RDP 2013-14: Reserves of Natural Resources in a Small Open Economy
Equation (D64)
P
˜
t
o
P
t
c
=
(
(
1
−
ϕ
o
)
(
P
¯
t
o
P
t
c
)
−
θ
o
+
ϕ
o
(
P
˜
t
−
1
o
P
t
−
1
c
P
t
−
1
c
P
t
c
)
−
θ
o
)
−
1
θ
o
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