RDP 2013-09: Terms of Trade Shocks and Incomplete Information
Equation (17)
β
E
t
{
λ
t
+
1
[
1
−
δ
+
R
t
+
1
K
]
}
=
λ
t
(
1
+
ϕ
(
K
t
+
1
K
t
−
μ
)
)
+
β
E
t
{
λ
t
+
1
[
ϕ
2
(
K
t
+
2
K
t
+
1
−
μ
)
2
−
ϕ
K
t
+
2
K
t
+
1
(
K
t
+
2
K
t
+
1
−
μ
)
]
}
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