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http://bura.brunel.ac.uk/handle/2438/7719| Title: | Capital mobility and global factor shocks |
| Authors: | Costantini, M Gutierrez, L |
| Keywords: | Saving;Investment;Capital mobility;Panel cointegration |
| Issue Date: | 2013 |
| Publisher: | Elsevier |
| Citation: | Economics Letters, 120(3), 513-515, 2013 |
| Abstract: | This paper focuses on the effects of global factors on the saving–investment relationship. We prove that, if investments and savings are affected by idiosyncratic and global components, they must be cointegrated to obtain reliable estimates of the saving-retention coefficient. When global shocks are taken into account throughcommonfactors,wefind that the estimated saving-retention coefficient is close to zero for a panel of 21 OECD countries |
| Description: | © 2013 Elsevier B.V. All rights reserved |
| URI: | http://www.sciencedirect.com/science/article/pii/S0165176513002905 http://bura.brunel.ac.uk/handle/2438/7719 |
| DOI: | http://dx.doi.org/10.1016/j.econlet.2013.06.008 |
| ISSN: | 0165-1765 |
| Appears in Collections: | Economics and Finance Publications Dept of Economics and Finance Research Papers |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| Fulltext.pdf | 348.24 kB | Adobe PDF | View/Open |
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