Discussion Papers no. 361

The Norwegian experience revisited

Financial deregulation and household saving

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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.

Om publikasjonen

Tittel

Financial deregulation and household saving. The Norwegian experience revisited

Ansvarlig

Elin Halvorsen

Serie og -nummer

Discussion Papers no. 361

Utgiver

Statistics Norway

Emne

Discussion Papers

Antall sider

30

Målform

Engelsk

Om Discussion Papers

Discussion papers comprise research papers intended for international journals and books. A preprint of a Discussion Paper may be longer and more elaborate than a standard journal article as it may include intermediate calculations, background material etc.

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