RDP 2015-11: Unprecedented Changes in the Terms of Trade: Online Appendix 4 Steady State

Household optimisation:

and

Capital accumulation:

Inflation indicies:

Consumer demand:

Investment demand:

Production:

Tradeable firms:

Non-tradeable firms:

Commodity firms:

Importing firms

Law of one price:

Relative Prices:

Market clearing:

Miscellaneous equations: