The Feldstein-Horioka Puzzle: Modern Aspects

descriptionPublicationkeyboard_double_arrow_right Article , Other literature type , Preprint 01 Jan 2013 English Publisher:Elsevier BVJournal:SSRN Electronic Journal (eissn: 1556-5068,

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Authors: Pavel Trunin; Andrey Zubarev;

doi: 10.2139/ssrn.2353911

The Feldstein-Horioka Puzzle: Modern Aspects

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Abstract

The primary purpose of this paper is to test the hypothesis of capital mobility reduction in the wake of the global financial crisis of 2008-2009. Through the constructed models we tested hypotheses about the long- and short-term mobility of global capital by estimating the correlation between savings and investment rates. The paper also deals with the question of capital mobility in Russia. Recommendations on monetary policy in Russia in the coming years based on the obtained findings were made.

Related Organizations

Economic Policy Institute
United States
Gaidar Institute for Economic Policy
Russian Federation
The Russian Presidential Academy of National Economy and Public Administration
Russian Federation

Keywords

Feldstein-Harioka puzzle, capital mobility, monetary policy, jel: jel:E52

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