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Martin Stuart (“Marty”) Feldstein, currently George F. Baker Professor of Economics at Harvard University and President Emeritus of the National Bureau of Economic Research, Inc. (NBER), is a renowned American economist who has made important contributions to public finance, macroeconomics,...
Persistent link: https://www.econbiz.de/10010892237
-run bivariate relationship between the time series of investment and saving. Third, I also examine the short-run as well as the … cyclical relationships between the time series of investment and saving. The results reported in this paper indicate that there … is a strong long-run and cyclical relationship between investment and saving, and this relationship seems to be …
Persistent link: https://www.econbiz.de/10005408170
-run investment-saving correlation follows directly from the economy's dynamic budget constraint and this does not depend on the … annual and quarterly post-war U.S. data, I find that investment and saving are cointegrated in levels as well as in rates … degree of international capital mobility. Therefore, unless the budget constraint is violated, the time series of investment …
Persistent link: https://www.econbiz.de/10005119491
This paper develops a new empirical measure of capital mobility. It tests the hypothesis that the degree of capital mobility can be estimated by measuring the reaction intensity of capital flows to shocks in interest rates, on a sample of eight European post-transitional economies. This...
Persistent link: https://www.econbiz.de/10011076253
Since the study of Feldstein/Horioka (1980), the high correlation between investment and saving rates is a … together, the following conclusions can be drawn. Firstly, no long-term relationships exist between the national investment …- and saving-rates of the EU-countries but the observable correlations are the result of spurious correlations between …
Persistent link: https://www.econbiz.de/10008634429
us to reject this view. In fact, a net capital inflow made possible to meet the demand for investment boosting economic …
Persistent link: https://www.econbiz.de/10008458296
perfect capital mobility. We study the savings-investment relationship in Mexico from 1950 to 2007 by means of a cointegration … suggests that there was a strong savings-investment relationship until 1982, but it weakened afterwards. This evidence is …
Persistent link: https://www.econbiz.de/10010550179
consumption profiles. Third, new saving, regardless of its country of origin, is allocated toward the world's most productive … investment opportunities. The paper evaluates the international capital market's performance of these three roles by studying … data on correlations, international portfolio diversification, and the relations between national saving and domestic …
Persistent link: https://www.econbiz.de/10005789050
-run investment-saving correlation follows directly from the economy’s dynamic budget constraint and this does not depend on the … annual and quarterly post-war U.S. data, I find that investment and saving are cointegrated in levels as well as in rates … degree of international capital mobility. Therefore, unless the budget constraint is violated, the time series of investment …
Persistent link: https://www.econbiz.de/10010861921
-Horioka model (1980), the Sachs (1981, 1982) approach to the savings-investment relation and the Shibata-Shintani (1998) model. The …
Persistent link: https://www.econbiz.de/10005392568