Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/192343 
Authors: 
Year of Publication: 
2003
Series/Report no.: 
Discussion Papers No. 361
Publisher: 
Statistics Norway, Research Department, Oslo
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.
Subjects: 
Saving
consumption
financial deregulation
wealth effects and house prices.
JEL: 
D91
E21
E44
Document Type: 
Working Paper

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