Browsing W&L Dept. of Economics by Subject "Capital market -- Mathematical models"
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Do Goods and Financial Market Frictions Explain the Feldstein-Horioka Puzzle? (thesis)
Feldstein and Horioka (1980) argue that in a world of perfect capital mobility, if one regressed investment on savings, the coefficient would be 0. When they found coefficients of between 0.87 and 0.91, they concluded that ...