“Can monetary policy still deliver? A natural experiment,” panel discussion at the 4th Oxford-Federal Reserve Bank of New York Monetary Policy Conference, Trinity College, Oxford, September 27-28, 2018. Slides pdf powerpoint
Monetary Policy and Fiscal Policy in a Nash Equilibrium
“Monetary Policy and Fiscal Policy in a Nash Equilibrium,” panel contribution in the panel “Interaction between Monetary and Fiscal Policies under Inflation Targeting” at the Annual NBU-NBP Research Conference, “Interaction of Fiscal and Monetary Policies,” Kyiv, Ukraine, May 31-June 1, 2018. Slides.
The Future of Monetary Policy and Macroprudential Policy
Intervju i Svenska Dagbladet
Intervju i Svenska Dagbladet, 26 april, 2018.
Panel on Flexible Inflation Targeting at IMF’s Spring Meeting
Panel participation in seminar on Flexible Inflation Targeting at the IMF Spring Meeting, April 18, 2018, with Greg IP, Wall Street Journal as moderater; Tobias Adrian, IMF; Ilan Goldfajn, Central Bank of Brazil; Zdenek Tumame, previously at the Czech National Bank; Ksenia Yudaev, Central Bank of Russia; and me. My contribution are at the times 22:10, 44:50, and 48:45 in the video.
Bloomberg interview: Inflation targeting guru finds system has withstood the test
Bloomberg interview: “Inflation Targeting Guru Finds System Has Withstood the Test,” March 19, 2018.
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.