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RDP 2013-14: Reserves of Natural Resources in a Small Open Economy
Equation
Φ
t
≡
exp
(
(
S
t
P
t
c
B
t
*
R
t
−
S
P
c
B
*
R
)
−
φ
b
(
ln
S
t
−
1
P
t
−
1
c
−
ln
P
t
−
1
r
P
r
)
−
φ
s
)
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