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- W2034772820 abstract "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 was that capital mobility was high. In the face of a variety of replications, the FH result of a high cross-section association between saving and investment rates in OECD countries has remained remarkably robust. The debate over whether saving-investment comovements are informative about capital mobility is still unresolved although the sceptics appear to be in the ascendancy. © 1998 John Wiley & Sons, Ltd." @default.
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- W2034772820 date "1998-04-01" @default.
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- W2034772820 title "The Feldstein-Horioka puzzle and capital mobility: a review" @default.
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- W2034772820 doi "https://doi.org/10.1002/(sici)1099-1158(199804)3:2<169::aid-ijfe74>3.0.co;2-h" @default.
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