Hidden Bibliographic Details
| Other authors / contributors: | Tanner, Evan, author.
International Monetary Fund. Middle East and Central Asia Department.
IMF Institute.
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| ISBN: | 1462342647
9781462342648
1451873441
9781451873443
1282844059
9781282844056
9786612844058
6612844051
1452779325
9781452779324
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| Digital file characteristics: | text file
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| Notes: | Includes bibliographical references.
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2011.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2011 HathiTrust Digital Library committed to preserve
Print version record.
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| 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 capital investments. A timely return to pre-crisis levels of capital investment would require that U.S. households save substantially more than the model predicts, starting now. Hence, we should fret that our savings rates may be too low
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| Other form: | Print version: Abdih, Y. (Yasser). Frugality. [Washington, D.C.] : International Monetary Fund, ©2009
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