RDP 2015-11: Unprecedented Changes in the Terms of Trade: Online Appendix
Equation (72)
M
C
H
,
t
=
(
1
1
−
α
H
)
1
−
α
H
(
1
α
)
α
H
W
H
,
t
1
−
α
H
R
H
,
t
K
α
H
Z
H
,
t
Z
t
1
−
α
H
P
H
,
t
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