It is shown that the Novikov inequalities for critical points of closed
1-forms hold with the von Neumann Betti numbers replacing the Novikov numbers.
As a corollary we obtain a vanishing theorem for $L^2$ cohomology, generalizing
a theorem of W. Lueck. We also prove that von Neumann Betti numbers coincide
with the Novikov numbers for free abelian coverings.