Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/159279
Authors: 
Rossini, Gianpaolo
Zanghieri, Paolo
Year of Publication: 
2002
Series/Report no.: 
Quaderni - Working Paper DSE 438
Abstract: 
The Feldstein-Horioka puzzle has been recently included among the six major puzzles of international economics. It is a paradox that belongs to the large group of home biases that have become stylized facts. We investigate the F-H puzzle according to di¤erent definitions of Europe and by introducing a more suitable investment variable that results after netting out FDI. We find that the F-H coeficient decreases in all cases in whcih we adopt the correct investment definition. Over time we see a decrease of the F-H coeficient during the 1980's and an increase over the 1990's as a proof that the Maastricht Treaty discipline has made current account targeting biting. This does not happen for opting out and Eastern Europe countries.
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by-nc/3.0/
Document Type: 
Working Paper

Files in This Item:
File
Size
83.57 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.