A NOTE ON HUMAN CAPITAL AND THE FELDSTEIN-HORIOKA PUZZLE

Margarita Katsimi and Thomas Moutos ()

Manchester School, 2009, vol. 77, issue 3, pages 398-409

Abstract: In this paper we re-examine the Feldstein-Horioka finding of limited international capital mobility by using a broader view (i.e. including human capital) of investment and saving. We find that the decline in the economic significance of the Feldstein-Horioka result, found in studies using more recent data, holds also for our broader definition of saving and investment. Copyright © 2009 The Authors. Journal compilation © 2009 Blackwell Publishing Ltd and The University of Manchester.

Date: 2009

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Working Paper: A Note on Human Capital and the Feldstein-Horioka Puzzle (2007)
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