Financial Deregulation and Household Saving. The Norwegian Experience Revisited

Elin Halvorsen ()
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Elin Halvorsen: Statistics Norway, https://www.ssb.no/en/forskning/ansatte

Discussion Papers from Statistics Norway, Research Department

Abstract: I use new micro data to study the effects of credit deregulation on the Norwegian household savings decline in the mid-1980s. This paper has three main findings. First, the decline in saving started in 1983, a couple of years earlier than previously thought on the basis of National Accounts data. Second, it was primarily young and middle-aged households who increased their consumption. Finally, the rapid increase in housing prices in 1985-86 may have been an important determinant of older and retired households' saving through reversed mortgages, but cannot on its own explain the decline in savings that started in 1983.

Keywords: Saving; consumption; financial deregulation; wealth effects and house prices. (search for similar items in EconPapers)
JEL-codes: D91 E21 E44 (search for similar items in EconPapers)
Date: 2003-10
New Economics Papers: this item is included in nep-com, nep-eec, nep-his, nep-mac and nep-reg
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Persistent link: https://EconPapers.repec.org/RePEc:ssb:dispap:361

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