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Can a three-period economy run a perpetual trade balance defcit? Can it run a perpetual current account defcit? To address these questions, derive step by

Can athree-periodeconomy run a perpetual trade balance defcit? Can it run a perpetual current account defcit? To address these questions, derive step by step adaptations of equations (2.4) and (2.5) of the textbook to a three-period horizon.

text book link: http://www.columbia.edu/~mu2166/UIM/suw.pdf

page 65-71

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