RDP 2013-10: Stochastic Terms of Trade Volatility in Small Open Economies
Equation (4)
U
0
=
E
0
∑
t
=
0
∞
β
t
(
C
t
1
−
σ
1
−
σ
−
L
t
1
+
ζ
1
+
ζ
)
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