Cooray, Arusha and Felmingham, Bruce (2005): Investment and Savings Cycles and Tests for Capital Market Integration.
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Abstract
A spectral analysis of the Australian time series for the investment and savings ratio on monthly data over the period finds that the investment ratio is subject to a cycle of 6 months duration while the savings ratio series is concentrated on a longer swing of 4 to 6 years. The implications for the Feldstein-Horioka test of capital mobility are explained.
| Item Type: | MPRA Paper |
|---|---|
| Original Title: | Investment and Savings Cycles and Tests for Capital Market Integration |
| Language: | English |
| Keywords: | investment, savings, spectral analysis, Australia |
| Subjects: | E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E32 - Business Fluctuations ; Cycles F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance > F41 - Open Economy Macroeconomics |
| Item ID: | 23629 |
| Depositing User: | Arusha Cooray |
| Date Deposited: | 05 Jul 2010 09:41 |
| Last Modified: | 04 Oct 2019 00:29 |
| References: | Feldstein M. and Horioka C. (1980), ‘Domestic Saving and International Capital Flows,’ Economic Journal, 90, 314-329. |
| URI: | https://mpra.ub.uni-muenchen.de/id/eprint/23629 |
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