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. DOI 10.6092/unibo/amsacta/649.
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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 different definitions of Europe and by introducing a more suitable investment variable that results after netting out FDI. We find that the F-H co¢cient decreases in all cases in whcih we adopt the correct investment definition. Over time we see a decrease of the F-H coe¢cient 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
Tipologia del documento
Monografia (Working paper)
Autori
AutoreAffiliazioneORCID
Rossini, Gianpaolo
Zanghieri, Paolo
Parole chiave
Saving Investment Puzzle Feldstein Horioka FDI Europe
Settori scientifico-disciplinari
DOI
Data di deposito
17 Giu 2004
Ultima modifica
17 Feb 2016 13:59
URI

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