsislcqaH3oaAcqGHsisl daWcaaqaaiabek7aIjabew9aMjabeY7aTbqaaiaaigdacqGHsislcq aHXoqyaaGaeyOeI0YaaSaaaeaacqaHYoGycqaHXoqyceWGzbGbaeba aeaacqaH8oqBceWGlbGbaebaaaaacaGLOaGaayzkaaGaamyramaaBa aaleaacaWG0baabeaakmaacmaabaGaeuiLdqKaam4CamaaBaaaleaa caWG0bGaey4kaSIaaGymaaqabaaakiaawUhacaGL9baaaeaacqGHRa Wkdaqadaqaaiabew9aMjabeY7aTnaabmaabaGaaGymaiabgUcaRiab ek7aIbGaayjkaiaawMcaaiabgUcaRmaalaaabaGaeqOSdiMaeqySde MabmywayaaraaabaGaeqiVd0Mabm4sayaaraaaaaGaayjkaiaawMca aiqadUgagaacamaaBaaaleaacaWG0bGaey4kaSIaaGymaaqabaGccq GHsislcqaHYoGycqaHvpGzcqaH8oqBcaWGfbWaaSbaaSqaaiaadsha aeqaaOWaaiWaaeaaceWGRbGbaGaadaWgaaWcbaGaamiDaiabgUcaRi aaikdaaeqaaaGccaGL7bGaayzFaaaabaGaeyOeI0IaeqOSdiMaeqy1 dyMaeqiVd0MaamyramaaBaaaleaacaWG0baabeaakmaacmaabaGaam yBamaaBaaaleaacaWG0bGaey4kaSIaaGymaaqabaaakiaawUhacaGL 9baaaaaa@C63E@