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Capital Mobility in Sweden: A Time Varying Parameter Approach
Jönköping University, Jönköping International Business School, JIBS, Economics.
2007 (English)In: Applied Economics Letters, ISSN 1350-4851, E-ISSN 1466-4291, Vol. 14, no 15, p. 1115-1118Article in journal (Refereed) Published
Abstract [en]

This article investigates the degree of capital mobility in Sweden during 1993 to 2004 using quarterly data. A time varying parameter model is estimated by the Kalman filter, and it shows that the relationship between investment as share in gross domestic product (GDP) and saving as share in GDP is much less than one (within the interval of 0.25–0.35), indicating substantial capital mobility. However, since the coefficient in each period is statistically different from zero, capital is still not perfectly mobile. Nevertheless, capital mobility seems to have increased until 1995 when Sweden became a member of EU and after membership there seems to be no significant increase in capital mobility.

Place, publisher, year, edition, pages
2007. Vol. 14, no 15, p. 1115-1118
Keywords [en]
Saving, Investment, Capital Mobility, Feldstein-Horioka puzzle, Kalman filter
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:hj:diva-5394DOI: doi:10.1080/13504850600606018OAI: oai:DiVA.org:hj-5394DiVA, id: diva2:36214
Available from: 2008-03-05 Created: 2008-03-05 Last updated: 2017-12-12Bibliographically approved

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Publisher's full texthttp://www.informaworld.com/smpp/content?content=10.1080/13504850600606018

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Hacker, R Scott

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