Introduction
•State the FH puzzle
•How frequently is this paper cited
•Why are its results relevant?
•Brief outline of what you will be doing in the paper
Empirical Analysis
• Present the FH equation
• Indicate why the results they report might not be relevant today
• Indicate the main limitations of taking their results as given. Pick one and elaborate
• Present your approach• Data source
• List of country groups
• Sample periods
• Estimation Methods• OLS on sample averages
• Panel Data
Results
•Report coefficient estimates
•Examine any pattern and its significance for FH’s relevance
Sensitivity Analysis
•Review Greenspan method
•Show the results using Greenspan’s method
•Are the inferences from FH and Greenspan consistent with each
other
Conclusion
•Answer the question of whether FH is relevant
•References
