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  1. Consumer preferences and the reliability of Euler equation tests of capital mobility
    some simulation based evidence
    Autor*in: Buch, Claudia M.; Döpke, Jörg; Pierdzioch, Christian
    Erschienen: 2002
    Verlag:  Inst. for World Economics, Kiel

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  2. The Feldstein-Horioka puzzle or paradox after 44 Years
    a fallacy of composition
    Autor*in: Horioka, Charles
    Erschienen: February 2024
    Verlag:  The Institute of Social and Economic Research, Osaka University, Osaka, Japan

    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... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 198
    Fernleihe:
    keine Fernleihe

     

    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 countries as a whole may not be able to transfer their capital abroad and that the Feldstein-Horioka Finding of domestic saving and domestic investment being highly correlated across countries may arise even if there are no frictions in financial markets and even if individual investors can freely transfer their capital abroad if there are frictions in goods markets such as transport costs, tariffs, nontariff barriers, the cost of regulatory compliance, etc. In fact, there is evidence that frictions in goods markets are a more serious impediment to countries as a whole being able to transfer their capital abroad than frictions in financial markets, especially in the short run.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/296874
    Schriftenreihe: Discussion paper / The Institute of Social and Economic Research ; no. 1231
    Schlagworte: Capital controls; fallacy of composition; Feldstein-Horioka Finding; Feldstein-Horioka Puzzle or Paradox; frictions in financial markets; frictions in goods markets; global interest rate; globalization and liberalization of financial markets; interest parity; interest rate equalization; international capital flows; international capital mobility; saving-investment correlations; saving retention coefficient; trade costs; trade frictions
    Umfang: 1 Online-Ressource (circa 32 Seiten), Illustrationen
  3. The Feldstein-Horioka puzzle or paradox after 44 years
    a fallacy of composition
    Autor*in: Horioka, Charles
    Erschienen: February 2024
    Verlag:  [Asian Growth Research Institute], [Fukuoka, Japan]

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    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    VS 745
    Fernleihe:
    keine Fernleihe
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