RDP 2013-08: International Business Cycles with Complete Markets
Equation (1)
U
=
∑
t
=
0
∞
β
t
∑
s
t
∈
S
t
π
(
s
t
)
u
(
c
j
(
s
t
)
,
h
j
(
s
t
−
1
)
,
n
j
(
s
t
)
)
,
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