Financial Deregulation and Household Saving. The Norwegian Experience Revisited
AbstractI 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.
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Bibliographic InfoPaper provided by Research Department of Statistics Norway in its series Discussion Papers with number 361.
Date of creation: Oct 2003
Date of revision:
Saving; consumption; financial deregulation; wealth effects and house prices.;
Find related papers by JEL classification:
- D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving
- E21 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
- E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-06-02 (All new papers)
- NEP-COM-2003-11-23 (Industrial Competition)
- NEP-EEC-2004-06-02 (European Economics)
- NEP-HIS-2003-11-23 (Business, Economic & Financial History)
- NEP-MAC-2003-11-23 (Macroeconomics)
- NEP-REG-2004-06-02 (Regulation)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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