Bloomberg interview: “Inflation Targeting Guru Finds System Has Withstood the Test,” March 19, 2018.
Category Archives: New
Monetary Policy and Macroprudential Policy: Different and Separate?
“Monetary Policy and Macroprudential Policy: Different and Separate?” Canadian Journal of Economics (2018) 51(3) 802-827. Paper. Published article.
Abstract
The paper discusses how monetary and macroprudential policies can be distinguished, how appropriate goals for the two policies can be determined, whether the policies are best conducted separately or coordinately and by the same or different authorities, and how they can be coordinated when desired. The institutional frameworks in Canada, Sweden, and the UK are briefly compared. The Swedish example of monetary policy strongly “leaning against the wind” and the consecutive policy turnaround is summarized, as well as what estimates have been found of the costs and benefits of leaning against the wind. Continue reading
Amorteringskraven: Inga sakliga skäl, men negativa konsekvenser
“Amorteringskraven: Inga sakliga skäl men negativa konsekvenser“, presentation på Bankföreningens lunchseminarium, 20 februari 2018.
Hur amorteringskraven drabbar unga som vill köpa en etta II: ”Flertalet omfattas inte” eller ”alla drabbas”?
“Hur amorteringskraven drabbar unga som vill köpa en etta II: ‘Flertalet omfattas inte’ eller ‘alla drabbas’?” (“How amortization requirements hurt young buyers of studios II: ‘Most not affected’ or ‘all hurt’?” in Swedish), Ekonomistas post, February 20, 2018.
Hur amorteringskraven drabbar unga som vill köpa en etta I
“Hur amorteringskraven drabbar unga som vill köpa en etta I” (“How amortization requirements hurts young buyers of studios,” in Swedish), Ekonomistas post, February 19, 2018.
Interview in Dagens Industri, February 21, 2018.
Amorteringskraven ökar obalanserna på bostadsmarknaden
“Amorteringskraven ökar obalanserna på bostadsmarknaden” (“Amortization requirements increase housing-market imbalances,” in Swedish), Ekonomistas post.
Studiosamtal om kreditrestriktioner och svenskarnas skuldsättning
Studiosamtal mellan Stefan Attefall och mig om kreditrestriktioner och svenskarnas skuldsättning, Bostadspolitik.se (in Swedish). Continue reading
Amortization requirements benefit well-off and hurt liquidity-constrained housing buyers
“Amortization Requirements Benefit Well-Off and Hurt Liquidity-Constrained Housing Buyers,” February 2018. Paper. Ekonomistas post (Swedish) Continue reading
The Relation between Monetary Policy and Financial-Stability Policy
“The Relation between Monetary Policy and Financial-Stability Policy,” in Aguirre, Brunnermeier, and Saravia, eds. (2019), Monetary Policy and Financial Stability: Transmission Mechanisms and Policy Implications, Banco Central de Chile, pp. 283–310. Preliminary version presented at the XXI Annual Conference of the Central Bank of Chile, “Monetary Policy and Financial Stability: Transmission Mechanisms and Policy Implications,” Santiago, Chile, November 16-17, 2017. Paper. Slides pdf pptx. Conference. Video.
Monetary Policy and Macroprudential Policy: Which One to Use for What?
“Monetary Policy and Macroprudential Policy: Which One to Use for What?” presentation at the Bank of England, Hong Kong Monetary Authority, and IMF conference on Monetary, Financial, and Prudential Policies in the Post-Crisis World, Washington, DC, November 8-9, 2017. Slides.
Intervju i SVT Aktuellt om bostadspriser, skulder och skärpt amorteringskrav
Intervju i SVT Aktuellt, 3 november 2017, kl. 21.
SVTPlay (intervjun börjar efter 9 min 25 sek).
Utskrift av intervjun [med några språkliga rättelser]: Continue reading
Höga bostadspriser och ökande skulder inget skäl för skärpt amorteringskrav
“Höga bostadspriser och ökande skulder inget skäl för skärpt amorteringskrav” (“High housing prices and increasing debt no reason for stricter amortization requirements”, in Swedish), Ekonomistas post, October 30, 2017.
Article in Dagens Industri (in Swedish), October 31, 2017.
Interview in SVT Aktuellt (in Swedish), November 3.
SVTPlay (Interview starts after 9 min 25 sek).
Previous related Ekonomistas posts (in Swedish):
“Finansinspektionens två argument för skärpt amorteringskrav håller inte: (1) Räntekänsligheten”
“FI:s andra argument håller inte heller: (2) Inkomstkänsligheten”
Remissvar med (consultation response, in Swedish, with) Peter Englund
Intervju i Dagens Nyheter: Ingves borde inte ha fått stanna som riksbankschef
“Ingves borde inte ha fått stanna som riksbankschef“, (“Ingves should not have been allowed to stay as Governor,” in Swedish), interview in Dagens Nyheter, October 18, 2017.
What rule for the Fed? Forecast targeting
“What Rule for the Fed? Forecast Targeting”, International Journal of Central Banking 16 (December 2020) 39-95. Paper.
Previous version presented at the Federal Reserve Bank of Boston’s 61st Economic Conference, “Are Rules Made to be Broken? Discretion and Monetary Policy,” October 13–14, 2017. Slides. Conference. Continue reading
Interest rates during and after the crisis: Leaning against the wind, or not?
“Interest rates during and after the crisis: Leaning against the wind, or not?”, keynote address at the workshop on “Interest rates after the financial crisis,” Örebro University and Kommuninvest, Örebro, October 3, 2017. Slides.