In Santa Barbara, Private Investment is 30 percent of GDP, and Private Saving is 25 percent of GDP. The Government is running a 4 percent fiscal surplus. We are therefore expecting a current account balance of: (1) 1 percent, (11) 7 percent, (iii) zero percent, (iv) negative 1 percent, (v) negative 7 percent.
Looking at the national accounts for GDP, would you describe what has happened to the labor income share over time? Is there a way to account for these trends?
