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This books explores the international aspects of pension reform, private savings and volatile capital markets and …, analysing the implications of financial reform for stimulating savings, and exploring both the benefits and risks of global … capital flows to emerging markets, Pensions, Savings and Capital Flows will inform policy and academic debates on financial …
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Population aging challenges the financing of social security systems in developed economies, as the fraction of the population in working age declines. The resulting pressure on capital-labor ratios translates into a pressure on factor prices and production. While European countries all face...
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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...
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