Saving and Investment in Euroland,the EU and the enlarged EU.

Rossini, Gianpaolo ; Zanghieri, Paolo (2002) Saving and Investment in Euroland,the EU and the enlarged EU. Bologna: Dipartimento di Scienze economiche DSE, p. 19. DOI 10.6092/unibo/amsacta/4860. In: Quaderni - Working Paper DSE (438). ISSN 2282-6483.
Full text available as:
[img]
Preview
Text(pdf)
License: Creative Commons Attribution Non-commercial

Download (85kB) | Preview

Abstract

The Feldstein-Horioka puzzle has been recently included among the six major puzzles of international economics. It is a paradox that belongs to the large group of home biases that have become stylized facts. We investigate the F-H puzzle according to di¤erent definitions of Europe and by introducing a more suitable investment variable that results after netting out FDI. We find that the F-H coeficient decreases in all cases in whcih we adopt the correct investment definition. Over time we see a decrease of the F-H coeficient during the 1980’s and an increase over the 1990’s as a proof that the Maastricht Treaty discipline has made current account targeting biting. This does not happen for opting out and Eastern Europe countries.

Abstract
Document type
Monograph (Working Paper)
Creators
CreatorsAffiliationORCID
Rossini, Gianpaolo
Zanghieri, Paolo
Keywords
Saving, Investment, Puzzle, Feldstein, Horioka,.FDI, Europe.
Subjects
ISSN
2282-6483
DOI
Deposit date
15 Mar 2016 09:39
Last modified
15 Mar 2016 09:39
URI

Other metadata

Downloads

Downloads

Staff only: View the document

^