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Global Financial Stability: What
Role for the IMF?
By Dean Baker
Co-Director of the
Center for Economic and Policy Research (CEPR)
Thursday, October 9, 2008
19
49
19
52
19
55
19
58
19
61
19
64
19
67
19
70
19
73
19
76
19
79
19
82
19
85
19
88
19
91
19
94
19
97
20
00
20
03
20
06
Percent of 1954$ (1st Quarter)
Real House Prices and Rent, 1947-2008
200
180
160
140
120
100
80
60
Year
House Prices
Rent
19
70
19
72
19
74
19
76
19
78
19
80
19
82
19
84
19
86
19
88
19
90
19
92
19
94
19
96
19
98
20
00
20
02
20
04
20
06
Percent
Savings as a Percent of Disposable Income
12
10
8
6
4
2
0
19
56
19
59
19
62
19
65
19
68
19
71
19
74
19
77
19
80
19
83
19
86
19
89
19
92
19
95
19
98
20
01
20
04
20
07
20
08
-2
Percent
Vacancy Rates
12
10
8
6
4
2
0
Rental
Ownership
Offsetting a Trade Deficit that is 5.7
Percent of GDP
10
8
6
Percent
4
2
0
1
2
-2
-4
-6
-8
-10
Savings Rate
Government Deficit (share of GDP)
3