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RDP 2007-02: Current Account Defi cits: The Australian Debate
Equation (A11)
C
A
^
t
S
=
−
[
1
0
]
(
1
1
+
r
Ψ
)
(
I
−
1
1
+
r
ψ
)
−
1
[
Δ
Z
t
C
A
t
S
]
≡
[
Φ
Δ
Ζ
Φ
C
A
]
[
Δ
Ζ
t
C
A
t
S
]
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