Series: IMF Working Papers
Author(s): Ashoka Mody , Damiano Sandri , and Franziska Ohnsorge
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 February 2012
Keywords: uncertainty, Great Recession, unemployment, disposable income, unemployment rate, income growth, labor income, Economic Growth of Open Economies,
Heightened uncertainty since the onset of the Great Recession has materially increased saving rates, contributing to lower consumption and GDP growth. Consistent with a model of precautionary savings in the face of...