Does Accounting for Foreign Capital Flows help to solve the Feldstein and Horioka Puzzle? The Case of Norway
作者： Eleftherios Makedonas , Stavros Tsopoglou
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摘要: A new proxy variable for the investment part of initial Feldstein and Horioka model is proposed. We denominate it 'modified gross fixed capital formation'. It derived by subtracting imports assets included in an economy's formation from itself. This way, exclusively domestic isolated. Applying case Norway, aforementioned approach significantly reduces or even eliminates high autocorrelation inherent specification. Norway appears to be characterized a degree international mobility.
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