RDP 2015-11: Unprecedented Changes in the Terms of Trade: Online Appendix Equation (135)

0 = b t + 1 * − b t * τ t * g d p t − 1 π t g d p t z t − n x t MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaaGimaiabg2 da9iaadkgadaqhaaWcbaGaamiDaiabgUcaRiaaigdaaeaacaGGQaaa aOGaeyOeI0YaaSaaaeaacaWGIbWaa0baaSqaaiaadshaaeaacaGGQa aaaOGaeqiXdq3aa0baaSqaaiaadshaaeaacaGGQaaaaOGaam4zaiaa dsgacaWGWbWaaSbaaSqaaiaadshacqGHsislcaaIXaaabeaaaOqaai abec8aWnaaBaaaleaacaWG0baabeaakiaadEgacaWGKbGaamiCamaa BaaaleaacaWG0baabeaakiaadQhadaWgaaWcbaGaamiDaaqabaaaaO GaeyOeI0IaamOBaiaadIhadaWgaaWcbaGaamiDaaqabaaaaa@5633@