RDP 2013-08: International Business Cycles with Complete Markets
Equation (B16)
Λ
j
(
s
t
)
=
β
∑
s
t
+
1
∈
S
π
(
s
t
+
1
|
s
t
)
Λ
j
(
s
t
,
s
t
+
1
)
R
j
(
s
t
,
s
t
+
1
)
,
for
j
∈
J
,
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=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HGiolaadQeacaGGSaaaaa@701D@