A NOTE ON HUMAN CAPITAL AND THE FELDSTEIN–HORIOKA PUZZLE*

Margarita Katsimi and Thomas Moutos

Manchester School, 2009, vol. 77, issue 3, 398-409

Abstract: In this paper we re‐examine 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 decline in the economic significance of the Feldstein–Horioka result, found in studies using more recent data, holds also for our broader definition of saving and investment.

Date: 2009
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https://doi.org/10.1111/j.1467-9957.2009.02103.x

Related works:
Working Paper: A Note on Human Capital and the Feldstein-Horioka Puzzle (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:bla:manchs:v:77:y:2009:i:3:p:398-409

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