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Inflation, capital markets and household saving in Nordic countries

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  • Koskela, Erkki
  • Virén, Matti

Abstract

Household saving ratios in the Nordie eountries are very low by intemational standards and have declined markedly during the 1980s. Aggregate quarterly time-series data for the period 1970-1989 are used to study the development of household saving behavior over time. The evidenee suggests that the household saving ratio responds positively to both the infiation rate and real ineome growth. There is also some weak evidenee to support the view that the rate of ehange in real housing priees has a negative effeet on household saving ratios.

Suggested Citation

  • Koskela, Erkki & Virén, Matti, 1992. "Inflation, capital markets and household saving in Nordic countries," Bank of Finland Research Discussion Papers 4/1992, Bank of Finland.
    • Handle: RePEc:zbw:bofrdp:rdp1992_004
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    References listed on IDEAS

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    3. James A. Wilcox, 1989. "Liquidity constraints on consumption: the real effects of \"real\" lending policies," Economic Review, Federal Reserve Bank of San Francisco, issue Fall, pages 39-52.
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    5. Deaton, Angus S, 1977. "Involuntary Saving through Unanticipated Inflation," American Economic Review, American Economic Association, vol. 67(5), pages 899-910, December.
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