RDP 2005-09: The US Current Account Deficit: A Re-Examination of the Role of Private Saving
Equation (27)
C
0
+
R
1
−
1
C
1
+
R
1
−
1
R
2
−
1
C
2
+
…
=
Y
0
+
R
1
−
1
Y
1
+
R
1
−
1
R
2
−
1
Y
2
+
…
+
R
0
B
0
.
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