Fiche du document
2015
- handle: 10670/1.hyalrx
- halshs: halshs-01112088
- doi: 10.1016/j.inteco.2015.01.001
- PRODINRA: 312806
Ce document est lié à :
info:eu-repo/semantics/altIdentifier/doi/10.1016/j.inteco.2015.01.001
info:eu-repo/semantics/OpenAccess
Mots-clés
Meta-analysis saving-investment correlation capital mobility Feldstein-Horioka coefficient F - International Economics/F.F3 - International Finance/F.F3.F32 - Current Account Adjustment • Short-Term Capital Movements F - International Economics/F.F4 - Macroeconomic Aspects of International Trade and Finance/F.F4.F40 - General C - Mathematical and Quantitative Methods/C.C8 - Data Collection and Data Estimation Methodology • Computer Programs/C.C8.C83 - Survey Methods • Sampling MethodsSujets proches
PapersCiter ce document
Christophe Tavéra et al., « The "Mother of All Puzzles" at thirty: a meta-analysis », HAL-SHS : économie et finance, ID : 10.1016/j.inteco.2015.01.001
Métriques
Partage / Export
Résumé
This paper provides a meta-analysis of 1651 point estimates of Feldstein and Horioka saving retention coefficient from 49 peer-reviewed papers published over three decades. We get two main results. First, correcting for publication bias, we find a consistent underlying coefficient lying between 0.56 and 0.67 for studies using the original paper. Second, heterogeneity reported in the estimates of the Feldstein and Horioka can be explained by a few main factors. In particular, we find evidence that the saving retention coefficient is systematically underestimated with models written in first difference, models using the saving ratio or the current account ratio as the dependent variable instead of the investment ratio, and models including indicators of the public deficit or indicators of the country size as additional explanatory variables.