UID:
almafu_9958104843802883
Umfang:
1 online resource (120 p.)
ISBN:
9781475579901
,
147557990X
,
9781475527421
,
147552742X
,
9781299264229
,
1299264220
,
9781475542509
,
147554250X
Serie:
IMF Staff Country Reports
Inhalt:
This Selected Issues paper for the United States discusses the microeconomics of the country—household wealth and savings. Households’ consumption-saving decisions have an important bearing on the U.S. economic outlook. This paper demonstrates how households with consistently lower income, which have shown growth in the years prior to the crisis, experienced larger declines in their saving rates and a larger rise in their indebtedness before the crisis, contributing significantly to the dynamics of the mean saving rate.
Anmerkung:
"August 2012."
,
Cover; Contents; I. U.S. Household Wealth and Saving: The Micro Story Behind the Macro Dynamics; A. Introduction; B. Data; Structure and Content of the Dataset; Representativeness of the Survey; Average Savings and Wealth in the PSID; C. Saving Behavior Before the Crisis-Did Income Growth Matter?; Figures; I.1. Saving Rates by Income Growth over 1999-2007; D. The Role of Housing; I.2. Saving Rates for Households with Varying Dependence on Housing Wealth; E. Did Households with Higher Debt Burdens in 2007 Become more Thrifty After the Crisis?; I.3. Saving Rates and Indebtedness in 2007
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F. ConclusionsTables; I.1. Summary of Income and Wealth Distribution; I.2. Means of PSID Household Income, Savings, and Net Worth; Appendices; I.1. Distribution of Households Across the Income, Housing-Dependency, and Debt-to- Income Ratio Categories; Appendix Table; I.1. Distribution of the Households Across the Income-Growth, Income-Level, Housing- Dependency, and Debt-to-Income Ratio Groups; II. The Residential Construction Sector: When Will it Emerge from its Rubble?; A. Introduction; B. A Stock-Flow Model and Estimates of Excess in Housing; Equilibrium Occupancy Ratio
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Equilibrium Vacancy RatioII.1. Actual and Equilibrium Number of Occupied Units; The Overall Excess Housing Stock; II.2. Actual and Equilibrium Number of Vacant Units; II.3. Overall Excess Inventory; Factoring in the Shadow Vacancy; C. Recovery in Household Formation; II.1. Determinants of Household Formation; II.4. Scenario for Household Formation; II.5. Household Formation and Employment During Past Housing Cycles; D. Putting the Pieces Together; E. Other Considerations; Geographical Heterogeneity; II.6. Housing Starts Projections; II.7. The Heterogeneity of Excess Vacancy
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II.8. Excess Vacancy and ConstructionDifferentiating Between the Ownership and Rental Markets; II.9. Homeownership Rate; II.10. Projections for Housing Starts; F. Conclusion; III. Output Losses Following Financial Crises-A Sensitivity Analysis; A. Introduction; B. Analysis; Revised Data; III.1. Output Evolution after Banking Crises; III.2. Output Evolution after Banking Crises; Omitting Negative Trends; Limiting the Analysis to Advanced Economies; III.3. Output Evolution after Banking Crises; III.4. Advanced Economies' Output after Banking Crises
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Using Different Trend Definitions and Using a Longer Post Recession WindowC. U.S. Episodes: The Great Depression, the S&L Crisis, and the Great Recession; D. Conclusion; III.5. Evolution of Advanced Economies' Output Following Financial Crises Under Alternate Trend Definitions; III.6. The Great Depression, S&L Crisis, and the Great Recession; III.1. Financial Crises in the Sample; IV. Is Long-Term Unemployment Pushing Up Structural Unemployment?; A. Introduction; B. Who are the Long-Term Unemployed?; C. Is there Evidence that the Long-Term Unemployed are Becoming Less Employable?
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D. Conclusions and Policy Recommendations
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English
Weitere Ausg.:
ISBN 9781475504910
Weitere Ausg.:
ISBN 1475504918
Sprache:
Englisch
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