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In "Is Piketty's Second Law of capital fundamental?" by Per Krusell and Anthony A. Smith Jr the authors say, in a footnote:

Specifically, from the FRED database, we use series A023RX1A020NBEA on real gross national income, series W206RC1A156NBEA on gross saving as a percentage of gross national income, and series W207RC1A156NBEA on net saving as a percentage of gross national income. These series all come from the Bureau of Economic Analysis; with them, it is straightforward to construct a series for net saving as a percentage of net national income. (p737)

They say it is straightforward to construct a series for net saving as a percentage of net income. Can anyone explain how this series is constructed from the three given series?

The paper is available at http://www.jstor.org/stable/10.1086/682574 .

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  • $\begingroup$ "this should be very simple" -- What is this? "how it is done" -- What is it? $\endgroup$ – Herr K. Aug 9 at 23:05
  • $\begingroup$ I have emended the question $\endgroup$ – peter2108 Aug 10 at 8:49

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