RDP 2005-09: The US Current Account Deficit: A Re-Examination of the Role of Private Saving
Equation (19)
(
1
+
β
+
β
2
+
…
)
η
0
=
R
0
B
0
Y
0
W
+
γ
0
+
[
β
η
0
+
β
*
(
1
−
η
0
)
]
γ
1
+
[
β
2
η
0
+
(
β
*
)
2
(
1
−
η
0
)
]
γ
2
+
…
.
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