“The Relation between Monetary Policy and Financial-Stability Policy,” paper 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?” 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.
“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.
“Transparency and Communication with Forecast Targeting,” presentation (slides) at “Monetary Policy Framework Issues: Toward the 2021 Inflation-Target Renewal,” a workshop at Bank of Canada, September 14, 2017. Video.
“Commentary on Monetary Policy and Financial Stability” (slides), presented at “Challenges to Financial Stability in a Low Interest Rate World,” Annual International Journal of Central Banking Research Conference, Federal Reserve Bank of San Francisco, November 21-22, 2016.
Published as “Leaning Against the Wind: Costs and Benefits, Effects on Debt, Leaning in DSGE Models, and a Framework for Comparison of Results,” International Journal of Central Banking 13 (September 2017) 385-408.
“Should Monetary Policy Take Financial-Stability Considerations into Account at the ELB?”, panel presentation (slides) at the First ECB Annual Research Conference, “Monetary Policy and Financial Stability in a Low Interest Rate Environment,” Frankfurt, September 28-29, 2016.
“The Recent Swedish Experience of Monetary Policy and Macroprudential Policy,” slides presented at Riksrevisionen (The Swedish National Audit Institution), Stockholm, August 30, 2016.
“The Recent Swedish Experience of Monetary Policy and Macroprudential Policy,” slides presented at Finansbolagens informationsmöte, Grand Hotel, Stockholm, May 20, 2016.
“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.
“The Rationale for Macroprudential Policy,” slides for opening speech at the First Annual ECB Macroprudential Policy and Research Conference, April 26-27, 2016.
Background paper 1. “Monetary policy and macroprudential policy: Different and separate.”
Background paper 2. “Cost-Benefit Analysis of Leaning Against the Wind : Are Costs Larger Also with Less Effective Macroprudential Policy?“
“Should monetary policy ever lean against the wind?“, slides for presentation at the conference “The ECB and Its Watchers XVII” organized by the Center for Financial Studies and the Institute for Monetary and Financial Stability, Frankfurt, April 7, 2016.
Panel discussion, “Optimal Design for Monetary Policy in the Post Crisis Period” (slides), at the conference “Monetary Policy Implementation and Transmission in the Post-Crisis Period,” Federal Reserve Board, Washington, DC, November 12-13, 2015.
Excel sheet used in slide 5 for the simple example of a cost-benefit analys of leaning against the wind.