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dc.contributor.authorGulbrandsen, Magnus Andreas Haare
dc.contributor.authorNatvik, Gisle James
dc.date.accessioned2021-01-06T12:21:02Z
dc.date.available2021-01-06T12:21:02Z
dc.date.created2020-09-10T11:13:44Z
dc.date.issued2020
dc.identifier.citationNordic Economic Policy Review. 2020, 67-99.en_US
dc.identifier.issn1904-4526
dc.identifier.urihttps://hdl.handle.net/11250/2721713
dc.description.abstractWe address the interplay between household debt accumulation and monetary policy. Monetary policy likely affects household debt-to-income ratios via disposable income and inflation, not just by changing the financial incentive to save. We provide micro-level snapshots from Norway on how households’ income flows and debt accumulation co-move with interest rates and inflation. Real interest rate hikes are associated with increased real debt due to strong negative association between inflation and real debt. We therefore caution against pursuing contractionary policies to curb household debt. By lowering inflation, such policies might backfire and increase household debt burdens.en_US
dc.language.isoengen_US
dc.publisherNordic Council of Ministersen_US
dc.relation.urihttps://norden.diva-portal.org/smash/get/diva2:1440691/FULLTEXT01.pdf
dc.titleMonetary Policy and Household Debten_US
dc.typeJournal articleen_US
dc.typePeer revieweden_US
dc.description.versionpublishedVersionen_US
dc.source.pagenumber67-99en_US
dc.source.journalNordic Economic Policy Reviewen_US
dc.identifier.doi10.6027/Nord2020-025
dc.identifier.cristin1828666
dc.relation.projectNorges forskningsråd: 287720en_US
cristin.ispublishedtrue
cristin.fulltextpostprint
cristin.qualitycode1


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