RDP 2005-09: The US Current Account Deficit: A Re-Examination of the Role of Private Saving
Equation (18)
η
t
≡
P
t
C
t
Y
t
W
=
β
P
t
−
1
C
t
−
1
R
t
Y
t
W
=
β
η
t
−
1
β
η
t
−
1
+
β
*
(
1
−
η
t
−
1
)
.
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaeq4TdG2aaS baaSqaaiaadshaaeqaaOGaeyyyIO7aaSaaaeaacaWGqbWaaSbaaSqa aiaadshaaeqaaOGaam4qamaaBaaaleaacaWG0baabeaaaOqaaiaadM fadaqhaaWcbaGaamiDaaqaaiaadEfaaaaaaOGaeyypa0ZaaSaaaeaa cqaHYoGycaWGqbWaaSbaaSqaaiaadshaiiaacqWFsislcaaIXaaabe aakiaadoeadaWgaaWcbaGaamiDaiab=jHiTiaaigdaaeqaaOGaamOu amaaBaaaleaacaWG0baabeaaaOqaaiaadMfadaqhaaWcbaGaamiDaa qaaiaadEfaaaaaaOGaeyypa0ZaaSaaaeaacqaHYoGycqaH3oaAdaWg aaWcbaGaamiDaiab=jHiTiaaigdaaeqaaaGcbaGaeqOSdiMaeq4TdG 2aaSbaaSqaaiaadshacqWFsislcaaIXaaabeaakiabgUcaRiabek7a InaaCaaaleqabaGaaiOkaaaakmaabmaabaGaaGymaiab=jHiTiabeE 7aOnaaBaaaleaacaWG0bGae8NeI0IaaGymaaqabaaakiaawIcacaGL PaaaaaGaaiOlaaaa@698D@