RDP 2005-09: The US Current Account Deficit: A Re-Examination of the Role of Private Saving
Equation (53)
C
A
t
Y
t
V
=
1
−
[
1
−
β
1
−
α
β
+
β
(
1
−
α
)
1
−
α
β
γ
¯
γ
t
]
.
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