Oct 28, 2020
Patricia and Christian talk to Dr Steven Hail about imports and exports, and the effect they have on a nation’s balance sheet, using the sectoral balance framework.
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Sectoral balance accounting identity: (G - T) = (S - I) + (M - X)
G = government spending
T= taxes paid back to government
S= private savings
I= private investment spending
M= exports
X= imports
Our Episode 64 with John T Harvey on exchange rates: https://www.patreon.com/posts/40518059
Our episode 65 with Phil Armstrong on inflation: https://www.patreon.com/posts/40672678
Bill Mitchell on the external sector: http://bilbo.economicoutlook.net/blog/?p=40433
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Transcript for opening monologue: https://www.patreon.com/posts/43048015
Show notes: https://www.patreon.com/posts/43043601