ROCHA, Fabiana <br/><br/>
Correlação feldstein-horioka :  Indicador de mobilidade de capitais ou de solvência? 

 - São Paulo :  Editora 34,  jan./mar. 2003 
<br/><br/> The purpose of this paper is to use the intertemporal open macro models, and the solvency econometric tests derived from them, to analyze the original Feldstein and Horioka saving-investment correlation. The solvency constraint implies that saving and investment are cointegrated with a coefficient of one and, therefore, that the current account is stationary. Since the Feldstein-Horioka cross-section regression measures the average long-run coefficient, it is possible then to argue that it is capturing the unit coefficient implied by the solvency constraint and not some measure of capital mobility