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RDP 2015-11: Unprecedented Changes in the Terms of Trade: Online Appendix
Equation
I
t
=
(
1
+
z
υ
)
t
I
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t
γ
T
I
I
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I
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γ
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I
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N
I
γ
N
I
T
,
t
=
I
H
,
t
γ
H
I
I
F
,
t
γ
F
I
γ
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I
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H
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F
I
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