RDP 2013-14: Reserves of Natural Resources in a Small Open Economy
Equation
V
(
k
t
)
=
max
i
t
r
,
d
t
,
x
t
{
S
t
P
t
r
x
t
−
W
t
r
A
t
r
x
t
1
+
ζ
k
t
−
μ
−
S
t
P
t
*
i
t
r
−
C
(
d
t
)
+
β
E
t
(
r
t
+
1
V
(
k
t
+
1
)
)
}
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