Does Norway Save Too Much?
Øystein Olsen, governor of the Central Bank of Norway, presented a speech on “Does Norway Save Too Much?” on March 22, 2018, at the Peterson Institute. The governor provided insights into the economic policy strategy of resource-rich Norway to transform its oil and gas reserves into financial assets for both macroeconomic management and intergenerational purposes. In this context, he also discussed the related oil fund mechanism and fiscal rule.
Governor Olsen was appointed in January 2011 to lead Norges Bank for a 6-year term. Immediately prior, Governor Olsen was director general at Statistics Norway from 2005 to 2010. He was previously director general of the Economic Policy Department at the Norwegian Ministry of Finance from 1999 to 2005.