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The Global Side of the Investment-Saving Puzzle

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dc.contributor.authorByrne, Joseph P.
dc.contributor.authorFazio, Giorgio
dc.contributor.authorFiess, Norbert
dc.date.accessioned2012-03-30T07:33:02Z
dc.date.available2012-03-30T07:33:02Z
dc.date.issued2009
dc.description.abstractIn this paper, we reexamine the long-standing and puzzling correlation between national saving and investment in industrial countries. We apply an econometric methodology that allows us to separate idiosyncratic correlation at the country level from correlation at the global level. In a major break with the existing literature, we find no evidence of a long-run relationship in the idiosyncratic components of saving and investment. We also find that the global components in saving and investments commove, indicating that they react to shocks of a global nature.en
dc.identifier.citationJournal of Money, Credit, and Banking
dc.identifier.issn00222879
dc.identifier.urihttps://hdl.handle.net/10986/5481
dc.language.isoEN
dc.relation.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/igo
dc.rights.holderWorld Bank
dc.subjectMacroeconomics: Consumption
dc.subjectSaving
dc.subjectWealth E210
dc.subjectCapital
dc.subjectInvestment
dc.subjectCapacity E220
dc.subjectMacroeconomics: Production E230
dc.titleThe Global Side of the Investment-Saving Puzzleen
dc.title.alternativeJournal of Money, Credit, and Bankingen
dc.typeJournal Articleen
dc.typeArticle de journalfr
dc.typeArtículo de revistaes
dspace.entity.typePublication
okr.doctypeJournal Article
okr.externalcontentExternal Content
okr.identifier.externaldocumentum338
okr.journal.nbpages1033-1040
okr.language.supporteden
okr.peerreviewAcademic Peer Review
okr.relation.associatedurlhttp://search.ebscohost.com/login.aspx?direct=true&db=eoh&AN=1058893&site=ehost-live
okr.relation.associatedurlhttp://www.blackwellpublishing.com/journal.asp?ref=0022-2879
okr.volume41
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