RDP 2005-09: The US Current Account Deficit: A Re-Examination of the Role of Private Saving
Equation (15)
Y
t
+
1
W
=
Y
t
+
1
V
+
Y
t
+
1
*
V
=
P
t
+
1
C
t
+
1
+
P
t
+
1
*
C
t
+
1
*
=
R
t
+
1
(
β
P
t
C
t
+
β
*
P
t
*
C
t
*
)
=
R
t
+
1
(
β
η
t
+
β
*
(
1
−
η
t
)
)
Y
t
W
,
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