The "Mother of All Puzzles" at thirty: a meta-analysis
Christophe Tavéra
(1)
,
Jean-Christophe Poutineau
(1)
,
Jean-Sébastien Pentecôte
(1)
,
Isabelle Cadoret-David
(1)
,
Arthur Charpentier
(1)
,
Chantal Guéguen
(1)
,
Marilyne Huchet
(2)
,
Julien Licheron
(1)
,
Guillaume L'Oeillet
(1)
,
Nathalie Payelle
(1)
,
Sébastien Pommier
(1)
Christophe Tavéra
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- Function: Correspondent author
- PersonId: 173215
- IdHAL: christophe-tavera
- IdRef: 031888771
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Jean-Christophe Poutineau
- Function: Author
- PersonId: 173590
- IdHAL: jean-christophe-poutineau
- ORCID: 0000-0002-0189-4195
- IdRef: 080208681
Jean-Sébastien Pentecôte
- Function: Author
- PersonId: 1853
- IdHAL: jean-sebastien-pentecote
- IdRef: 123329183
Isabelle Cadoret-David
- Function: Author
- PersonId: 172876
- IdHAL: isabelle-cadoret
- ORCID: 0000-0002-3083-3703
- IdRef: 083717595
Arthur Charpentier
- Function: Author
- PersonId: 5493
- IdHAL: arthur-charpentier
- ORCID: 0000-0003-3654-6286
- IdRef: 079364721
Marilyne Huchet
- Function: Author
- PersonId: 171667
- IdHAL: marilyne-huchet
- ORCID: 0000-0002-9281-9595
- IdRef: 078745934
Guillaume L'Oeillet
- Function: Author
- PersonId: 9480
- IdHAL: guillaume-loeillet
- ORCID: 0000-0002-1996-9204
- IdRef: 148474136
Nathalie Payelle
- Function: Author
- PersonId: 182396
- IdHAL: nathalie-payelle
- ORCID: 0000-0002-9498-8771
- IdRef: 243405480
Sébastien Pommier
- Function: Author
- PersonId: 182620
- IdHAL: sebastien-pommier
- IdRef: 097992194
Abstract
This paper provides a meta-analysis of 1651 point estimates of Feldstein and Horioka saving retention coefficient from 49 peer-reviewed papers published over three decades. We get two main results. First, correcting for publication bias, we find a consistent underlying coefficient lying between 0.56 and 0.67 for studies using the original paper. Second, heterogeneity reported in the estimates of the Feldstein and Horioka can be explained by a few main factors. In particular, we find evidence that the saving retention coefficient is systematically underestimated with models written in first difference, models using the saving ratio or the current account ratio as the dependent variable instead of the investment ratio, and models including indicators of the public deficit or indicators of the country size as additional explanatory variables.
Submission Type | File |
---|---|
Deposit type | Journal articles |
Title |
en
The "Mother of All Puzzles" at thirty: a meta-analysis
|
Abstract |
en
This paper provides a meta-analysis of 1651 point estimates of Feldstein and Horioka saving retention coefficient from 49 peer-reviewed papers published over three decades. We get two main results. First, correcting for publication bias, we find a consistent underlying coefficient lying between 0.56 and 0.67 for studies using the original paper. Second, heterogeneity reported in the estimates of the Feldstein and Horioka can be explained by a few main factors. In particular, we find evidence that the saving retention coefficient is systematically underestimated with models written in first difference, models using the saving ratio or the current account ratio as the dependent variable instead of the investment ratio, and models including indicators of the public deficit or indicators of the country size as additional explanatory variables.
|
Authors |
Christophe Tavéra
1
, Jean-Christophe Poutineau
1
, Jean-Sébastien Pentecôte
1
, Isabelle Cadoret-David
1
, Arthur Charpentier
1
, Chantal Guéguen
1
, Marilyne Huchet
2
, Julien Licheron
1
, Guillaume L'Oeillet
1
, Nathalie Payelle
1
, Sébastien Pommier
1
1
CREM -
Centre de recherche en économie et management
( 894 )
- 7 place Hoche, BP 86514
35065 RENNES CEDEX
- France
2
SMART-LERECO -
Structures et Marché Agricoles, Ressources et Territoires
( 135749 )
- 4 allée Adolphe Bobierre - CS 61103 - 35011 Rennes Cedex
- France
|
Library / Research centre |
UMR 1302 UMR INRA / AGROCAMPUS OUEST : Structures et Marchés Agricoles, Ressources et Territoires, Centre de recherche de Rennes,, 35011 RENNES CEDEX, FRA (SMART MHB 21 CB 028986)
|
Target audience |
Scientists
|
Sous-type de document pour les Articles |
Research article
|
Fulltext language |
English
|
Page number |
80-96
|
Volume |
141
|
Journal |
|
Science popularization |
No
|
Peer-reviewed |
Yes
|
Audience |
International
|
Publication date |
2015
|
See also |
|
JEL thesaurus |
|
Domain |
|
Keywords |
en
Meta-analysis, saving-investment correlation, capital mobility, Feldstein-Horioka coefficient
|
DOI | 10.1016/j.inteco.2015.01.001 |
ProdINRA | 312806 |
Origin :
Files produced by the author(s)
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