Discussion (slides) of Filardo and Rungcharoenkitkul, “Quantitative case for leaning-against-the-wind,” CCBS Research Forum on Macro Finance, Bank of England, London, May 26-27, 2016.
Monthly Archives: May 2016
Interview in Svenska Dagbladet: Today’s negative interest rate is needed because the rate was hiked too fast earlier
Interview in Svenska Dagbladet, May 23, 2016 (in Swedish)
FOMC minutes: Costs of leaning against the wind typically outweigh benefits
FOMC April 26-27 minutes on the relationship between monetary policy and financial stability (pp. 2-3):
Most participants judged that the benefits of using monetary policy to address threats to financial stability would typically be outweighed by the costs associated with deviations from the Committee’s employment and price-stability objectives induced by such actions; some also noted that the benefits are highly uncertain.
The recent Swedish experience of monetary and macroprudential policy
“The Recent Swedish Experience of Monetary Policy and Macroprudential Policy,” slides presented at Finansbolagens informationsmöte, Grand Hotel, Stockholm, May 20, 2016.
Questions to Goodfriend and King, King’s (misleading) reply, and my response
Substantially revised and updated on May 15, 2016.
On Thursday, May 12, the Finance Committee of the Riksdag had a hearing on the review by Marvin Goodfriend and Mervyn King of Swedish monetary policy. I had the opportunity of asking some questions at the hearing. They were: Continue reading
Promoting financial stability: The roles of macroprudential and monetary measures
“Promoting Financial Stability: The Roles of Macroprudential and Monetary Measures,” slides for panel presentation at the BoC-CIGI-IMF-PIEE Workshop on “Re-inventing the Role of Central Banks in Financial Stability,” Ottawa, May 5-6, 2016.