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International capital mobility in OECD countries: The Feldstein–Horioka `puzzle' revisited

✍ Scribed by Khaled A. Hussein


Book ID
117333217
Publisher
Elsevier Science
Year
1998
Tongue
English
Weight
39 KB
Volume
59
Category
Article
ISSN
0165-1765

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This paper reviews how economists responded to the Feldstein -Horioka (FH) view that a high saving-investment association across OECD countries implied low capital mobility. This posed an uncomfortable puzzle since the conventional wisdom in most exchange rate and open-economy macroeconomic models w