The Feldstein-Horioka test of international capital mobility : Is it feasible? /

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Bibliographic Details
Author / Creator:Jansen, W. J., author.
Imprint:[Washington, D.C.] : International Monetary Fund, Research Dept., ©1996.
Description:1 online resource (iii, 23 pages) : illustrations
Language:English
Series:IMF working paper ; WP/96/100
IMF working paper ; WP/96/100.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/13510684
Hidden Bibliographic Details
Other authors / contributors:International Monetary Fund. Research Department.
ISBN:145520501X
9781455205011
1462320686
9781462320684
1455294926
9781455294923
1281383791
9781281383792
9786613779755
661377975X
Notes:Includes bibliographical references (pages 20-23).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
Summary:Annotation Feldstein and Horioka (1980) argued that the correlation of saving and investment in a cross-section of countries may provide a test of global capital mobility. This paper argues that neither the long-run nor the short-run correlation can serve as a reliable basis for such a test. the intertemporal budget constraint implies that each countrys saving and investment should be cointegrated over time. Simulations show that the cross-section regressions used in the literature will produce correlations that strongly tend towards one, regardless of the degree of capital mobility. Although the short-run correlation is not affected by the intertemporal budget constraint, the empirical analysis shows it is primarily a country-specific business cycle fact.
Other form:Print version: Jansen, W.J. Feldstein-Horioka test of international capital mobility. [Washington, D.C.] : International Monetary Fund, Research Dept., ©1996

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245 1 4 |a The Feldstein-Horioka test of international capital mobility :  |b Is it feasible? /  |c prepared by W. Jos Jansen. 
260 |a [Washington, D.C.] :  |b International Monetary Fund, Research Dept.,  |c ©1996. 
300 |a 1 online resource (iii, 23 pages) :  |b illustrations 
336 |a text  |b txt  |2 rdacontent 
337 |a computer  |b c  |2 rdamedia 
338 |a online resource  |b cr  |2 rdacarrier 
490 1 |a IMF working paper ;  |v WP/96/100 
504 |a Includes bibliographical references (pages 20-23). 
506 |3 Use copy  |f Restrictions unspecified  |2 star  |5 MiAaHDL 
533 |a Electronic reproduction.  |b [Place of publication not identified] :  |c HathiTrust Digital Library,  |d 2010.  |5 MiAaHDL 
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583 1 |a digitized  |c 2010  |h HathiTrust Digital Library  |l committed to preserve  |2 pda  |5 MiAaHDL 
588 0 |a Print version record. 
520 8 |a Annotation  |b Feldstein and Horioka (1980) argued that the correlation of saving and investment in a cross-section of countries may provide a test of global capital mobility. This paper argues that neither the long-run nor the short-run correlation can serve as a reliable basis for such a test. the intertemporal budget constraint implies that each countrys saving and investment should be cointegrated over time. Simulations show that the cross-section regressions used in the literature will produce correlations that strongly tend towards one, regardless of the degree of capital mobility. Although the short-run correlation is not affected by the intertemporal budget constraint, the empirical analysis shows it is primarily a country-specific business cycle fact. 
546 |a English. 
650 0 |a Capital movements  |x Econometric models. 
650 0 |a Saving and investment  |x Econometric models. 
650 6 |a Mouvements de capitaux  |x Modèles économétriques. 
650 7 |a Capital movements  |x Econometric models.  |2 fast  |0 (OCoLC)fst00846376 
650 7 |a Saving and investment  |x Econometric models.  |2 fast  |0 (OCoLC)fst01105962 
650 0 7 |a CAPITAL MOVEMENTS.  |2 unbist 
650 0 7 |a FOREIGN INVESTMENTS.  |2 unbist 
650 0 7 |a INVESTMENT ANALYSIS.  |2 unbist 
650 0 7 |a SAVINGS.  |2 unbist 
650 0 7 |a SAVINGS MOBILIZATION.  |2 unbist 
710 2 |a International Monetary Fund.  |b Research Department.  |0 http://id.loc.gov/authorities/names/n77001219 
776 0 8 |i Print version:  |a Jansen, W.J.  |t Feldstein-Horioka test of international capital mobility.  |d [Washington, D.C.] : International Monetary Fund, Research Dept., ©1996  |w (OCoLC)35590047 
830 0 |a IMF working paper ;  |v WP/96/100.  |0 http://id.loc.gov/authorities/names/no89010263 
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