New interview in Bloomberg: “Riksbanker who left in protest says untried steps only hope,” October 27, 2014.
In an interview today, April 16, in Svenska Dagbladet, Kenneth Rogoff is quoted as saying (my translation from Swedish):
“I know that there are commentators, such as Lars EO Svensson, who don’t believe that debt is affected by interest rates.”
It is wrong to say that I would believe that debt is not affected by interest rates. Instead, some of my work has dealt with precisely how monetary policy affects household indebtedness. For instance, this paper deals with how monetary policy affects real debt and the debt-to-GDP ratio.
My view, and the result of the Riksbank’s own calculations (se here and here), is that the impact of monetary policy on household real debt and debt ratios in Sweden is normally very small (and may even be of either sign). The impact on any risks associated with household debt is negligible. Therefore, monetary policy in Sweden should focus on the traditional objectives of monetary policy, namely to stabilize inflation around the inflation target and unemployment around a long-run sustainable rate.
New interview in Svenska Dagbladet, April 4, 2014: “Professorn läxar upp Riksbanken” (“The professor berates the Riksbank,” in Swedish).
Interview in Svenska Dagbladet, paper edition, January 16, 2014: “It has been different in other countries” (in Swedish).
Interview by Radio Sweden (in English), January 15, 2016.
Interview in Svenska Dagbladet, January 14, 2013 (in Swedish).
New TV interview in SVT Aktuellt, September 30, 2013: “Compulsory amortization is criticized.”
New TV interview (in Swedish): “Penningpolitiken kunde varit bättre“, EFN Web-TV, Almedalen, 5 juli 2013
Interview in Svenska Dagbladet, May 18, 2013 (in Swedish).
Interview in Dagens Nyheter, May 16, 2013 (in Swedish)
“Inga tecken på bostadsbubbla” (“No sign of a housing bubble”, in Swedish), interview in Svenska Dagbladet, November 14, 2012
Rättelse i papperstidningen (web-versionen är korrekt): Slutet i svaret på andra frågan skall vara “Skulle man höja räntan med 1 procentenhet skulle bostadspriserna falla med 1–3 procent. Däremot skulle BNP samtidigt falla ordentligt, nästan 2 procent, och arbetslösheten öka ordentligt, nästan 1 procentenhet.” (Siffrorna 6 och 3 i papperstidningen istället för 2 och 1 gäller om styrräntan höjs så mycket att bostadspriserna faller med 10 procent istället för med 3 procent.)
Ekots lördagsintervju (Swedish Radio News Saturday Interview, in Swedish), Saturday, September 22, 2012, at 12:55 pm
Interview: Dagens Nyheter, August 10, 2012 (in Swedish): “The fight that divides the Riksbank” (“Striden som splittrar Riksbanken”).
Interview in Dagens Nyheter, August 10, 2012 (in Swedish).