Investment and Savings Cycles and Tests for Capital Market Integration

A spectral analysis of the Australian time series for the investment and savings ratio on monthly data over the period finds that the investment ratio is subject to a cycle of 6 months duration while the savings ratio series is concentrated on a longer swing of 4 to 6 years. The implications for the Feldstein-Horioka test of capital mobility are explained.

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Year of publication:	2005
Authors:	Cooray, Arusha ; Felmingham, Bruce
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	investment \| savings \| spectral analysis \| Australia

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	E32 - Business Fluctuations; Cycles ; F41 - Open Economy Macroeconomics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008557280