Skip to content
RDP 2013-10: Stochastic Terms of Trade Volatility in Small Open Economies
Equation (C1)
Π
t
=
1
T
p
(
q
t
|
q
t
−
1
;
Ψ
)
=
Π
t
=
1
T
∫
p
(
q
t
|
q
t
−
1
,
σ
q
,
t
;
Ψ
)
p
(
σ
q
,
t
|
q
t
−
1
;
Ψ
)
d
σ
q
,
t
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=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@7433@