RDP 2013-08: International Business Cycles with Complete Markets
Equation
Λ
(
s
t
)
=
(
c
(
s
t
)
-
b
c
(
s
t
−
1
)
−
χ
n
(
s
t
)
1
+
η
1
+
η
)
−
σ
−
b
β
∑
s
t
+
1
∈
s
π
(
s
t
+
1
|
s
t
)
(
c
(
s
t
,
s
t
+
1
)
-
b
c
(
s
t
)
−
χ
n
(
s
t
s
t
+
1
)
1
+
η
1
+
η
)
−
σ
.
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGceiqabeaamAraai abfU5amnaabmaabaGaam4CamaaCaaaleqabaGaamiDaaaaaOGaayjk aiaawMcaaiabg2da9maabmaabaGaam4yamaabmaabaGaam4CamaaCa aaleqabaGaamiDaaaaaOGaayjkaiaawMcaaGqaciaa=1cacaWFIbGa a83yamaabmaabaGaam4CamaaCaaaleqabaGaamiDaiabgkHiTiaaig daaaaakiaawIcacaGLPaaacqGHsislcqaHhpWydaWcaaqaaiaad6ga daqadaqaaiaadohadaahaaWcbeqaaiaadshaaaaakiaawIcacaGLPa aadaahaaWcbeqaaiaaigdacqGHRaWkcqaH3oaAaaaakeaacaaIXaGa ey4kaSIaeq4TdGgaaaGaayjkaiaawMcaamaaCaaaleqabaGaeyOeI0 Iaeq4WdmhaaaGcbaGaeyOeI0IaamOyaiabek7aInaaqafabaGaeqiW dahaleaacaWGZbWaaSbaaWqaaiaadshacqGHRaWkcaaIXaaabeaaii aaliab+HGiolaadohaaeqaniabggHiLdGcdaqadaqaaiaadohadaWg aaWcbaGaamiDaiabgUcaRiaaigdaaeqaaOGae4hFaWNaa83CamaaCa aaleqabaGaamiDaaaaaOGaayjkaiaawMcaamaabmaabaGaam4yamaa bmaabaGaam4CamaaCaaaleqabaGaamiDaaaakiaacYcacaGGZbWaaS baaSqaaiaadshacqGHRaWkcaaIXaaabeaaaOGaayjkaiaawMcaaiaa =1cacaWFIbGaa83yamaabmaabaGaam4CamaaCaaaleqabaGaamiDaa aaaOGaayjkaiaawMcaaiabgkHiTiabeE8aJnaalaaabaGaamOBamaa bmaabaGaam4CamaaCaaaleqabaGaamiDaaaakiaadohadaWgaaWcba GaamiDaiabgUcaRiaaigdaaeqaaaGccaGLOaGaayzkaaWaaWbaaSqa beaacaaIXaGaey4kaSIaeq4TdGgaaaGcbaGaaGymaiabgUcaRiabeE 7aObaaaiaawIcacaGLPaaadaahaaWcbeqaaiabgkHiTiabeo8aZbaa kiaac6caaaaa@989A@