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Based on the relation between investment and domestic saving proposed by Feldstein and Horioka (1980) to verify capital … autoregressive (SVAR) involving investment and saving in order to evaluate the effect of exogenous shocks through impulse response … showed that investment is sensitive to contemporaneous innovation on saving and this effect lasts for a long time. Regarding …
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capital in the past. The conclusion is that within EMU domestic saving and investment will be less correlated than they were …
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Since 2002 the German government seeks to stimulate private retirement savings by means of special allowances and tax …
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