A Note on Human Capital and the Feldstein-Horioka PuzzleResearch, Preprint OPEN
Katsimi, Margarita; Moutos, Thomas; (2007)
- Publisher: Kiel: Kiel Institute for the World Economy (IfW)
Subject: human capital | Q4 | capital mobility | I2 | human capital,current account,investment-saving correlation,capital mobility | F2 | E2 | current account | investment-saving correlation
In this paper we reexamine the Feldstein-Horioka finding of limited international capital mobility by using a broader view (i.e., including human capital) of investment and saving. We find that the Feldstein-Horioka result is impervious to this change.