Browsing by Subject "households"

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Now showing items 21-26 of 26
  • Jalasjoki, Pirkka; Kärkkäinen, Samu; Vanhala, Juuso (2021)
    Bank of Finland. Bulletin 3/2021
    A large number of firms fell into distress due to the COVID-19 pandemic and many households have been significantly affected by furloughs and lay-offs. However, the non-financial corporations sector improved its overall profitability in 2020, and the household sector as a whole accrued savings. At the same time, the general government deficit widened. Although these developments were influenced by the substantial rise in general government subsidies, social benefits and other support in 2020, this alone would not account for the other sectors’ strengthening their financial position. The positive developments in the household and non-financial corporations sectors nevertheless hide large differences within the sectors themselves.
  • Putkuri, Hanna (2017)
    Bank of Finland. Bulletin 2/2017
    Household debt relative to income is currently at a record high in Finland and Sweden. High household indebtedness exposes both the financial system and the economy to risks. In Finland, home loans are typically paid off faster than in Sweden, which makes an average Finnish household with a mortgage less indebted. The comparison does not, however, dissipate national concerns. Rather, it shows that, if Finland follows the path that Sweden has taken, it would further increase both debt levels and risks.
  • Aaltonen, Markus (2021)
    Bank of Finland. Bulletin 1/2021
    The stock of buy-to-let mortgages stood at EUR 8.1 billion at the end of March 2021, comprising 7.9% of the total stock of housing loans. It is estimated that buy-to-let mortgages have grown faster than the rest of the housing loan stock since the global financial crisis. Buy-to-let mortgages are smaller than residential mortgages and have shorter repayment periods. In March 2021 the average interest rate applied on new buy-to-let mortgages was higher than on residential mortgages, but lower than the rate applied on housing company loans.
  • Bank of Finland (2016)
    Bank of Finland. Bulletin 3/2016
    The Finnish economy is returning to growth. Economic data have strengthened, and leading indicators suggest growth continuing through the forecast years. However, this growth is entirely dependent on domestic demand, and net exports remain weak. The Finnish economy is still lagging behind activity in the rest of the euro area, and real GDP will not recover its pre-financial crisis level even by the end of the forecast period. Meanwhile, the increasing role of the service sector in the economy slows productivity growth and the decline in the working-age population also dampens longer-term prospects. The Bank of Finland forecast foresees 1.1% GDP growth in 2016. The economy will continue to grow by 1.1% in 2017 and 1.0% in 2018.
  • Putkuri, Hanna (2019)
    Bank of Finland. Bulletin 2/2019
    Financial and economic crises have often been preceded by excessive debt accumulation by households.
  • Putkuri, Hanna (2018)
    Bank of Finland. Bulletin 2/2018
    Finland's house prices have diverged regionally over the past decade, particularly between the Helsinki metropolitan area and the rest of the country. Regional disparities on the housing market are also reflected in the amount of housing debt held by households. Housing loans are large and have grown in absolute terms as well as relative to income, especially in growth centres, where housing is more expensive and subject to greater pressures from demand. Simultaneous growth in house prices and housing debt, if excessive, can pose a threat to the stability of the financial system.