RDP 2013-08: International Business Cycles with Complete Markets
Equation
Λ
1
t
=
(
c
1
t
−
b
c
1
t
−
1
−
χ
n
1
t
1
+
η
1
+
η
)
−
σ
−
b
β
E
t
[
(
c
1
t
+
1
−
b
c
1
t
−
χ
n
1
t
+
1
1
+
η
1
+
η
)
−
σ
]
.
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