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U.S. Private Savings Crisis

Author: United States. Congress. Senate. Committee on Finance. Subcommittee on Deficits, Debt Management, and Long-term Economic Growth
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 108

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U.S. Private Savings Crisis

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U.S. Private Savings Crisis

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The Decline in Saving

Author: Barry P. Bosworth
Publisher: Brookings Institution Press
ISBN: 0815721366
Category : Business & Economics
Languages : en
Pages : 146

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Longtime Brookings economist and former presidential adviser Barry Bosworth examines why saving rates in the United States have fallen so precipitously over the past quarter century, why the initial consequences were surprisingly benign, and how reduced saving will affect the future well-being of Americans. The Decline in Saving provides an extensive and unparalleled account of the complexity of present saving patterns, an issue made even more serious by the 2008–09 global economic and financial crises. It objectively examines saving at both the individual household and the aggregate economy levels to understand whether the U.S. decline in saving is truly a threat to American prosperity. Highlights from The Decline in Saving: "The magnitude of the two-decade-long fall in household saving has been truly astonishing; it is even more surprising in view of the fact that the large cohort of baby boomers should have been in their peak saving years." "If Americans save so little, why are they so rich? This divergence emerges because the conventional measure of saving excludes all forms of capital gains...." "Saving behavior appears to be influenced in important ways by country-specific institutional factors along with a few common determinants, such as income growth, demographic changes, and variations in private wealth." "In the aggregate, the United States has had a negative net national saving rate since the onset of the financial crisis, and it now relies on foreign resource inflows to finance all its capital accumulation and a portion of its consumption." "The optimistic projections of just a few years ago about the future well-being of retirees now seem seriously dated."

U.S. Private Savings Crisis

Author: United States Congress Senate Comm
Publisher: Legare Street Press
ISBN: 9781020797941
Category :
Languages : en
Pages : 0

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This book is a record of the hearing before the Subcommittee on Deficits, Debt Management, and Long-Term Economic Growth of the Committee on Finance, United States Senate, held during the One Hundred Third Congress. The hearing examined the private savings crisis in America and its impact on the long-term economic outlook. The book contains insights and recommendations from industry leaders, experts, and lawmakers on measures to address the crisis. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

U. S. Private Savings Crisis Long-Term Economic Implications and Options for Reform

Author: United States Congress Senat Deficits
Publisher: Forgotten Books
ISBN: 9780484243032
Category : Business & Economics
Languages : en
Pages : 110

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Excerpt from U. S. Private Savings Crisis Long-Term Economic Implications and Options for Reform: Hearing Before the Subcommittee on Deficits, Debt Management, and Long-Term Economic Growth of the Committee on Finance, United States Senate, One Hundred Third Congress, Second Session, December 7, 1994 Senator bradley. The subcommittee will come to order. I would like to welcome all of our panelists and guests today to the sub committee. This is the second hearing that the subcommittee has held on the issue of savings and retirement security. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

The U.S. Personal Saving Rate

Author: Mr.Sam Ouliaris
Publisher: International Monetary Fund
ISBN: 1484357949
Category : Business & Economics
Languages : en
Pages : 34

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This paper develops a time series model for aggregate consumption to predict the U.S. personal saving rate. It then uses the model to test whether there has been a structural break in consumption behavior because of the 2008 financial crisis. Before the crisis, the personal saving rate was trending downwards. However, in 2008 there was a significant rise in the saving rate that continued until the end of 2012, suggesting a permanent change in household behavior. To assess this issue formally, the unknown parameters of the model are estimated using data for 1961Q1-2007Q4, a period which precedes the crisis. The model is then used to predict the saving rate from 2008Q1 onwards and to assess whether the rise in the saving rate after 2008 was due to sizable, but transitory, income/wealth shocks or to changes in the underlying elasticities between saving and its determinants (hence structural). The statistical evidence suggests there was no structural break in the household saving behavior, implying that the rise in the saving rate during 2008-2012 was caused by the negative shocks to income, employment and wealth. This result explains why the saving rate resumed its decline in 2013, as real disposable income, employment and net worth recovered. Assuming that the real growth in these determinants remains strong, the estimated model predicts continued negative pressures on the current account deficit and further external imbalances attributable to the U.S. household sector.

U.S. Private Savings Crisis

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The Financial Crisis Inquiry Report

Author: Financial Crisis Inquiry Commission
Publisher: Cosimo, Inc.
ISBN: 1616405414
Category : Political Science
Languages : en
Pages : 692

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Book Description
The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

Aging and the Macroeconomy

Author: National Research Council
Publisher: National Academies Press
ISBN: 0309261961
Category : Social Science
Languages : en
Pages : 230

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Book Description
The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.

Managing the Crisis

Author:
Publisher:
ISBN:
Category : Bank failures
Languages : en
Pages : 248

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Deals with the result of a study conducted by the FDIC on banking crisis of the 1980s and early 1990s. Examines the evolution of the processes used by FDIC and RTC to resolve banking problems, protect depositors and dispose of the assets of the failed institutions.