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view (i.e., including human capital) of investment and saving. We find that the Feldstein-Horioka result is impervious to …
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We revisit the Feldstein-Horioka (FH) puzzle using data for 23 Organisation for Economic Co-operation and Development (OECD) countries for the period 1973-2003. We document a sharp decline in the FH coefficient from the mid-1990s onward, supporting the hypothesis of increased economic and...
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In 1980 Feldstein and Horioka (F-H) found high saving-investment cross-section correlation among OECD countries and … stimulated a vigorous debate. Since the saving-investment association has been largely confirmed in many subsequent studies … adjustment mechanism exists; this generates small net external imbalances relative to total saving and investment. The F …
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