Analyzing the Feldstein-Horioka puzzle in continuous wavelet transform

Olaolu Olayeni

Economics Bulletin, 2013, vol. 33, issue 4, 2995-3005

Abstract: We use a novel time-frequency approach to estimate wavelet-based correlation and retention coefficients of the well-known Feldstein-Horioka (1980) puzzle for a cross-section of 39 countries over the period 1960-2012. Our approach reveals many interesting issues in the connection between investment and saving rates among these countries and distinguishes between the short and the long run fluctuations in correlation and retention coefficients.

Keywords: Feldstein-Horioka puzzle; retention coefficient; continuous wavelet transform (search for similar items in EconPapers)
JEL-codes: B4 C1 (search for similar items in EconPapers)
Date: 2013-12-23
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Citations: View citations in EconPapers (1)

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