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E-book
Author Tanner, Evan.

Title Frugality
Published Washington : International Monetary Fund, 2009
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Description 1 online resource (69 pages)
Series IMF Working Papers ; v. Working Paper No. 09/197
IMF Working Papers
Contents Cover Page; Title Page; Copyright Page; Contents; I. Introduction; Box 1. Recent Views on U.S. Savings and the Paradox Of Thrift in the Popular and Financial Press; II. Indicators of Household Wealth and Saving in the United States.; Table 1. United States: Household Assets and Liabilities Averages by Decade; Table 2. United States: Household Assets and Liabilities Averages by Decade; Table 3. United States: Household Assets and Liabilities Changes between Decades; Figure 1. Household Net Wealth and Personal Savings (in Percent of GDP)
2. Coefficient Estimates: Long-Run and Short-RunTable A.3. Hypothesis Tests, Restrictions on Cointegrating Coefficients; Appendix D. Pleasant Pigovian Accounting in an Open Economy; Table A.4. Summary of Estimates, VECM System (3'); References; Footnotes
Figure 2. United States: Real Rates of Return on Assets Percent per Annum, YearlyFigure 3. United States: Saving, Alternative Measures (In Percent of Disposable; III. An Inverse Relationship between Primary Savings and Asset Income?; IV. The Estimated Relation Between Primary Saving and Asset Income; Figure 4. Impulse Response Functions, VECM System (3(); V. Prospective Analysis: Alternative Scenarios for Savings and Assets; A. Forward Simulations; Table 4. Summary of Estimates, Equations (4a), (4b), (4c); B. Stochastic Simulation (No Change to Parameters)
Figure 5. Primary Savings (S*)-Stochastic Simulations US BillionC. Alternative "New Frugality" Scenarios: Structural Shifts In The Model; Figure 6. Net Worth (A, Upper Chart) and Primary Savings (S*, Lower Chart), ; Table 5. Summary of Alternative Savings Scenarios; VI. Pleasant Pigovian Accounting? Further Reflections on the Paradox of Thrift; A. An Accounting Model; Figure 7. U.S. Savings: Corporate vs. Household Savings; Figure 8. US: Capital Formation and Net Wealth; B. Prospective Paths for Consumer Expenditures; Figure 9. US Household Consumption; C. Capital Investment
Table 6. Summary of Estimates, Equation (12)Table 7. Summary of Estimates, Equation (13); Figure 10. Fixed Capital Formation (FC), Stochastic Simulations (US Billions); Figure 11. Total Fixed Investment (Billions of 2000 US); VII. Summary, Conclusions, and Directions for Future Work; Appendix A. Data Definitions; Appendix B. Assessing Transversality: Primary Savings and the Level of Assets; Appendix C. Estimation Details; Table A.1. Unit Root Tests for Variables in Levels and Differences; 1. Model Setup; Table A.2. Cointegration Analysis (Johansen (1990) Test
Summary Household savings rates in the United States have recently crept up from all-time lows. Some have suggested that a shift toward frugality will hamper GDP growth-the Keynesian ""paradox of thrift."" We estimate that households compensate for a fall in their asset income by saving more out of their labor income, dollar-for-dollar. In the wake of the crisis, our model predicts that such primary savings will increase, but only temporarily and modestly, as household assets stabilize. As savings flows gradually accumulate, they help rebuild corporate net worth and hence firms' capacity to make capit
Notes Print version record
Form Electronic book
Author Abdih, Y. (Yasser)
ISBN 1452779325
9781452779324