RDP 2013-09: Terms of Trade Shocks and Incomplete Information
Equation (25)
[
z
t
z
t
−
1
g
t
]
︸
X
t
=
[
ρ
z
0
0
1
0
0
0
0
ρ
g
]
︸
A
[
z
t
−
1
z
t
−
2
g
t
−
1
]
︸
X
t
−
1
+
[
1
0
0
0
0
0
0
1
0
]
︸
B
[
ε
t
z
ε
t
g
ε
t
h
]
︸
U
t
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