RDP 2018-04: DSGE Reno: Adding a Housing Block to a Small Open Economy Model
Equation (2)
P
t
∑
j
=
n
,
m
,
z
,
d
I
(
i
)
j
,
t
+
B
(
i
)
t
R
t
+
B
(
i
)
t
*
S
t
R
t
*
ψ
t
+
C
(
i
)
t
P
t
≤
∑
j
=
n
,
m
,
z
,
d
(
h
(
i
)
j
,
t
W
(
i
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j
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+
K
(
i
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j
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t
R
j
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t
)
+
L
(
i
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R
l
,
t
+
B
(
i
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t
−
1
+
B
(
i
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t
−
1
*
S
t
+
Δ
(
i
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−
T
(
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t
−
∑
j
=
n
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m
,
z
,
d
h
j
,
t
W
j
,
t
τ
w
j
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W
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j
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j
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−
1
∏
w
,
j
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t
−
1
χ
j
(
∏
w
,
j
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s
s
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1
−
χ
j
−
1
)
2
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