RDP 2013-10: Stochastic Terms of Trade Volatility in Small Open Economies
Equation (31)
e
q
t
Y
t
H
=
(
1
+
r
)
d
t
−
d
t
+
1
+
P
t
T
C
t
T
+
I
t
N
T
+
I
t
H
+
ψ
2
(
d
t
+
1
−
d
)
2
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