RDP 2015-11: Unprecedented Changes in the Terms of Trade: Online Appendix Equation (73)

0 = Π H , t Π H ( Π H , t Π H − 1 ) + θ H − 1 ψ − θ H ψ M C H , t − E t { β Λ t + 1 Λ t Y H , t + 1 Y H , t T H , t + 1 T H , t Π H , t + 1 Π H [ Π H , t + 1 Π H − 1 ] } MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaaGimaiabg2 da9maalaaabaGaeuiOda1aaSbaaSqaaiaadIeacaGGSaGaamiDaaqa baaakeaacqqHGoaudaahaaWcbeqaaiaadIeaaaaaaOWaaeWaaeaada Wcaaqaaiabfc6aqnaaBaaaleaacaWGibGaaiilaiaadshaaeqaaaGc baGaeuiOda1aaWbaaSqabeaacaWGibaaaaaakiabgkHiTiaaigdaai aawIcacaGLPaaacqGHRaWkdaWcaaqaaiabeI7aXnaaBaaaleaacaWG ibaabeaakiabgkHiTiaaigdaaeaacqaHipqEaaGaeyOeI0YaaSaaae aacqaH4oqCdaWgaaWcbaGaamisaaqabaaakeaacqaHipqEaaGaamyt aiaadoeadaWgaaWcbaGaamisaiaacYcacaWG0baabeaakiabgkHiTi aadweadaWgaaWcbaGaamiDaaqabaGcdaGadaqaaiabek7aInaalaaa baGaeu4MdW0aaSbaaSqaaiaadshacqGHRaWkcaaIXaaabeaaaOqaai abfU5amnaaBaaaleaacaWG0baabeaaaaGcdaWcaaqaaiaadMfadaWg aaWcbaGaamisaiaacYcacaWG0bGaey4kaSIaaGymaaqabaaakeaaca WGzbWaaSbaaSqaaiaadIeacaGGSaGaamiDaaqabaaaaOWaaSaaaeaa caWGubWaaSbaaSqaaiaadIeacaGGSaGaamiDaiabgUcaRiaaigdaae qaaaGcbaGaamivamaaBaaaleaacaWGibGaaiilaiaadshaaeqaaaaa kmaalaaabaGaeuiOda1aaSbaaSqaaiaadIeacaGGSaGaamiDaiabgU caRiaaigdaaeqaaaGcbaGaeuiOda1aaWbaaSqabeaacaWGibaaaaaa kmaadmaabaWaaSaaaeaacqqHGoaudaWgaaWcbaGaamisaiaacYcaca WG0bGaey4kaSIaaGymaaqabaaakeaacqqHGoaudaahaaWcbeqaaiaa dIeaaaaaaOGaeyOeI0IaaGymaaGaay5waiaaw2faaaGaay5Eaiaaw2 haaaaa@8CBB@