Saving–investment Correlations in Response to Monetary Policy Shocks: New Insights into the Feldstein–Horioka Puzzle?
نویسندگان
چکیده
منابع مشابه
Savings and Investment Correlations in Response to Monetary Policy Shocks: New Insights into the Feldstein-Horioka Puzzle?
In this paper, it is argued that the observed high positive correlation between national savings and investment which is found in the data can in part be explained by shocks to monetary policy. This hypothesis, which is established by reviewing some empirical findings, is tested in a two-country DSGE-model framework in the tradition of the New Open Economy Macroeconomics. The simulation results...
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ژورنال
عنوان ژورنال: Open Economies Review
سال: 2007
ISSN: 0923-7992,1573-708X
DOI: 10.1007/s11079-007-9043-7