{"product_id":"9781452746289","title":"U.S. Consumption after the 2008 Crisis","description":"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.","brand":"INTERNATIONAL MONETARY FUND","offers":[{"title":"Default Title","offer_id":47155170312432,"sku":"9781452746289","price":4.49,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0737\/7593\/9824\/files\/9781452746289_p0.jpg?v=1763847845","url":"https:\/\/shop-qa.barnesandnoble.com\/products\/9781452746289","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}