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Analyzing the Feldstein-Horioka puzzle in continuous wavelet transform

Author

Listed:
  • Olaolu R Olayeni

    (Department of Economics, Obafemi Awolowo University, Ile-Ife, Nigeria)

Abstract

We use a novel time-frequency approach to estimate wavelet-based correlation and retention coefficients of the well-known Feldstein-Horioka (1980) puzzle for a cross-section of 39 countries over the period 1960-2012. Our approach reveals many interesting issues in the connection between investment and saving rates among these countries and distinguishes between the short and the long run fluctuations in correlation and retention coefficients.

Suggested Citation

  • Olaolu R Olayeni, 2013. "Analyzing the Feldstein-Horioka puzzle in continuous wavelet transform," Economics Bulletin, AccessEcon, vol. 33(4), pages 2995-3005.
    • Handle: RePEc:ebl:ecbull:eb-13-00584
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    File URL: http://www.accessecon.com/Pubs/EB/2013/Volume33/EB-13-V33-I4-P279.pdf
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    Cited by:

    1. Olaolu Richard Olayeni, 2016. "Causality in Continuous Wavelet Transform Without Spectral Matrix Factorization: Theory and Application," Computational Economics, Springer;Society for Computational Economics, vol. 47(3), pages 321-340, March.

    More about this item

    Keywords

    Feldstein-Horioka puzzle; retention coefficient; continuous wavelet transform;
    All these keywords.

    JEL classification:

    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology

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