Alternative scenario : Households use their savings more quickly than anticipated

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Title: Alternative scenario : Households use their savings more quickly than anticipated
Author: Kärkkäinen, Samu ; Viertola, Hannu
Organization: Bank of Finland
Series: Bank of Finland. Bulletin
Series volume: 95
Series number: 3/2021
Year of publication: 2021
Publication date: 24.6.2021
Pages: 3-7
Subject (yso): kotitaloudet (organisaatiot); kulutus; pandemiat; säästöt; säästäminen
Keywords: Suomi; korona; koronapandemia
Other keywords: consumption; COVID-19; COVID-19 crisis; households; saving
Abstract: The COVID-19 pandemic and resulting lockdown measures have imposed severe constraints on the consumption opportunities of households, and demand has especially collapsed in a number of service industries. Households have accumulated a significant amount of savings since early 2020 due to the shortfall in consumption caused by the pandemic. The release of these savings into private consumption or housing demand over the next few years may result in economic growth proving much stronger than anticipated in the baseline forecast.
Note: The accessible version https://www.bofbulletin.fi/en/2021/3/households-use-their-savings-more-quickly-than-anticipated/
Link: http://www.bofbulletin.fi/
Rights: https://helda.helsinki.fi/bof/copyright


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