RDP 2013-14: Reserves of Natural Resources in a Small Open Economy
Equation
V
(
K
t
,
R
t
)
=
max
I
t
(
j
)
,
D
t
(
j
)
,
X
t
(
j
)
{
[
S
t
P
t
r
*
X
t
−
W
r
r
(
X
t
1
+
ζ
K
t
−
μ
R
t
μ
−
ζ
)
−
S
t
P
t
*
I
t
−
C
(
D
t
,
R
˜
t
)
]
+
β
∫
V
(
K
t
+
1
,
R
t
+
1
)
d
Φ
(
ξ
t
+
1
|
ξ
t
)
}
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGceaqabeaacaWGwb WaaeWaaeaacaWGlbWaaSbaaSqaaiaadshaaeqaaOGaaiilaiaadkfa daWgaaWcbaGaamiDaaqabaaakiaawIcacaGLPaaacqGH9aqpdaWfqa qaaiGac2gacaGGHbGaaiiEaaWcbaGaamysamaaBaaameaacaWG0baa beaalmaabmaabaGaamOAaaGaayjkaiaawMcaaiaacYcacaWGebWaaS baaWqaaiaadshaaeqaaSWaaeWaaeaacaWGQbaacaGLOaGaayzkaaGa aiilaiaadIfadaWgaaadbaGaamiDaaqabaWcdaqadaqaaiaadQgaai aawIcacaGLPaaaaeqaaOGaai4Eamaadmaabaqbaeqabiqaaaqaaiaa dofadaWgaaWcbaGaamiDaaqabaGccaWGqbWaa0baaSqaaiaadshaae aacaWGYbWaaWbaaWqabeaacaGGQaaaaaaakiaadIfadaWgaaWcbaGa amiDaaqabaGccqGHsislcaWGxbWaa0baaSqaaiaadkhaaeaacaWGYb aaaOWaaeWaaeaacaWGybWaa0baaSqaaiaadshaaeaacaaIXaGaey4k aSIaeqOTdOhaaOGaam4samaaDaaaleaacaWG0baabaGaeyOeI0Iaeq iVd0gaaOGaamOuamaaDaaaleaacaWG0baabaGaeqiVd0MaeyOeI0Ia eqOTdOhaaaGccaGLOaGaayzkaaaabaGaeyOeI0Iaam4uamaaBaaale aacaWG0baabeaakiaadcfadaqhaaWcbaGaamiDaaqaaiaacQcaaaGc caWGjbWaaSbaaSqaaiaadshaaeqaaOGaeyOeI0Iaam4qamaabmaaba GaamiramaaBaaaleaacaWG0baabeaakiaacYcadaaiaaqaaiaadkfa aiaawoWaamaaBaaaleaacaWG0baabeaaaOGaayjkaiaawMcaaaaaai aawUfacaGLDbaaaeaacqGHRaWkcqaHYoGydaWdbaqaaiaadAfadaqa daqaaiaadUeadaWgaaWcbaGaamiDaiabgUcaRiaaigdaaeqaaOGaai ilaiaadkfadaWgaaWcbaGaamiDaiabgUcaRiaaigdaaeqaaaGccaGL OaGaayzkaaGaamizaiabfA6agnaabmaabaGaeqOVdG3aaSbaaSqaai aadshacqGHRaWkcaaIXaaabeaakiaacYhacqaH+oaEdaWgaaWcbaGa amiDaaqabaaakiaawIcacaGLPaaaaSqabeqaniabgUIiYdGccaGG9b aaaaa@9D6E@