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RDP 2015-11: Unprecedented Changes in the Terms of Trade: Online Appendix
Equation
∑
t
=
0
∞
χ
t
−
1
Λ
t
P
t
[
P
N
,
t
(
i
)
Y
N
,
t
(
i
)
−
M
C
N
,
t
P
t
Y
N
,
t
(
i
)
−
ψ
2
(
P
N
,
t
(
i
)
Π
N
P
N
,
t
(
i
)
−
1
)
2
P
N
,
t
Y
N
,
t
]
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