After the crisis : lower consumption growth but narrower global imbalances? /

After the crisis : lower consumption growth but narrower global imbalances? /

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Bibliographic Details
Author / Creator:	Mody, Ashoka, author.
Imprint:	[Washington, D.C.] : International Monetary Fund, [2010], ©2009.
Description:	1 online resource (31 pages) : color illustrations
Language:	English
Series:	IMF working paper ; WP/10/11 IMF working paper ; WP/10/11.
Subject:	Consumption (Economics) -- Developed countries -- Econometric models. Balance of payments -- Developed countries -- Econometric models. Balance of payments -- Econometric models. Consumption (Economics) -- Econometric models. Developed countries.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12499623

Hidden Bibliographic Details
Other authors / contributors:	Ohnsorge, Franziska, author. International Monetary Fund. European Department, issuing body.
ISBN:	1283564750 9781283564755 9781451961966 1451961960
Notes:	At head of title: European Department. "January 2010." Includes bibliographical references (pages 16-17). 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 digitized 2011 HathiTrust Digital Library committed to preserve Print version record.
Summary:	We estimate consumption dynamics in the G-7 economies, paying particular attention to the possibility of precautionary behavior in the face of uncertainty. We find that in the short run, continued income uncertainty will significantly dampen consumption growth. As such, consumption in the G-7 economies is unlikely to be the engine that revives global growth. Differences in the pace and timing of consumption moderation have implications for the evolution of global imbalances. With the U.S. experiencing a sharper rise in unemployment and, perhaps, more widespread loss of financial wealth than elsewhere in the G-7, the relative rise of the U.S. savings rate is helping narrow global imbalances. But with a likely earlier recovery in the U.S., this narrowing could be short-lived. Moreover, long-term differences- in economic and financial volatility and in demographic structures-have been an important source of the imbalances and could soon reassert their prominence.
Other form:	Print version: Mody, Ashoka. After the crisis. [Washington, D.C.] : International Monetary Fund, [2010], ©2009

Description
Summary:	We estimate consumption dynamics in the G-7 economies, paying particular attention to the possibility of precautionary behavior in the face of uncertainty. We find that in the short run, continued income uncertainty will significantly dampen consumption growth. As such, consumption in the G-7 economies is unlikely to be the engine that revives global growth. Differences in the pace and timing of consumption moderation have implications for the evolution of global imbalances. With the U.S. experiencing a sharper rise in unemployment and, perhaps, more widespread loss of financial wealth than elsewhere in the G-7, the relative rise of the U.S. savings rate is helping narrow global imbalances. But with a likely earlier recovery in the U.S., this narrowing could be short-lived. Moreover, long-term differences- in economic and financial volatility and in demographic structures-have been an important source of the imbalances and could soon reassert their prominence.
Item Description:	At head of title: European Department. "January 2010."
Physical Description:	1 online resource (31 pages) : color illustrations
Format:	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.
Bibliography:	Includes bibliographical references (pages 16-17).
ISBN:	1283564750 9781283564755 9781451961966 1451961960