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The Feldstein-Horioka puzzle or paradox after 44 Years : a fallacy of composition

Horioka, Charles - 2024

The finding of Feldstein and Horioka (1980) that domestic saving and domestic investment are highly correlated across countries despite the rapid globalization and liberalization of financial markets in recent decades has been regarded as a Puzzle or Paradox. However, in this paper, we show that...

Persistent link: https://www.econbiz.de/10014530303

The Integration of Imperfect Financial Markets : Implications for Business Cycle Volatility

Buch, Claudia M.; Pierdzioch, Christian - 2004

During the last two decades, the degree of openness of national financial systems has increased substantially. At the same time, asymmetries in information and other financial market frictions have remain prevalent. We study both empirically and theoretically the implications of the opening up...

Persistent link: https://www.econbiz.de/10014072512

The solution to the Feldstein-Horioka puzzle

Horioka, Charles; Ford, Nicholas - 2017

The purpose of this paper is to set out a surprisingly simple solution to the Feldstein-Horioka Puzzle or Paradox, which is that even though global financial markets appear to be integrated, levels of saving and investment are correlated across countries because financial markets cannot, by...

Persistent link: https://www.econbiz.de/10011756014

A possible explanation of the 'exchange rate disconnect puzzle' : a common solution to three major macroeconomic puzzles?

Horioka, Charles; Ford, Nicholas - 2016

Meese and Rogoff (1983) and subsequent studies find that economic fundamentals are apparently not able to explain exchange rate movements, but we argue that this so-called "Exchange Rate Disconnect Puzzle" arose because researchers such as Meese and Rogoff (1983) did not use the right...

Persistent link: https://www.econbiz.de/10011502367

Capital market integration and consumption risk sharing over the long run

Rangvid, Jesper; Santa-Clara, Pedro; Schmeling, Maik - In: Journal of international economics 103 (2016), pp. 27-43

Persistent link: https://www.econbiz.de/10011655888

Financial integration and consumption risk sharing and smoothing

Suzuki, Yui - In: International review of economics & finance : IREF 29 (2014), pp. 585-598

Persistent link: https://www.econbiz.de/10010432295

Capital Market Integration and Consumption Risk Sharing Over the Long Run

Rangvid, Jesper - 2016

We empirically investigate time variation in capital market integration and consumption risk sharing using data for 16 … integration and consumption risk sharing and that higher capital market integration forecasts more consumption risk sharing in the … future. This finding is robust to controlling for trade openness and exchange rate volatility as alternative drivers of risk …

Persistent link: https://www.econbiz.de/10013006827

International capital flows, returns and world financial integration

Evans, Martin D. D.; Hnatkovska, Viktoria - In: Journal of international economics 92 (2014) 1, pp. 14-33

Persistent link: https://www.econbiz.de/10010438457

On international consumption risk sharing, financial integration and financial development

Mimir, Yasin - In: Emerging markets finance & trade : a journal of the … 52 (2016) 4/6, pp. 1241-1258

Persistent link: https://www.econbiz.de/10011563291

Medium and long term implications of financial integration without financial development

Corneli, Flavia - 2017

Persistent link: https://www.econbiz.de/10011949653