What model of camcorder are you using?
If you are shooting tape-based miniDV or HDV video, Adobe has discontinued capture from these camcorders over a FireWire connection.
If you are on a Windows computer, you can capture your video with WinDV or HDV Split, free downloads, and the video will edit in Premiere Elements.
If you are on a Mac, video captured with iMovie is editable in Premiere Elements.
If you are working with a miniDV camcorder, please see the Adobe document written for 13/13.1 but applies to 14 as well. It mentions the removal of the DV HDV Capture Firewire feature and suggests some workarounds.
The last version of Premiere Elements that has the DV HDV Capture firewire into the Premiere Elements Capture Window is version 12/12.1.
Some helpful links for what was already mentioned
HDVSplit HDVSplit 0.77 beta