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The Feldstein-Horioka Fact

Domenico Giannone () and Michele Lenza ()

No 2009_022, Working Papers ECARES from ULB -- Universite Libre de Bruxelles

Abstract: This paper shows that general equilibrium effects can partly rationalize the high correlation between saving and investment rates observed in OECD countries. We find that once controlling for general equilibrium effects the saving-retention coefficient remains high in the 70’s but decreases considerably since the 80’s, consistently with the increased capital mobility in OECD countries.

Keywords: Saving-Investment correlation; capital mobility; international comovement; dynamic factor model. (search for similar items in EconPapers)
JEL-codes: C23 F32 F41 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-bec, nep-cba, nep-lab, nep-mac and nep-opm
Date: 2009
References: Add references at CitEc
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Related works:
Chapter: The Feldstein-Horioka Fact (2010) Downloads
Journal Article: The Feldstein-Horioka Fact (2010) Downloads
Working Paper: The Feldstein-Horioka fact (2009) Downloads
Working Paper: The Feldstein-Horioka fact (2008) Downloads
Working Paper: The Feldstein-Horioka Fact (2004) Downloads
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