01764cas a2200265 a 4500 AALejournalIMF007978 230101c9999 xx r poo 0 0eng d 5.00 USD 9781455222964 2617-6742 BD-DhAAL BD-DhAAL Lee, Jaewoo. U.S. Consumption after the 2008 Crisis / Jaewoo Lee, Pau Rabanal, Damiano Sandri. Washington, D.C. : International Monetary Fund, 2010. 1 online resource (23 pages) IMF Staff Position Notes <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Mode of access: Internet Rabanal, Pau. Sandri, Damiano. IMF Staff Position Notes; Staff Position Note ; No. 2010/001 Full text available on IMF http://elibrary.imf.org/view/journals/004/2010/001/004.2010.issue-001-en.xml IMF e-Library