The Feldstein-Horioka fact [PDF]
This paper shows that general equilibrium effects can partly rationalize the high correlation between saving and investment rates observed in OECD countries.
Giannone, Domenico, Lenza, Michele
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L’Intégration Européenne et la Soutenabilité Externe de l’Union Européenne: une application de la thèse de Feldstein-Horioka [PDF]
The Feldstein-Horioka thesis was considered one of the greatest puzzles in economics. Born to measure international capital mobility, has known a process of immunisation to be conformed to empirical evidence and respect econometric knowledge. We apply to
João Sousa Andrade
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The Global Side of the Investments-Savings Puzzle [PDF]
In this paper we re-examine the long standing and puzzling correlation between national savings and investment in industrial countries. We apply an econometric methodology that allows us to separate idiosyncratic correlation at the country level from ...
Giorgio Fazio +2 more
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Rethinking balance-of-payments constraints in a globalized world [PDF]
This paper confronts the traditional balance-of-payments (BoP) analytical framework (with its dominant focus on the size of a given country’s current account imbalance and its external liabilities) with the contemporary realities of highly integrated ...
Dabrowski, Marek
core +4 more sources
International Capital Mobility in African Countries: Do the legal origins matter? [PDF]
This paper investigates the Feldstein-Horioka coefficients and legal origins for 37 African countries using the recently developed panel cointegration techniques.
Chrysost Bangaké, Jude Eggoh
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Consumption Smoothing Channels in Open Economies [PDF]
We recognize that intertemporal models of the current account (Frankel and Razin with Yuan 1996, or Baxter and Crucini 1993) imply a theory of consumption smoothing channels, and thus we build an empirical model on the theoretical foundations of Sachs ...
Pierfederico Asdrubali, Soyoung Kim
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Current Account Deficits, Macroeconomic Policy Stance and Governance: An Empirical Investigation [PDF]
This paper empirically investigates the effects of institutional and macroeconomic policy stance variables on current account deficits (CAD). Based on cross-section data for a broad number of developing and industrial countries, the results strongly ...
Erdal Özmen
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From theory to practice: Monetary policy transmission and bank risk dynamics. [PDF]
PLoS OneZhang Z, Clovis J, Moffatt P, Wang W.
europepmc +1 more source
Accounting for Global Dispersion of Current Accounts. [PDF]
We undertake a quantitative analysis of the dispersion of current accounts in an open economy version of incomplete insurance model, incorporating important market frictions in trade and financial flows. Calibrated with conventional parameter values, the
Jaewoo Lee, Sun-Bin Kim, Yongsung Chang
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A Panel Cointegration study of the long-run relationship between Savings and Investments in the OECD economies, 1970-2007 [PDF]
In this paper we test for the existence of a long-run savings-investments relationship in 18 OECD economies over the period 1970-2007. Although individual modelling provides only very weak support to the hypothesis of a link between savings and ...
Di Iorio, Francesca, Fachin, Stefano
core +1 more source