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KOF Working Papers, KOF Konjunkturforschungsstelle, ETH Zürich >
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http://hdl.handle.net/10419/50901
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| Title: | | Savings and investment correlations in response to monetary policy shocks: New insights into the Feldstein-Horioka puzzle?  |
| Authors: | | Schmidt, Caroline |
| Issue Date: | | 2006 |
| Series/Report no.: | | Arbeitspapiere // Konjunkturforschungsstelle, Eidgenössische Technische Hochschule Zürich 144 |
| Abstract: | | 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 obtained support the idea that shocks to monetary policy might contribute to the explanation of the Feldstein-Horioka puzzle. |
| Subjects: | | Savings Investment Correlations Monetary Policy Shocks Feldstein-Horioka Puzzle Local-currency pricing |
| JEL: | | E2 E52 F32 |
| Persistent Identifier of the first edition: | | doi:10.3929/ethz-a-005277762 |
| Document Type: | | Working Paper |
| Appears in Collections: | | KOF Working Papers, KOF Konjunkturforschungsstelle, ETH Zürich
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