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U.S. Consumption after the 2008 Crisis von Lee, Jaewoo (eBook)

  • Erscheinungsdatum: 15.01.2010
  • Verlag: International Monetary Fund
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U.S. Consumption after the 2008 Crisis

U.S. household consumption declined sharply in late 2008, marking a departure from the trend of a steady increase in U.S. consumption as a share of income since the 1980s. Combining econometric and simulation analysis, we estimate that this departure will be sustained beyond the crisis: the U.S. household consumption rate will likely decline somewhat further from its current level, as the saving rate rises to around 6 percent of disposable personal income (from nearly 5 percent in 2009). Compared to the pre-crisis years (2003-07), this saving rate implies a decline in U.S. private-sector demand on the order of 3 percentage points of GDP.

Produktinformationen

    Format: ePUB
    Kopierschutz: AdobeDRM
    Erscheinungsdatum: 15.01.2010
    Sprache: Englisch
    ISBN: 9781452746289
    Verlag: International Monetary Fund
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