 Theory-Based Measurement of the Saving-Investment Correlation with an Application to NorwayW. Jos Jansen and Günther Schulze Economic Inquiry, 1996, vol. 34, issue 1, 116-32 Abstract: The work of Martin Feldstein and Charles Horioka (1980) has stimulated much research on the correlations of national savings and investment rates and their relation to the degree of international capital mobility. Theory implies a cointegrating relation between these variables, which suggests this correlation is measured best by an error-correction model. This model includes all previous specifications as special cases, which the authors show are potentially misspecified on theoretical grounds. Applied to Norway, their model outperforms prevailing specifications. The authors detect structural breaks and find that the correlation's time profile is consistent with other indicators of capital mobility. Copyright 1996 by Oxford University Press. Date: 1996 There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:oup:ecinqu:v:34:y:1996:i:1:p:116-32 Ordering information: This journal article can be ordered from Access Statistics for this article Economic Inquiry is currently edited by Preston McAfee More articles in Economic Inquiry from Western Economic Association International Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK. Contact information at EDIRC. |
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