RDP 2015-11: Unprecedented Changes in the Terms of Trade: Online Appendix Equation (57)

0 = T t I + Q X , t V t [ 1 ϒ ( I x , t J X , t 1 ) ϒ ( I x , t J X , t 1 ) J X , t J X , t 1 ] + E T { β Λ t + 1 Q X , t + 1 V t + 1 Λ t ϒ ( J X , t + 1 J X , t ) J X , t + 1 2 J X , t 2 } MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaaGimaiabg2 da9iabgkHiTiaadsfadaqhaaWcbaGaamiDaaqaaiaadMeaaaGccqGH RaWkcaWGrbWaaSbaaSqaaiaadIfacaGGSaGaamiDaaqabaGccaWGwb WaaSbaaSqaaiaadshaaeqaaOWaamWaaeaacaaIXaGaeyOeI0IaeuO0 de6aaeWaaeaadaWcaaqaaiaadMeadaWgaaWcbaGaamiEaiaacYcaca WG0baabeaaaOqaaiaadQeadaWgaaWcbaGaamiwaiaacYcacaWG0bGa eyOeI0IaaGymaaqabaaaaaGccaGLOaGaayzkaaGaeyOeI0IafuO0de QbauaadaqadaqaamaalaaabaGaamysamaaBaaaleaacaWG4bGaaiil aiaadshaaeqaaaGcbaGaamOsamaaBaaaleaacaWGybGaaiilaiaads hacqGHsislcaaIXaaabeaaaaaakiaawIcacaGLPaaadaWcaaqaaiaa dQeadaWgaaWcbaGaamiwaiaacYcacaWG0baabeaaaOqaaiaadQeada WgaaWcbaGaamiwaiaacYcacaWG0bGaeyOeI0IaaGymaaqabaaaaaGc caGLBbGaayzxaaGaey4kaSIaamyramaaBaaaleaacaWGubaabeaakm aacmaabaGaeqOSdi2aaSaaaeaacqqHBoatdaWgaaWcbaGaamiDaiab gUcaRiaaigdaaeqaaOGaamyuamaaBaaaleaacaWGybGaaiilaiaads hacqGHRaWkcaaIXaaabeaakiaadAfadaWgaaWcbaGaamiDaiabgUca RiaaigdaaeqaaaGcbaGaeu4MdW0aaSbaaSqaaiaadshaaeqaaaaaki qbfk9aHAaafaWaaeWaaeaadaWcaaqaaiaadQeadaWgaaWcbaGaamiw aiaacYcacaWG0bGaey4kaSIaaGymaaqabaaakeaacaWGkbWaaSbaaS qaaiaadIfacaGGSaGaamiDaaqabaaaaaGccaGLOaGaayzkaaWaaSaa aeaacaWGkbWaa0baaSqaaiaadIfacaGGSaGaamiDaiabgUcaRiaaig daaeaacaaIYaaaaaGcbaGaamOsamaaDaaaleaacaWGybGaaiilaiaa dshaaeaacaaIYaaaaaaaaOGaay5Eaiaaw2haaaaa@9535@