RDP 2013-10: Stochastic Terms of Trade Volatility in Small Open Economies
Equation (10)
C
t
T
=
ω
t
(
P
t
T
P
t
)
−
ϑ
C
t
;
C
t
N
T
=
(
1
−
ω
T
)
(
P
t
N
T
P
t
)
−
ϑ
C
t
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