RDP 2005-09: The US Current Account Deficit: A Re-Examination of the Role of Private Saving
Equation (1)
P
0
C
0
+
P
1
C
1
R
1
+
P
2
C
2
R
1
R
2
+
…
=
R
0
B
0
+
Y
0
V
+
Y
1
V
R
1
+
Y
2
V
R
1
R
2
+
…
.
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