RDP 2005-09: The US Current Account Deficit: A Re-Examination of the Role of Private Saving
Equation (52)
Q
t
=
(
(
A
F
t
∗
/
A
N
t
∗
)
(
A
H
t
/
A
N
t
)
)
δ
(
1
P
H
t
)
δ
(
P
T
t
∗
P
T
t
)
1
−
δ
.
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