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RDP 2015-11: Unprecedented Changes in the Terms of Trade: Online Appendix
Equation (113)
0
=
m
c
N
,
t
−
(
1
1
−
α
N
)
1
−
α
N
(
1
α
N
)
α
N
w
N
,
t
1
−
α
N
r
N
,
t
K
α
N
τ
N
,
t
Z
˜
N
,
t
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