RDP 2013-08: International Business Cycles with Complete Markets
Equation
[
log
(
z
1
(
s
t
)
)
log
(
z
2
(
s
t
)
)
]
=
[
0.95
0
0
0.95
]
[
log
(
z
1
(
s
t
−
1
)
)
log
(
z
2
(
s
t
−
1
)
)
]
+
[
ε
1
(
s
t
)
ε
2
(
s
t
)
]
.
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