RDP 2015-11: Unprecedented Changes in the Terms of Trade: Online Appendix
Equation (26)
Z
H
,
t
=
(
1
+
z
H
)
t
Z
˜
H
,
t
ln
(
Z
˜
H
,
t
)
=
ρ
H
ln
(
Z
˜
H
,
t
−
1
)
+
u
H
,
t
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