RDP 2013-14: Reserves of Natural Resources in a Small Open Economy
Equation
S
t
P
t
r
*
=
(
1
+
ζ
)
W
r
r
x
t
ζ
k
t
−
μ
Q
t
R
S
t
P
t
*
=
Q
t
K
∂
C
∂
D
t
=
Q
t
R
k
t
+
1
r
t
=
(
1
−
δ
)
k
t
+
i
t
r
t
=
1
+
ω
t
+
1
d
t
−
x
t
Q
t
R
=
β
E
t
(
(
ζ
−
μ
)
W
t
+
1
m
x
t
+
1
1
+
ζ
k
t
+
1
−
μ
+
Q
t
+
1
R
)
Q
t
K
=
β
E
t
(
μ
W
r
r
x
t
1
+
ζ
k
t
−
μ
−
1
+
Q
t
+
1
K
(
1
−
δ
)
)
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