I'm trying to align a long equation like in the picture below

enter image description here

here is the code i used and my output

\Biggl[\biggl(1-\frac{1}{1+p^{z}_{t+s}}\biggr) \biggl( \frac{P^{\circ}_{t+s\textbar{t}}(j)}{\Pi^{\theta}_{t-1+s}\smash{\overline{\mathstrut\Pi}}^{1-\theta}_{\phantom{1}} P_{t-1+s}}\Biggr)^{-\frac{\sst 1}{\sst 1+p^{z}_{t+s}}}
&\quad-\mathcal{MC}_{t+s}(j)\biggl(-\frac{1}{1+p^{z}_{t+s}}\biggr) {\biggl( \frac{P^{\circ}_{t+s\textbar{t}}(j)}{\Pi^{\theta}_{t-1+s}\smash{\overline{\mathstrut\Pi}}^{1-\theta}_{\phantom{1}} P_{t-1+s}}}\Biggr)^{-1} \biggl( \frac{P^{\circ}_{t+s\textbar{t}}(j)}{\Pi^{\theta}_{t-1+s} \smash{\overline{\mathstrut\Pi}}^{1-\theta}_{\phantom{1}} P_{t-1+s}}\Biggr)^{-\frac{\sst 1}{\sst 1+p^{z}_{t+s}}} \biggl( \frac{1}{\Pi^{\theta}_{t-1+s} \smash{\overline{\mathstrut\Pi}}^{1-\theta}_{\phantom{1}} P_{t-1+s}}\Biggr)\biggr]Y_{t+s\textbar{t}}

my output

enter image description here

  • please fix your example so it is a complete document (then you can check it does not generate errors such as) ! Undefined control sequence. <argument> \sst Dec 6 '16 at 17:33
  • Please write \mid t instead of \textbar{t}.
    – Mico
    Dec 6 '16 at 19:03

Here's a solution that splits the long factor across three rows.

enter image description here

\usepackage{amsmath}        % for "split" environment
\newcommand\1{\vphantom{1}} % a strut with the height of "1"
   \biggl( \frac{P^{\circ}_{t+s\mid t}(j)}{\Pi^{\theta}_{t-1+s} \bar{\Pi}_{\1}^{1-\theta} P^{}_{t-1+s}}\biggr)^{-\frac{1}{1+p^{z}_{t+s}}} \\
   &-\mathcal{MC}_{t+s}(j) \biggl(-\frac{1}{1+p^{z}_{t+s}}\biggr) 
   \biggl( \frac{P^{\circ}_{t+s\mid t}(j)}{\Pi^{\theta}_{t-1+s} \bar{\Pi}_{\1}^{1-\theta} P^{}_{t-1+s}}\biggr)^{\!-1} \\
   \biggl( \frac{P^{\circ}_{t+s\mid t}(j)}{\Pi^{\theta}_{t-1+s} \bar{\Pi}_{\1}^{1-\theta} P^{}_{t-1+s}}\biggr)^{-\frac{1}{1+p^{z}_{t+s}}} 
   \biggl( \frac{1}{\Pi^{\theta}_{t-1+s} \bar{\Pi}_{\1}^{1-\theta} P^{}_{t-1+s}}\biggr)
   \Biggr] Y_{t+s\mid t} 
   = \dots

I would rewrite your equation, for example in the following form:

enter image description here



\left[(1-A)\left(\frac{B}{C}\right)^{-A} - 
\right]Y_{t+s|t} =
where are:
A & = \frac{1}{1+p^{z}_{t+s}}       \\
B & = P^{\circ}_{t+s|t}(j) \\
C & = \Pi^{\theta}_{t-1+s}\overline{\Pi}^{1-\theta}_{} P_{t-1+s}


To my opinion the equation is more clear and easier to read.

Edit: in the first version of the answer was misplaced A, now is also simplified definition of C.

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