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RDP 2015-11: Unprecedented Changes in the Terms of Trade
Equation (A7)
R
t
F
=
R
t
*
exp
[
−
ψ
b
(
S
t
B
t
*
N
G
D
P
t
−
b
*
)
+
ψ
˜
b
,
t
]
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