RDP 2005-09: The US Current Account Deficit: A Re-Examination of the Role of Private Saving
Equation (21)
P
t
C
t
Y
t
W
=
(
1
−
β
˜
t
)
[
R
t
B
t
Y
t
W
+
γ
t
+
β
∗
γ
t
+
1
+
(
β
∗
)
2
γ
t
+
2
+
…
]
,
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