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Domestic Saving and International Capital Movements in the Long Run and the Short Run
Feldstein, Martin - 1982
increases in domestic savings rates induce approximately equal increases in domestic rates of investment. New estimates for the … flows than to their short-run behavior. Coefficient estimates based on annual variations in savings and investment are …
Persistent link: https://www.econbiz.de/10012478160
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The Feldstein-Horioka fact
Giannone, Domenico - 2009
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...
Persistent link: https://www.econbiz.de/10012463130
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A Tractable Model of Precautionary Reserves, Net Foreign Assets, or Sovereign Wealth Funds
Carroll, Christopher D. - 2009
We model the motives for residents of a country to hold foreign assets, including the precautionary motive that has been omitted from much previous literature as intractable. Our model captures many of the principal insights from the existing specialized literature on the precautionary motive,...
Persistent link: https://www.econbiz.de/10012463421
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Channeling Domestic Savings into Productive Investment Under Asymmetric Information : The Essential Role of Foreign Direct Investment
Razin, Assaf - 1997
countries with insufficiently developed capital markets. This paper analyzes the problem of channeling domestic savings into …
Persistent link: https://www.econbiz.de/10012472477
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Fiscal Policies, Capital Formation, and Capitalism
Feldstein, Martin - 1994
This lecture examines the effects of tax policy and social security retirement benefits on capital accumulation and economic welfare. The paper begins by examining how capital income taxes reduce the real return to savers and then discusses the welfare loss of capital income taxation relative to...
Persistent link: https://www.econbiz.de/10012474022
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Current Account and Budget Deficits in an Intertemporal Model of Consumption and Taxation Smoothing. A Solution to the "Feldstein-Horioka Puzzle"?
Roubini, Nouriel - 1988
savings rate on the investment rate, as performed in the literature, are shown to be incorrect tests of the hypothesis of … current account and savings equations. Empirical tests of the model for a sample of 18 OECD countries present good evidence …
Persistent link: https://www.econbiz.de/10012476287
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International Capital Mobility in Developing Countries vs. Industrial Countries : What do Saving-Investment Correlations Tell Us?
Frankel, Jeffrey A. - 1986
The finding of Feldstein and Horioka (1980) that countriesf investment rates are highly correlated with their national saving rates has by now been confirmed by many subsequent studies, even though their inference that international capital mobility nust be low has not been as widely accepted....
Persistent link: https://www.econbiz.de/10012477026
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Domestic Savings and International Capital Flows
Feldstein, Martin - 1979
How internationally mobile is the world's supply of capital? Does capital flow among industrial countries to equalize the yield to investors? Alternatively, does the saving that originates in a country remain 'to be invested there? Or does the truth lie somewhere between these two extremes? The...
Persistent link: https://www.econbiz.de/10012478839
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Capital Flows, Consumption Booms and Asset Bubbles : A Behavioural Alternative to the Savings Glut Hypothesis
Laibson, David - 2010
Bernanke (2005) hypothesized that a "global savings glut" was causing large trade imbalances. However, we show that the … global savings rates did not show a robust upward trend during the relevant period. Moreover, if there had been a global … savings glut there should have been a large investment boom in the countries that imported capital. Instead, those countries …
Persistent link: https://www.econbiz.de/10012462896
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A Pragmatic Approach to Capital Account Liberalization
Prasad, Eswar S. - 2008
developing countries and emerging markets. This suggests that the lack of domestic savings is not the primary constraint on …
Persistent link: https://www.econbiz.de/10012464595