RDP 2013-14: Reserves of Natural Resources in a Small Open Economy Equation

S t P t r * = ( 1 + ζ ) W r r x t ζ k t − μ Q t R S t P t * = Q t K ∂ C ∂ D t = Q t R k t + 1 r t = ( 1 − δ ) k t + i t r t = 1 + ω t + 1 d t − x t Q t R = β E t ( ( ζ − μ ) W t + 1 m x t + 1 1 + ζ k t + 1 − μ + Q t + 1 R ) Q t K = β E t ( μ W r r x t 1 + ζ k t − μ − 1 + Q t + 1 K ( 1 − δ ) ) MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaqbaeqabCqaaa aabaGaam4uamaaBaaaleaacaWG0baabeaakiaadcfadaqhaaWcbaGa amiDaaqaaiaadkhadaahaaadbeqaaiaacQcaaaaaaOGaeyypa0Zaae WaaeaacaaIXaGaey4kaSIaeqOTdOhacaGLOaGaayzkaaGaam4vamaa DaaaleaacaWGYbaabaGaamOCaaaakiaadIhadaqhaaWcbaGaamiDaa qaaiabeA7a6baakiaadUgadaqhaaWcbaGaamiDaaqaaiabgkHiTiab eY7aTbaakiaadgfadaqhaaWcbaGaamiDaaqaaiaadkfaaaaakeaaca WGtbWaaSbaaSqaaiaadshaaeqaaOGaamiuamaaDaaaleaacaWG0baa baGaaiOkaaaakiabg2da9iaadgfadaqhaaWcbaGaamiDaaqaaiaadU eaaaaakeaadaWcaaqaaiabgkGi2kaadoeaaeaacqGHciITcaWGebWa aSbaaSqaaiaadshaaeqaaaaakiabg2da9iaadgfadaqhaaWcbaGaam iDaaqaaiaadkfaaaaakeaacaWGRbWaaSbaaSqaaiaadshacqGHRaWk caaIXaaabeaakiaadkhadaWgaaWcbaGaamiDaaqabaGccqGH9aqpda qadaqaaiaaigdacqGHsislcqaH0oazaiaawIcacaGLPaaacaWGRbWa aSbaaSqaaiaadshaaeqaaOGaey4kaSIaamyAamaaBaaaleaacaWG0b aabeaaaOqaaiaadkhadaWgaaWcbaGaamiDaaqabaGccqGH9aqpcaaI XaGaey4kaSIaeqyYdC3aaSbaaSqaaiaadshacqGHRaWkcaaIXaaabe aakiaadsgadaWgaaWcbaGaamiDaaqabaGccqGHsislcaWG4bWaaSba aSqaaiaadshaaeqaaaGcbaGaamyuamaaDaaaleaacaWG0baabaGaam Ouaaaakiabg2da9iabek7aIjaadweadaWgaaWcbaGaamiDaaqabaGc daqadaqaamaabmaabaGaeqOTdONaeyOeI0IaeqiVd0gacaGLOaGaay zkaaGaam4vamaaDaaaleaacaWG0bGaey4kaSIaaGymaaqaaiaad2ga aaGccaWG4bWaa0baaSqaaiaadshacqGHRaWkcaaIXaaabaGaaGymai abgUcaRiabeA7a6baakiaadUgadaqhaaWcbaGaamiDaiabgUcaRiaa igdaaeaacqGHsislcqaH8oqBaaGccqGHRaWkcaWGrbWaa0baaSqaai aadshacqGHRaWkcaaIXaaabaGaamOuaaaaaOGaayjkaiaawMcaaaqa aiaadgfadaqhaaWcbaGaamiDaaqaaiaadUeaaaGccqGH9aqpcqaHYo GycaWGfbWaaSbaaSqaaiaadshaaeqaaOWaaeWaaeaacqaH8oqBcaWG xbWaa0baaSqaaiaadkhaaeaacaWGYbaaaOGaamiEamaaDaaaleaaca WG0baabaGaaGymaiabgUcaRiabeA7a6baakiaadUgadaqhaaWcbaGa amiDaaqaaiabgkHiTiabeY7aTjabgkHiTiaaigdaaaGccqGHRaWkca WGrbWaa0baaSqaaiaadshacqGHRaWkcaaIXaaabaGaam4saaaakmaa bmaabaGaaGymaiabgkHiTiabes7aKbGaayjkaiaawMcaaaGaayjkai aawMcaaaaaaaa@CC21@