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RDP 2018-04: DSGE Reno: Adding a Housing Block to a Small Open Economy Model
Equation (1)
E
0
∑
t
=
0
∞
β
t
{
ζ
C
,
t
ln
(
C
(
i
)
t
−
b
C
(
i
)
t
−
1
)
+
A
d
ζ
K
d
,
t
ln
(
K
(
i
)
d
,
t
−
b
d
K
(
i
)
d
,
t
−
1
)
−
A
H
ζ
H
,
t
H
(
i
)
t
1
+
η
1
+
η
}
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=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@85CC@