A speech, with several references to the Swedish experience, of John Williams, President of the Federal Reserve Bank of San Francisco, on May 27, 2015. Here is the part that refers to Sweden: Continue reading
Chair Janet Yellen on the recent Swedish experience of Riksbank policy tightening, in a speech at the conference “The New Normal for Monetary Policy,” Federal Reserve Bank of San Francisco, March 27, 2015:
The experience of Japan over the past 20 years, and Sweden more recently, demonstrates that a tightening of policy when the equilibrium real rate remains low can result in appreciable economic costs, delaying the attainment of a central bank’s price stability objective.
In June 2009 I gave a speech at a conference at the Federal Reserve Board, Washington DC, and argued that the effective lower bound for the policy rate was not zero but negative, and not hard but soft. The speech was published in Journal of Money, Credit and Banking 2010.
“Low Inflation Calls for Patience in Normalizing Monetary Policy,” speech by Charles Evans, President of the Federal Reserve Bank of Chicago, on March 4, 2015.
“Practical Monetary Policy: Why Has the Riksbank’s Policy-Rate Path Been So High, and Why Did this Not Prevent the Recovery?”, keynote lecture at the National Conference of Swedish Economists, Uppsala University, September 17, 2011. Summary: English • Swedish • Slides. Background paper (for the Brookings Panel on Economic Activity, Fall 2011, published in Brookings Papers on Economic Activity, Fall 2011, 289-332)