摘要：Household debt in Norway has increased substantially since the 1980s. This article uses microdata to describe
developments in household debt, income and financial assets from 1986 to 2003. Our findings show that an
increase in average debt, the number of households and the share of indebted households has contributed to
the increase in debt since 1986. Most households have a moderate or low debt-to-income ratio. Debt among
households with a high debt-to-income ratio was reduced as a percentage of total debt after the banking
crisis in 1988-1992, but these developments have been reversed since 1998. This primarily reflects strong
debt growth among young households. Our analysis shows that financial assets have primarily increased in
households without debt or with a low debt-to-income ratio. The accumulation of financial wealth can there-
fore only to a limited extent be regarded as a buffer against increases in interest expenses.
