RDP 2013-08: International Business Cycles with Complete Markets
Equation
(
c
1
t
−
b
c
1
t
−
1
−
χ
n
1
t
1
+
η
1
+
η
)
−
σ
=
Λ
1
t
+
b
β
E
t
[
(
c
1
t
+
1
−
b
c
1
t
−
χ
n
1
t
+
1
1
+
η
1
+
η
)
−
σ
]
=
Ψ
(
ω
3
;
x
t
)
+
b
β
Ψ
(
ω
1
;
x
t
)
.
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGceiabbeaamAraam aabmaabaGaam4yamaaBaaaleaacaaIXaGaamiDaaqabaGccqGHsisl caWGIbGaam4yamaaBaaaleaacaaIXaGaamiDaiabgkHiTiaaigdaae qaaOGaeyOeI0Iaeq4Xdm2aaSaaaeaacaWGUbWaa0baaSqaaiaaigda caWG0baabaGaaGymaiabgUcaRiabeE7aObaaaOqaaiaaigdacqGHRa WkcqaH3oaAaaaacaGLOaGaayzkaaWaaWbaaSqabeaacqGHsislcqaH dpWCaaGccqGH9aqpcqqHBoatdaWgaaWcbaGaaGymaiaadshaaeqaaO Gaey4kaSIaamOyaiabek7aIjaadweadaWgaaWcbaGaamiDaaqabaGc daWadaqaamaabmaabaGaam4yamaaBaaaleaacaaIXaGaamiDaiabgU caRiaaigdaaeqaaOGaeyOeI0IaamOyaiaadogadaWgaaWcbaGaaGym aiaadshaaeqaaOGaeyOeI0Iaeq4Xdm2aaSaaaeaacaWGUbWaa0baaS qaaiaaigdacaWG0bGaey4kaSIaaGymaaqaaiaaigdacqGHRaWkcqaH 3oaAaaaakeaacaaIXaGaey4kaSIaeq4TdGgaaaGaayjkaiaawMcaam aaCaaaleqabaGaeyOeI0Iaeq4WdmhaaaGccaGLBbGaayzxaaaabaGa eyypa0JaeuiQdK1aaeWaaeaacqaHjpWDdaWgaaWcbaGaaG4maaqaba acbaGccaWF7aacbeGaa4hEamaaBaaaleaacaWG0baabeaaaOGaayjk aiaawMcaaiabgUcaRiaadkgacqaHYoGycqqHOoqwdaqadaqaaiabeM 8a3naaBaaaleaacaaIXaaabeaakiaa=TdacaGF4bWaaSbaaSqaaiaa dshaaeqaaaGccaGLOaGaayzkaaGaaiOlaaaaaa@8E02@