Details about Lars E.O. Svensson

Homepage:	https://larseosvensson.se/
Postal address:	Stockholm School of Economics Department of Economics P.O. Box 6501 SE-11383 Stockholm Sweden
Workplace:	Stockholm School of Economics, (more information at EDIRC)

Access statistics for papers by Lars E.O. Svensson.

Last updated 2023-03-16. Update your information in the RePEc Author Service.

Short-id: psv2

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Working Papers

2024

1. Is Swedish Household Debt Too High? Solvency, Liquidity, and Debt-Financed Overconsumption
   NBER Working Papers, National Bureau of Economic Research, Inc

2023

2. Are Swedish House Prices Too High? Why the Price-to-Income Ratio Is a Misleading Indicator
   NBER Working Papers, National Bureau of Economic Research, Inc

2021

3. Household Debt Overhang Did Hardly Cause a Larger Spending Fall during the Financial Crisis in Australia
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2021)
4. Household Debt Overhang Did Hardly Cause a Larger Spending Fall during the Financial Crisis in the UK
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2021)

2020

5. Macroprudential Policy and Household Debt: What is Wrong with Swedish Macroprudential Policy?
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
6. Monetary Policy Strategies for the Federal Reserve
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (38)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2019) View citations (13)
   See also Journal Article Monetary Policy Strategies for the Federal Reserve, International Journal of Central Banking, International Journal of Central Banking (2020) View citations (37) (2020)

2019

7. What Rule for the Federal Reserve? Forecast Targeting
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (7)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2017) View citations (3)
   See also Journal Article What Rule for the Federal Reserve? Forecast Targeting, International Journal of Central Banking, International Journal of Central Banking (2020) View citations (5) (2020)

2018

8. Monetary Policy and Macroprudential Policy: Different and Separate?
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (28)
   See also Journal Article Monetary policy and macroprudential policy: Different and separate?, Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons (2018) View citations (27) (2018)

2017

9. Cost-Benefit Analysis of Leaning Against the Wind
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (142)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2016) View citations (55)
   See also Journal Article Cost-benefit analysis of leaning against the wind, Journal of Monetary Economics, Elsevier (2017) View citations (136) (2017)
10. How Robust Is the Result That the Cost of "Leaning Against the Wind" Exceeds the Benefit? Response to Adrian and Liang
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (9)
11. How robust is the result that the cost of "leaning against the wind" exceeds the benefit?
    Working Paper Series, European Central Bank View citations (1)
12. Leaning Against the Wind: Costs and Benefits, Effects on Debt, Leaning in DSGE Models, and a Framework for Comparison of Result
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (9)
13. Leaning Against the Wind: The Role of Different Assumptions About the Costs
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2017) View citations (9)

2016

14. Amortization Requirements May Increase Household Debt: A Simple Example
    IMF Working Papers, International Monetary Fund View citations (4)
15. Cost-Benefit Analysis of Leaning Against the Wind: Are Costs Larger Also with Less Effective Macroprudential Policy?
    IMF Working Papers, International Monetary Fund View citations (65)

2015

16. Forward Guidance
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (11)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2014) View citations (3)

2013

17. Some Lessons from Six Years of Practical Inflation Targeting
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (30)
18. The Possible Unemployment Cost of Average Inflation below a Credible Target
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
    See also Chapter The Possible Unemployment Cost of Average Inflation below a Credible Target, NBER Chapters, National Bureau of Economic Research, Inc (2013) View citations (7) (2013)
    Journal Article The Possible Unemployment Cost of Average Inflation below a Credible Target, American Economic Journal: Macroeconomics, American Economic Association (2015) View citations (41) (2015)

2012

19. Central-banking challenges for the Riksbank: Monetary policy, financial-stability policy and asset management
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (7)
20. Practical Monetary Policy: Examples from Sweden and the United States
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
    See also Journal Article Practical Monetary Policy: Examples from Sweden and the United States, Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution (2011) View citations (46) (2011)

2011

21. Anticipated Alternative Instrument-Rate Paths in Policy Simulations
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (63)
    Also in 2009 Meeting Papers, Society for Economic Dynamics (2009) View citations (8)
    NBER Working Papers, National Bureau of Economic Research, Inc (2009) View citations (5)
22. Anticipated Alternative Policy-Rate Paths in Policy Simulations
    Working Paper Series, Sveriges Riksbank (Central Bank of Sweden) View citations (98)
    See also Journal Article Anticipated Alternative policy Rate Paths in Plicy Simulations, International Journal of Central Banking, International Journal of Central Banking (2011) View citations (91) (2011)
23. Optimal monetary policy in an operational medium-sized DSGE model
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) View citations (68)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2008) View citations (12)
    NBER Working Papers, National Bureau of Economic Research, Inc (2008) View citations (7)
    Working Paper Series, Sveriges Riksbank (Central Bank of Sweden) (2008) View citations (5)
    See also Journal Article Optimal Monetary Policy in an Operational Medium-Sized DSGE Model, Journal of Money, Credit and Banking, Blackwell Publishing (2011) View citations (69) (2011)

2010

24. Inflation Targeting
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (63)
    Also in Working Papers, Princeton University, Department of Economics, Center for Economic Policy Studies. (2007)
    See also Chapter Inflation Targeting, Handbook of Monetary Economics, Elsevier (2010) (2010)

2009

25. Evaluating Monetary Policy
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (15)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2009) View citations (15)
    Working Paper Series, Sveriges Riksbank (Central Bank of Sweden) (2009) View citations (15)
    See also Chapter Evaluating Monetary Policy, Book Chapters, Hoover Institution, Stanford University (2012) View citations (9) (2012)
26. Monetary Policy Trade-Offs in an Estimated Open-Economy DSGE Model
    Working Paper Series, Sveriges Riksbank (Central Bank of Sweden) View citations (3)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2008) View citations (1)
    NBER Working Papers, National Bureau of Economic Research, Inc (2008) View citations (1)
    See also Journal Article Monetary policy trade-offs in an estimated open-economy DSGE model, Journal of Economic Dynamics and Control, Elsevier (2014) View citations (24) (2014)
27. Transparency under Flexible Inflation Targeting: Experiences and Challenges
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (52)

2008

28. Current Account Dynamics and Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (52)
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2008) View citations (28)
    2008 Meeting Papers, Society for Economic Dynamics (2008) View citations (40)
    See also Chapter Current Account Dynamics and Monetary Policy, NBER Chapters, National Bureau of Economic Research, Inc (2007) View citations (7) (2007)
29. Optimal Monetary Policy Under Uncertainty in DSGE Models: A Markov Jump-Linear-Quadratic Approach
    Working Papers Central Bank of Chile, Central Bank of Chile View citations (11)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2008) View citations (9)
    See also Chapter Optimal Monetary Policy under Uncertainty in DSGE Models: A Markov Jump-Linear-Quadratic Approach, Central Banking, Analysis, and Economic Policies Book Series, Central Bank of Chile (2009) View citations (15) (2009)

2007

30. Bayesian and Adaptive Optimal Policy under Model Uncertainty
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (35)
    Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2006) View citations (5)
    2007 Meeting Papers, Society for Economic Dynamics (2007) View citations (24)
31. Monetary Policy with Model Uncertainty: Distribution Forecast Targeting
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (78)
    Also in Computing in Economics and Finance 2005, Society for Computational Economics (2005) View citations (55)
    NBER Working Papers, National Bureau of Economic Research, Inc (2005) View citations (62)
    Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank (2005) View citations (58)

2006

32. Monetary Policy and Japan's Liquidity Trap
    Working Papers, Princeton University, Department of Economics, Center for Economic Policy Studies.
33. Optimal Inflation Targeting: Further Developments of Inflation Targeting
    Working Papers Central Bank of Chile, Central Bank of Chile View citations (13)
    See also Chapter Optimal inflation Targeting: Further Developments of Inflation Targeting, Central Banking, Analysis, and Economic Policies Book Series, Central Bank of Chile (2007) View citations (18) (2007)
34. The Instrument-Rate Projection under Inflation Targeting: The Norwegian Example
    Working Papers, Princeton University, Department of Economics, Center for Economic Policy Studies. View citations (28)

2005

35. Monetary Policy with Judgement: Forecast Targeting
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (24)
    Also in MPRA Paper, University Library of Munich, Germany (2005) View citations (115)
    Working Paper Series, European Central Bank (2005) View citations (117)
    NBER Working Papers, National Bureau of Economic Research, Inc (2005) View citations (115)
    See also Journal Article Monetary Policy with Judgment: Forecast Targeting, International Journal of Central Banking, International Journal of Central Banking (2005) View citations (114) (2005)
36. Optimal Policy Projections
    MPRA Paper, University Library of Munich, Germany View citations (60)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2005) View citations (51)
    NBER Working Papers, National Bureau of Economic Research, Inc (2005) View citations (62)
    See also Journal Article Optimal Policy Projections, International Journal of Central Banking, International Journal of Central Banking (2005) View citations (63) (2005)
37. Social Value of Public Information: Morris and Shin (2002) Is Actually Pro Transparency, Not Con
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (18)
38. Time Consistency of Fiscal and Monetary Policy: A Solution
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (6)
    Also in Seminar Papers, Stockholm University, Institute for International Economic Studies (2004)
    NBER Working Papers, National Bureau of Economic Research, Inc (2005) View citations (4)
    See also Journal Article Time Consistency of Fiscal and Monetary Policy: A Solution, Econometrica, Econometric Society (2006) View citations (58) (2006)

2004

39. Credible Commitment to Optimal Escape from a Liquidity Trap: The Role of the Balance Sheet of an Independent Central Bank
    IMF Working Papers, International Monetary Fund View citations (21)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2004) View citations (22)
    NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (22)
    See also Journal Article Credible Commitment to Optimal Escape from a Liquidity Trap: The Role of the Balance Sheet of an Independent Central Bank, American Economic Review, American Economic Association (2007) View citations (109) (2007)
40. Implementing Optimal Policy Through Inflation-Forecast Targeting
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (105)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (84)
    See also Chapter Implementing Optimal Policy through Inflation-Forecast Targeting, NBER Chapters, National Bureau of Economic Research, Inc (2004) View citations (41) (2004)
41. Optimal Policy with Low-Probability Extreme Events
    CEPR Discussion Papers, C.E.P.R. Discussion Papers
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (13)
42. Targeting Rules vs. Instrument Rules for Monetary Policy: What is Wrong with McCallum and Nelson?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (22)
43. The Magic of the Exchange Rate: Optimal Escape from a Liquidity Trap in Small and Large OPen Economies
    Working Papers, Hong Kong Institute for Monetary Research View citations (14)

2003

44. Escaping from a Liquidity Trap and Deflation: The Foolproof Way and Others
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (275)
    See also Journal Article Escaping from a Liquidity Trap and Deflation: The Foolproof Way and Others, Journal of Economic Perspectives, American Economic Association (2003) View citations (287) (2003)
45. Monetary Policy and Real Stabilization
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (40)
    Also in Working Papers, Princeton University, Department of Economics, Center for Economic Policy Studies. (2002) View citations (54)
    See also Journal Article Monetary policy and real stabilization, Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City (2002) View citations (24) (2002)
46. Optimal Policy with Partial Information in a Forward-Looking Model: Certainty-Equivalence Redux
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (22)
47. What is Wrong with Taylor Rules? Using Judgment in Monetary Policy through Targeting Rules
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (545)
    Also in Working Papers, Princeton University, Department of Economics, Center for Economic Policy Studies. (2002) View citations (42)
    See also Journal Article What Is Wrong with Taylor Rules? Using Judgment in Monetary Policy through Targeting Rules, Journal of Economic Literature, American Economic Association (2003) View citations (572) (2003)

2002

48. An Independent Review of Monetary Policy and Institutions in Norway
    Working Papers, Princeton University, Department of Economics, Center for Economic Policy Studies. View citations (30)
49. Inflation Targeting: Should It Be Modeled as an Instrument Rule or a Targeting Rule?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (130)
    See also Journal Article Inflation targeting: Should it be modeled as an instrument rule or a targeting rule?, European Economic Review, Elsevier (2002) View citations (153) (2002)
50. Money and Inflation in the Euro-Area: A Case for Monetary Indicators?
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (34)
    Also in BIS Working Papers, Bank for International Settlements (2001) View citations (34)
    NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (67)
    See also Journal Article Money and inflation in the euro area: A case for monetary indicators?, Journal of Monetary Economics, Elsevier (2003) View citations (238) (2003)
51. The Inflation Forecast and the Loss Function
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (13)

2001

52. Indicator Variables for Optimal Policy under Asymmetric Information
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (17)
    Also in Seminar Papers, Stockholm University, Institute for International Economic Studies (2001) View citations (12)
    See also Journal Article Indicator variables for optimal policy under asymmetric information, Journal of Economic Dynamics and Control, Elsevier (2004) View citations (116) (2004)

2000

53. Does the P* Model Provide Any Rationale for Monetary Targeting?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (42)
    Also in Seminar Papers, Stockholm University, Institute for International Economic Studies (1999) View citations (10)
    Working Papers, Stockholm - International Economic Studies (1999) View citations (7)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1999) View citations (15)
    See also Journal Article Does the P* Model Provide Any Rationale for Monetary Targeting?, German Economic Review, De Gruyter (2000) View citations (44) (2000)
54. Eurosystem Monetary Targeting: Lessons from US Data
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (23)
    Also in Working Papers, Stockholm - International Economic Studies (1999) View citations (43)
    Working Paper Series, Federal Reserve Bank of San Francisco (1999) View citations (4)
    NBER Working Papers, National Bureau of Economic Research, Inc (1999) View citations (34)
    Seminar Papers, Stockholm University, Institute for International Economic Studies (1999) View citations (38)
    Working Paper Series, Sveriges Riksbank (Central Bank of Sweden) (1999) View citations (33)
    See also Journal Article Eurosystem monetary targeting: Lessons from U.S. data, European Economic Review, Elsevier (2002) View citations (130) (2002)
55. How Should Monetary Policy be Conducted in an Era of Price Stability?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (68)
    Also in Seminar Papers, Stockholm University, Institute for International Economic Studies (1999) View citations (102)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1999) View citations (102)
    See also Journal Article How should monetary policy be conducted in an era of price stability?, Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City (1999) View citations (53) (1999)
56. Indicator Variables for Optimal Policy
    Seminar Papers, Stockholm University, Institute for International Economic Studies View citations (54)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (68)
    Working Paper Series, European Central Bank (2000) View citations (54)
    See also Journal Article Indicator variables for optimal policy, Journal of Monetary Economics, Elsevier (2003) View citations (214) (2003)
57. Open-Economy Inflation Targeting
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (769)
    Also in Working Papers, Stockholm - International Economic Studies (1998) View citations (62)
    Seminar Papers, Stockholm University, Institute for International Economic Studies (1998) View citations (101)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1998) View citations (210)
    See also Journal Article Open-economy inflation targeting, Journal of International Economics, Elsevier (2000) View citations (762) (2000)
58. The First Year Of The Eurosystem: Inflation Targeting Or Not?
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (52)
    Also in Seminar Papers, Stockholm University, Institute for International Economic Studies (2000) View citations (53)
    NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (51)
    See also Journal Article The First Year of the Eurosystem: Inflation Targeting or Not?, American Economic Review, American Economic Association (2000) View citations (52) (2000)
59. The Zero Bound in an Open Economy: A Foolproof Way of Escaping from a Liquidity Trap
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (91)
    Also in Seminar Papers, Stockholm University, Institute for International Economic Studies (2000) View citations (50)
    NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (52)
    See also Journal Article The Zero Bound in an Open Economy: A Foolproof Way of Escaping from a Liquidity Trap, Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan (2001) View citations (287) (2001)

1999

60. Monetary Policy Issues for the Eurosystem
    Working Papers, Stockholm - International Economic Studies View citations (108)
    Also in Seminar Papers, Stockholm University, Institute for International Economic Studies (1999) View citations (107)
    NBER Working Papers, National Bureau of Economic Research, Inc (1999) View citations (109)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1999) View citations (107)
    See also Journal Article Monetary policy issues for the Eurosystem, Carnegie-Rochester Conference Series on Public Policy, Elsevier (1999) View citations (107) (1999)
61. Price Stability as a Target for Monetary Policy: Defining and Maintaining Price Stability
    Seminar Papers, Stockholm University, Institute for International Economic Studies View citations (37)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1999) View citations (25)
    Working Papers, Stockholm - International Economic Studies (1999) View citations (15)
    Working Paper Series, Sveriges Riksbank (Central Bank of Sweden) (1999) View citations (23)
    NBER Working Papers, National Bureau of Economic Research, Inc (1999) View citations (19)
    See also Chapter Price Stability as a Target for Monetary Policy: Defining and Maintaining Price Stability, Palgrave Macmillan Books, Palgrave Macmillan (2001) View citations (13) (2001)
62. The Equilibrium Degree of Transparency and Control in Monetary Policy
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (16)
    Also in Working Papers, Stockholm - International Economic Studies (1999) View citations (16)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1999) View citations (55)
    Seminar Papers, Stockholm University, Institute for International Economic Studies (1999) View citations (16)
    NBER Working Papers, National Bureau of Economic Research, Inc (1999) View citations (17)
    See also Journal Article The Equilibrium Degree of Transparency and Control in Monetary Policy, Journal of Money, Credit and Banking, Blackwell Publishing (2002) View citations (93) (2002)

1998

63. Inflation Targeting as a Monetary Policy Rule
    Working Papers, Stockholm - International Economic Studies View citations (84)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1998) View citations (70)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1998) View citations (64)
    Seminar Papers, Stockholm University, Institute for International Economic Studies (1998) View citations (63)
    CFS Working Paper Series, Center for Financial Studies (CFS) (1998) View citations (64)
    See also Journal Article Inflation targeting as a monetary policy rule, Journal of Monetary Economics, Elsevier (1999) View citations (686) (1999)
64. Policy Rules for Inflation Targeting
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (149)
    Also in Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco (1998) View citations (55)
    Seminar Papers, Stockholm University, Institute for International Economic Studies (1998) View citations (147)
    Working Papers, Stockholm - International Economic Studies (1998) View citations (145)
    NBER Working Papers, National Bureau of Economic Research, Inc (1998) View citations (186)
    See also Journal Article Policy rules for inflation targeting, Proceedings, Federal Reserve Bank of San Francisco (1998) View citations (411) (1998)
    Chapter Policy Rules for Inflation Targeting, NBER Chapters, National Bureau of Economic Research, Inc (1999) View citations (703) (1999)
65. Transparency and Credibility: Monetary Policy with Unobservable Goals
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (59)
    Also in Working Papers, Stockholm - International Economic Studies (1998) View citations (35)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1998) View citations (146)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1998) View citations (41)
    Seminar Papers, Stockholm University, Institute for International Economic Studies (1998) View citations (40)
    See also Journal Article Transparency and Credibility: Monetary Policy with Unobservable Goals, International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association (2001) View citations (280) (2001)

1997

66. Debt, cash flow and inflation incentives: A Swedish example
    Seminar Papers, Stockholm University, Institute for International Economic Studies View citations (25)
    Also in Working Papers, Stockholm - International Economic Studies (1996) View citations (27)
    NBER Working Papers, National Bureau of Economic Research, Inc (1996) View citations (19)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1996) View citations (19)
    See also Chapter Debt, Cash Flow and Inflation Incentives: A Swedish Example, International Economic Association Series, Palgrave Macmillan (1998) View citations (28) (1998)
67. Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets
    Seminar Papers, Stockholm University, Institute for International Economic Studies View citations (1112)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1996) View citations (500)
    Working Papers, Stockholm - International Economic Studies (1996) View citations (33)
    Bank of England working papers, Bank of England (1996) View citations (50)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1996) View citations (61)
    See also Journal Article Inflation forecast targeting: Implementing and monitoring inflation targets, European Economic Review, Elsevier (1997) View citations (1073) (1997)
68. Inflation Targeting: Some Extensions
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (145)
    Also in Working Papers, Stockholm - International Economic Studies (1997) View citations (88)
    Seminar Papers, Stockholm University, Institute for International Economic Studies (1997) View citations (106)
    See also Journal Article Inflation Targeting: Some Extensions, Scandinavian Journal of Economics, Wiley Blackwell (1999) View citations (134) (1999)
69. Inflation targeting in an open economy: strict or flexible inflation targeting?
    Reserve Bank of New Zealand Discussion Paper Series, Reserve Bank of New Zealand View citations (43)
70. New Techniques to Extract Market Expectations from Financial Instruments
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (218)
    Also in Working Papers, Stockholm - International Economic Studies (1996) View citations (13)
    Seminar Papers, Stockholm University, Institute for International Economic Studies (1997) View citations (202)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1997) View citations (220)
    SSE/EFI Working Paper Series in Economics and Finance, Stockholm School of Economics (1996) View citations (6)
    See also Journal Article New techniques to extract market expectations from financial instruments, Journal of Monetary Economics, Elsevier (1997) View citations (228) (1997)
71. Price Level Targeting vs. Inflation Targeting: A Free Lunch?
    Seminar Papers, Stockholm University, Institute for International Economic Studies View citations (8)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1996) View citations (20)
    Working Papers, Stockholm - International Economic Studies (1996) View citations (50)

1996

72. Price-level Targeting versus Inflation Targeting: A Free Lunch?
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (22)
    See also Journal Article Price-Level Targeting versus Inflation Targeting: A Free Lunch?, Journal of Money, Credit and Banking, Blackwell Publishing (1999) View citations (188) (1999)

1995

73. Optimal Inflation Targets, 'Conservative' Central Banks, and Linear Inflation Contracts
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (105)
    Also in Working Papers, Stockholm - International Economic Studies (1995) View citations (29)
    NBER Working Papers, National Bureau of Economic Research, Inc (1995) View citations (125)
    See also Journal Article Optimal Inflation Targets, "Conservative" Central Banks, and Linear Inflation Contracts, American Economic Review, American Economic Association (1997) View citations (496) (1997)
74. The Swedish Experience of an Inflation Target
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (37)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1995) View citations (37)
    Working Papers, Stockholm - International Economic Studies (1994)

1994

75. Estimating and Interpreting Foreward Interest Rates: Sweden 1992-1994
    Working Papers, Stockholm - International Economic Studies View citations (41)
    Also in IMF Working Papers, International Monetary Fund (1994) View citations (434)
    NBER Working Papers, National Bureau of Economic Research, Inc (1994) View citations (447)
76. Estimating and Interpreting Forward Interest Rates: Sweden 1992-4
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (295)
77. Fixed Exchange Rates as a Means to Price Stability: What Have We Learned?
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (53)
    Also in Working Papers, Stockholm - International Economic Studies (1993) View citations (14)
    NBER Working Papers, National Bureau of Economic Research, Inc (1993) View citations (43)
    See also Journal Article Fixed exchange rates as a means to price stability: What have we learned?, European Economic Review, Elsevier (1994) View citations (51) (1994)
78. How Long Do Unilateral Target Zones Last?
    DELTA Working Papers, DELTA (Ecole normale supérieure)
    Also in Working Papers, Stockholm - International Economic Studies (1991) View citations (3)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1992) View citations (1)
    NBER Working Papers, National Bureau of Economic Research, Inc (1991) View citations (14)
    Weiss Center Working Papers, Wharton School - Weiss Center for International Financial Research (1991) View citations (3)
    Working Papers, HAL (1993)
    See also Journal Article How long do unilateral target zones last?, Journal of International Economics, Elsevier (1994) View citations (15) (1994)
79. Monetary Policy with Flexible Exchange Rates and Forward Interest Rates as Indicators
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (39)
    Also in Working Papers, Stockholm - International Economic Studies (1993)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1994) View citations (40)
80. The Operation and Collapse of Fixed Exchange Rate Regimes
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (22)
    Also in Working Papers, Stockholm - International Economic Studies (1994) View citations (44)
    See also Chapter The operation and collapse of fixed exchange rate regimes, Handbook of International Economics, Elsevier (1995) View citations (63) (1995)
81. The Simplest Test of Inflation Target Credibility
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (4)
    Also in Working Papers, Stockholm - International Economic Studies (1993) View citations (38)
    NBER Working Papers, National Bureau of Economic Research, Inc (1993) View citations (42)

1993

82. European Exchange Rate Credibility Before the Fall
    Working Papers, Stockholm - International Economic Studies View citations (11)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1993) View citations (13)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1993) View citations (20)
    See also Journal Article European exchange rate credibility before the fall, European Economic Review, Elsevier (1994) View citations (137) (1994)
83. Term, Inflation and Foreign Exchange Risk Premia: A Unified Treatment
    Working Papers, Stockholm - International Economic Studies View citations (14)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1993) View citations (14)

1992

84. The Credibility of Nordic Exchange Rate Bands: 1987-1991
    IMF Working Papers, International Monetary Fund View citations (1)
85. Why Exchange Rate Bands? Monetary Independence in Spite of Fixed Exchange Rates
    Working Papers, Stockholm - International Economic Studies View citations (16)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1992) View citations (54)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1992) View citations (9)
    See also Journal Article Why exchange rate bands?: Monetary independence in spite of fixed exchange rates, Journal of Monetary Economics, Elsevier (1994) View citations (113) (1994)

1991

86. Assessing Target Zone Credibility: Mean Reversion and Devaluation Expectations in the EMS
    IMF Working Papers, International Monetary Fund View citations (15)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1991) View citations (14)
    Working Papers, Stockholm - International Economic Studies (1991) View citations (14)
87. Assessing Target Zone Credibility: Mean Reversion and Devaluation Expectations in the ERM 1979-1992
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
    See also Journal Article Assessing target zone credibility: Mean reversion and devaluation expectations in the ERM, 1979-1992, European Economic Review, Elsevier (1993) View citations (40) (1993)
88. Devaluation Expectations: The Swedish Krona 1982-1991
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
    Also in Working Papers, Stockholm - International Economic Studies (1991) View citations (6)
89. Expected and Predicted Realignments: The FF/DM Exchange Rate During the EMS
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (22)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1991) View citations (44)
    Working Papers, Stockholm - International Economic Studies (1991) View citations (38)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1991) View citations (46)
90. Stochastic Devaluation Risk and the Empirical Fit of Target Zone Models
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (24)
    Also in Working Papers, Stockholm - International Economic Studies (1990) View citations (12)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1991) View citations (47)
    See also Journal Article Stochastic Devaluation Risk and the Empirical Fit of Target-Zone Models, The Review of Economic Studies, Review of Economic Studies Ltd (1993) View citations (178) (1993)
91. Swedish Business Cycles: 1861-1988
    RCER Working Papers, University of Rochester - Center for Economic Research (RCER) View citations (1)
    Also in Working Papers, Uppsala - Working Paper Series (1990)
    See also Journal Article Swedish business cycles: 1861-1988, Journal of Monetary Economics, Elsevier (1992) View citations (15) (1992)
92. The Foreign Exchange Risk Premium in a Target Zone with Devaluation Risk
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1990) View citations (20)
    Working Papers, Stockholm - International Economic Studies (1990) View citations (25)
    See also Journal Article The foreign exchange risk premium in a target zone with devaluation risk, Journal of International Economics, Elsevier (1992) View citations (78) (1992)
93. The Simplest Test of Target Zone Credibility
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (108)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1990) View citations (10)
    Working Papers, Stockholm - International Economic Studies (1990) View citations (12)
    See also Journal Article The Simplest Test of Target Zone Credibility, IMF Staff Papers, Palgrave Macmillan (1991) View citations (97) (1991)
94. The Term Structure of Interest Rate Differentials in a Target Zone: Theory and Swedish Data
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (75)
    Also in Working Papers, Stockholm - International Economic Studies (1990) View citations (16)
    NBER Working Papers, National Bureau of Economic Research, Inc (1990) View citations (40)
    See also Journal Article The term structure of interest rate differentials in a target zone: Theory and Swedish data, Journal of Monetary Economics, Elsevier (1991) View citations (77) (1991)

1990

95. Nontraded Assets in Incomplete Markets: Pricing and Portfolio Choices
    Working Papers, Stockholm - International Economic Studies View citations (1)
    See also Journal Article Nontraded assets in incomplete markets: Pricing and portfolio choice, European Economic Review, Elsevier (1993) View citations (77) (1993)
96. Policy Inconsistency and External Debt Service
    Working Papers, Stockholm - International Economic Studies View citations (1)
    See also Journal Article Policy inconsistency and external debt service, Journal of International Money and Finance, Elsevier (1994) View citations (7) (1994)
97. Target Zones and Interest Rate Variability
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
    Also in IMF Working Papers, International Monetary Fund (1990) View citations (1)
    Working Papers, Stockholm - International Economic Studies (1989) View citations (11)
    NBER Working Papers, National Bureau of Economic Research, Inc (1989) View citations (54)
    See also Journal Article Target zones and interest rate variability, Journal of International Economics, Elsevier (1991) View citations (68) (1991)

1989

98. A REPLY OF: TIME CONSISTENCY OF FISCAL AND MONETARY POLICY, A COMMENT
    Working Papers, Stockholm - International Economic Studies
99. Exchange Rate Variability And Asset Trade
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (25)
    See also Journal Article Exchange rate variability and asset trade, Journal of Monetary Economics, Elsevier (1989) View citations (32) (1989)

1988

100. PORTFOLIO CHOICE AND ASSET PRICING WITH NONTRADED ASSETS
     Working Papers, Stockholm - International Economic Studies View citations (5)
     Also in NBER Working Papers, National Bureau of Economic Research, Inc (1988) View citations (6)
101. PORTFOLIO CHOICE WITH NON-EXPECTED UTILITY IN CONTINUOUS TIME
     Working Papers, Stockholm - International Economic Studies View citations (1)
     See also Journal Article Portfolio choice with non-expected utility in continuous time, Economics Letters, Elsevier (1989) View citations (87) (1989)

1987

102. Excess Capacity, Monopolistic Competition, and International Transmission of Monetary Disturbances
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (75)
     See also Journal Article Excess Capacity, Monopolistic Competition, and International Transmission of Monetary Disturbances, Economic Journal, Royal Economic Society (1989) View citations (148) (1989)
103. Trade in Nominal Assets: Monetary Policy, and Price Level and Exchange Rate Risk
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
     See also Journal Article Trade in nominal assets: Monetary policy, and price level and exchange rate risk, Journal of International Economics, Elsevier (1989) View citations (12) (1989)
104. Trade in Risky Assets
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
     See also Journal Article Trade in Risky Assets, American Economic Review, American Economic Association (1988) View citations (50) (1988)

1986

105. Laws as Assets: A Possible Solution to the Time Consistency Problem
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)

1985

106. Capital Flows, Investment, and Exchange Rates
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (32)
     See also Journal Article Capital flows, investment, and exchange rates, Journal of Monetary Economics, Elsevier (1987) View citations (45) (1987)

1983

107. Current Account Dynamics and the Terms of Trade: Harberger-Laursen-Metzler Two Generations Later
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (14)
     See also Journal Article Current Account Dynamics and the Terms of Trade: Harberger-Laursen-Metzler Two Generations Later, Journal of Political Economy, University of Chicago Press (1985) View citations (97) (1985)
108. Is Optimism Good in a Keynesian Economy?
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
109. The Theorems of International Trade with Factor Mobility
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
     See also Journal Article The theoremes of international trade with factor mobility, Journal of International Economics, Elsevier (1986) View citations (16) (1986)
110. Trade in Goods and Factors with International Differences in Technology
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
     See also Journal Article Trade in Goods and Factors with International Differences in Technology, International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association (1985) View citations (36) (1985)
111. World Equilibrium with Oil Price Increases: An Intertemporal Analysis
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
     See also Journal Article World Equilibrium with Oil Price Increases: An Intertemporal Analysis, Oxford Economic Papers, Oxford University Press (1984) View citations (14) (1984)

1982

112. Adjustment to Expected and Unexpected Oil Price Changes
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
     See also Journal Article Adjustment to Expected and Unexpected Oil Price Changes, Canadian Journal of Economics, Canadian Economics Association (1984) View citations (3) (1984)
113. Factor Trade and Goods Trade
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
     See also Journal Article Factor trade and goods trade, Journal of International Economics, Elsevier (1984) View citations (30) (1984)
114. Inflation, Monetary Velocity, and Welfare
     NBER Working Papers, National Bureau of Economic Research, Inc
115. Oil Prices, Welfare and the Trade Balance: An Intertemporal Approach
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
116. On Variable Capital Utilization and International Trade Theory
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
     See also Journal Article On variable capital utilization and international trade theory, Economics Letters, Elsevier (1983) (1983)
117. Structural Differences and Macroeconomic Adjustment to Oil Price Increases in a Three-Country Model
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)

Journal Articles

2020

1. Monetary Policy Strategies for the Federal Reserve
   International Journal of Central Banking, 2020, 16, (1), 133-193 View citations (37)
   See also Working Paper Monetary Policy Strategies for the Federal Reserve, NBER Working Papers (2020) View citations (38) (2020)
2. What Rule for the Federal Reserve? Forecast Targeting
   International Journal of Central Banking, 2020, 16, (6), 39-95 View citations (5)
   See also Working Paper What Rule for the Federal Reserve? Forecast Targeting, CEPR Discussion Papers (2019) View citations (7) (2019)

2018

3. La relación entre política monetaria y política de estabilización financiera
   Journal Economía Chilena (The Chilean Economy), 2018, 21, (2), 082-106
4. Monetary policy and macroprudential policy: Different and separate?
   Canadian Journal of Economics/Revue canadienne d'économique, 2018, 51, (3), 802-827 View citations (27)
   Also in Canadian Journal of Economics, 2018, 51, (3), 802-827 (2018) View citations (28)
   See also Working Paper Monetary Policy and Macroprudential Policy: Different and Separate?, CEPR Discussion Papers (2018) View citations (28) (2018)

2017

5. Commentary: 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, 2017, 13, (3), 385-408 View citations (9)
6. Cost-benefit analysis of leaning against the wind
   Journal of Monetary Economics, 2017, 90, (C), 193-213 View citations (136)
   See also Working Paper Cost-Benefit Analysis of Leaning Against the Wind, CEPR Discussion Papers (2017) View citations (142) (2017)

2016

7. Inflation Targeting and "Leaning Against the Wind"
   Israel Economic Review, 2016, 13, (1), 91-99 View citations (1)
   Also in International Journal of Central Banking, 2014, 10, (2), 103-114 (2014) View citations (87)

2015

8. Comment
   NBER Macroeconomics Annual, 2015, 29, (1), 345 - 353
9. Day One Keynote Address: Forward Guidance
   International Journal of Central Banking, 2015, 11, (4), 19-64 View citations (18)
10. The Possible Unemployment Cost of Average Inflation below a Credible Target
    American Economic Journal: Macroeconomics, 2015, 7, (1), 258-96 View citations (41)
    See also Working Paper The Possible Unemployment Cost of Average Inflation below a Credible Target, NBER Working Papers (2013) View citations (11) (2013)
    Chapter The Possible Unemployment Cost of Average Inflation below a Credible Target, NBER Chapters, 2013 (2013) View citations (7) (2013)

2014

11. How to Weigh Unemployment Relative to Inflation in Monetary Policy?
    Journal of Money, Credit and Banking, 2014, 46, (S2), 183-188 View citations (5)
12. Monetary policy trade-offs in an estimated open-economy DSGE model
    Journal of Economic Dynamics and Control, 2014, 42, (C), 33-49 View citations (24)
    See also Working Paper Monetary Policy Trade-Offs in an Estimated Open-Economy DSGE Model, Working Paper Series (2009) View citations (3) (2009)

2013

13. Comment
    NBER International Seminar on Macroeconomics, 2013, 9, (1), 49 - 54

2011

14. Anticipated Alternative policy Rate Paths in Plicy Simulations
    International Journal of Central Banking, 2011, 7, (3), 1-35 View citations (91)
    See also Working Paper Anticipated Alternative Policy-Rate Paths in Policy Simulations, Working Paper Series (2011) View citations (98) (2011)
15. Monetary policy after the crisis
    Proceedings, 2011, (Nov), 35-49 View citations (5)
16. Optimal Monetary Policy in an Operational Medium-Sized DSGE Model
    Journal of Money, Credit and Banking, 2011, 43, (7), 1287-1331 View citations (69)
    Also in Journal of Money, Credit and Banking, 2011, 43, (7), 1287-1331 (2011) View citations (12)
    See also Working Paper Optimal monetary policy in an operational medium-sized DSGE model, International Finance Discussion Papers (2011) View citations (68) (2011)
17. Practical Monetary Policy: Examples from Sweden and the United States
    Brookings Papers on Economic Activity, 2011, 42, (2 (Fall)), 289-352 View citations (46)
    See also Working Paper Practical Monetary Policy: Examples from Sweden and the United States, NBER Working Papers (2012) View citations (7) (2012)

2010

18. Monetary Policy and Financial Markets at the Effective Lower Bound
    Journal of Money, Credit and Banking, 2010, 42, (s1), 229-242 View citations (12)
    Also in Journal of Money, Credit and Banking, 2010, 42, (s1), 229-242 (2010) View citations (1)
19. Technology, Institutions and Allocation of Time in Swedish Households, 1920-1990
    Economies et Sociétés (Serie 'Histoire Economique Quantitative'), 2010, (41), 21-46

2008

20. Optimal monetary policy under uncertainty: a Markov jump-linear-quadratic approach
    Review, 2008, 90, (Jul), 275-294 View citations (13)

2007

21. Credible Commitment to Optimal Escape from a Liquidity Trap: The Role of the Balance Sheet of an Independent Central Bank
    American Economic Review, 2007, 97, (1), 474-490 View citations (109)
    See also Working Paper Credible Commitment to Optimal Escape from a Liquidity Trap: The Role of the Balance Sheet of an Independent Central Bank, IMF Working Papers (2004) View citations (21) (2004)

2006

22. Social Value of Public Information: Comment: Morris and Shin (2002) Is Actually Pro-Transparency, Not Con
    American Economic Review, 2006, 96, (1), 448-452 View citations (218)
23. Time Consistency of Fiscal and Monetary Policy: A Solution
    Econometrica, 2006, 74, (1), 193-212 View citations (58)
    See also Working Paper Time Consistency of Fiscal and Monetary Policy: A Solution, CEPR Discussion Papers (2005) View citations (6) (2005)

2005

24. Monetary Policy with Judgment: Forecast Targeting
    International Journal of Central Banking, 2005, 1, (1) View citations (114)
    See also Working Paper Monetary Policy with Judgement: Forecast Targeting, CEPR Discussion Papers (2005) View citations (24) (2005)
25. Optimal Policy Projections
    International Journal of Central Banking, 2005, 1, (3) View citations (63)
    See also Working Paper Optimal Policy Projections, MPRA Paper (2005) View citations (60) (2005)
26. Targeting versus instrument rules for monetary policy: what is wrong with McCallum and Nelson?
    Review, 2005, 87, (Sep), 613-626 View citations (32)

2004

27. Commentary on Practical problems and obstacles to inflation targeting
    Review, 2004, 86, (Jul), 161-164 View citations (2)
28. Indicator variables for optimal policy under asymmetric information
    Journal of Economic Dynamics and Control, 2004, 28, (4), 661-690 View citations (116)
    See also Working Paper Indicator Variables for Optimal Policy under Asymmetric Information, NBER Working Papers (2001) View citations (17) (2001)
29. Política monetaria y aprendizaje
    Boletín, 2004, L, (1), 9-14

2003

30. Comment on: The future of monetary aggregates in monetary policy analysis
    Journal of Monetary Economics, 2003, 50, (5), 1061-1070 View citations (25)
31. Escaping from a Liquidity Trap and Deflation: The Foolproof Way and Others
    Journal of Economic Perspectives, 2003, 17, (4), 145-166 View citations (287)
    See also Working Paper Escaping from a Liquidity Trap and Deflation: The Foolproof Way and Others, NBER Working Papers (2003) View citations (275) (2003)
32. Indicator variables for optimal policy
    Journal of Monetary Economics, 2003, 50, (3), 691-720 View citations (214)
    Also in Proceedings, 2000 (2000) View citations (50)
    See also Working Paper Indicator Variables for Optimal Policy, Seminar Papers (2000) View citations (54) (2000)
33. Monetary policy and learning
    Economic Review, 2003, 88, (Q3), 11-16 View citations (10)
34. Money and inflation in the euro area: A case for monetary indicators?
    Journal of Monetary Economics, 2003, 50, (8), 1649-1672 View citations (238)
    See also Working Paper Money and Inflation in the Euro-Area: A Case for Monetary Indicators?, CEPR Discussion Papers (2002) View citations (34) (2002)
35. What Is Wrong with Taylor Rules? Using Judgment in Monetary Policy through Targeting Rules
    Journal of Economic Literature, 2003, 41, (2), 426-477 View citations (572)
    See also Working Paper What is Wrong with Taylor Rules? Using Judgment in Monetary Policy through Targeting Rules, NBER Working Papers (2003) View citations (545) (2003)

2002

36. Eurosystem monetary targeting: Lessons from U.S. data
    European Economic Review, 2002, 46, (3), 417-442 View citations (130)
    See also Working Paper Eurosystem Monetary Targeting: Lessons from US Data, CEPR Discussion Papers (2000) View citations (23) (2000)
37. Inflation targeting: Should it be modeled as an instrument rule or a targeting rule?
    European Economic Review, 2002, 46, (4-5), 771-780 View citations (153)
    See also Working Paper Inflation Targeting: Should It Be Modeled as an Instrument Rule or a Targeting Rule?, NBER Working Papers (2002) View citations (130) (2002)
38. Monetary policy and real stabilization
    Proceedings - Economic Policy Symposium - Jackson Hole, 2002, 261-312 View citations (24)
    See also Working Paper Monetary Policy and Real Stabilization, NBER Working Papers (2003) View citations (40) (2003)
39. The Equilibrium Degree of Transparency and Control in Monetary Policy
    Journal of Money, Credit and Banking, 2002, 34, (2), 520-39 View citations (93)
    See also Working Paper The Equilibrium Degree of Transparency and Control in Monetary Policy, CEPR Discussion Papers (1999) View citations (16) (1999)

2001

40. Independent review of the operation of monetary policy in New Zealand
    Reserve Bank of New Zealand Bulletin, 2001, 64 View citations (94)
41. Response to Seitz and Tödter, `How the P* Model Rationalizes Monetary Targeting: A Comment on Svensson'
    German Economic Review, 2001, 2, (3), 309-312 View citations (3)
    Also in German Economic Review, 2001, 2, (3), 309-312 (2001)
42. The Zero Bound in an Open Economy: A Foolproof Way of Escaping from a Liquidity Trap
    Monetary and Economic Studies, 2001, 19, (S1), 277-312 View citations (287)
    See also Working Paper The Zero Bound in an Open Economy: A Foolproof Way of Escaping from a Liquidity Trap, CEPR Discussion Papers (2000) View citations (91) (2000)
43. Transparency and Credibility: Monetary Policy with Unobservable Goals
    International Economic Review, 2001, 42, (2), 369-97 View citations (280)
    See also Working Paper Transparency and Credibility: Monetary Policy with Unobservable Goals, NBER Working Papers (1998) View citations (59) (1998)

2000

44. Does the P* Model Provide Any Rationale for Monetary Targeting?
    German Economic Review, 2000, 1, (1), 69-81 View citations (44)
    Also in German Economic Review, 2000, 1, (1), 69-81 (2000) View citations (45)
    See also Working Paper Does the P* Model Provide Any Rationale for Monetary Targeting?, NBER Working Papers (2000) View citations (42) (2000)
45. Open-economy inflation targeting
    Journal of International Economics, 2000, 50, (1), 155-183 View citations (762)
    See also Working Paper Open-Economy Inflation Targeting, NBER Working Papers (2000) View citations (769) (2000)
46. The First Year of the Eurosystem: Inflation Targeting or Not?
    American Economic Review, 2000, 90, (2), 95-99 View citations (52)
    See also Working Paper The First Year Of The Eurosystem: Inflation Targeting Or Not?, CEPR Discussion Papers (2000) View citations (52) (2000)

1999

47. How should monetary policy be conducted in an era of price stability?
    Proceedings - Economic Policy Symposium - Jackson Hole, 1999, 195-259 View citations (53)
    See also Working Paper How Should Monetary Policy be Conducted in an Era of Price Stability?, NBER Working Papers (2000) View citations (68) (2000)
48. Inflation Targeting: Some Extensions
    Scandinavian Journal of Economics, 1999, 101, (3), 337-361 View citations (134)
    See also Working Paper Inflation Targeting: Some Extensions, NBER Working Papers (1997) View citations (145) (1997)
49. Inflation targeting as a monetary policy rule
    Journal of Monetary Economics, 1999, 43, (3), 607-654 View citations (686)
    See also Working Paper Inflation Targeting as a Monetary Policy Rule, Working Papers (1998) View citations (84) (1998)
50. Monetary policy issues for the Eurosystem
    Carnegie-Rochester Conference Series on Public Policy, 1999, 51, (1), 79-136 View citations (107)
    Also in Proceedings, 1999 (1999) View citations (106)
    See also Working Paper Monetary Policy Issues for the Eurosystem, Working Papers (1999) View citations (108) (1999)
51. Price-Level Targeting versus Inflation Targeting: A Free Lunch?
    Journal of Money, Credit and Banking, 1999, 31, (3), 277-95 View citations (188)
    See also Working Paper Price-level Targeting versus Inflation Targeting: A Free Lunch?, CEPR Discussion Papers (1996) View citations (22) (1996)

1998

52. Policy rules for inflation targeting
    Proceedings, 1998, (Mar) View citations (411)
    See also Chapter Policy Rules for Inflation Targeting, NBER Chapters, 1999, 203-262 (1999) View citations (703) (1999)
    Working Paper Policy Rules for Inflation Targeting, CEPR Discussion Papers (1998) View citations (149) (1998)

1997

53. Inflation forecast targeting: Implementing and monitoring inflation targets
    European Economic Review, 1997, 41, (6), 1111-1146 View citations (1073)
    See also Working Paper Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets, Seminar Papers (1997) View citations (1112) (1997)
54. New techniques to extract market expectations from financial instruments
    Journal of Monetary Economics, 1997, 40, (2), 383-429 View citations (228)
    See also Working Paper New Techniques to Extract Market Expectations from Financial Instruments, NBER Working Papers (1997) View citations (218) (1997)
55. Optimal Inflation Targets, "Conservative" Central Banks, and Linear Inflation Contracts
    American Economic Review, 1997, 87, (1), 98-114 View citations (496)
    See also Working Paper Optimal Inflation Targets, 'Conservative' Central Banks, and Linear Inflation Contracts, CEPR Discussion Papers (1995) View citations (105) (1995)

1996

56. How should monetary policy respond to shocks while maintaining long-run price stability? Conceptual issues (commentary)
    Proceedings - Economic Policy Symposium - Jackson Hole, 1996, 209-227 View citations (5)

1994

57. European exchange rate credibility before the fall
    European Economic Review, 1994, 38, (6), 1185-1216 View citations (137)
    See also Working Paper European Exchange Rate Credibility Before the Fall, Working Papers (1993) View citations (11) (1993)
58. Fixed exchange rates as a means to price stability: What have we learned?
    European Economic Review, 1994, 38, (3-4), 447-468 View citations (51)
    See also Working Paper Fixed Exchange Rates as a Means to Price Stability: What Have We Learned?, CEPR Discussion Papers (1994) View citations (53) (1994)
59. How long do unilateral target zones last?
    Journal of International Economics, 1994, 36, (3-4), 467-481 View citations (15)
    See also Working Paper How Long Do Unilateral Target Zones Last?, DELTA Working Papers (1994) (1994)
60. Policy inconsistency and external debt service
    Journal of International Money and Finance, 1994, 13, (3), 364-374 View citations (7)
    See also Working Paper Policy Inconsistency and External Debt Service, Working Papers (1990) View citations (1) (1990)
61. Why exchange rate bands?: Monetary independence in spite of fixed exchange rates
    Journal of Monetary Economics, 1994, 33, (1), 157-199 View citations (113)
    See also Working Paper Why Exchange Rate Bands? Monetary Independence in Spite of Fixed Exchange Rates, Working Papers (1992) View citations (16) (1992)

1993

62. Assessing target zone credibility: Mean reversion and devaluation expectations in the ERM, 1979-1992
    European Economic Review, 1993, 37, (4), 763-793 View citations (40)
    See also Working Paper Assessing Target Zone Credibility: Mean Reversion and Devaluation Expectations in the ERM 1979-1992, NBER Working Papers (1991) View citations (6) (1991)
63. Devaluation Expectations: The Swedish Krona 1985-92
    Economic Journal, 1993, 103, (420), 1170-79 View citations (10)
64. Nontraded assets in incomplete markets: Pricing and portfolio choice
    European Economic Review, 1993, 37, (5), 1149-1168 View citations (77)
    See also Working Paper Nontraded Assets in Incomplete Markets: Pricing and Portfolio Choices, Working Papers (1990) View citations (1) (1990)
65. Stochastic Devaluation Risk and the Empirical Fit of Target-Zone Models
    The Review of Economic Studies, 1993, 60, (3), 689-712 View citations (178)
    See also Working Paper Stochastic Devaluation Risk and the Empirical Fit of Target Zone Models, NBER Working Papers (1991) View citations (24) (1991)

1992

66. An Interpretation of Recent Research on Exchange Rate Target Zones
    Journal of Economic Perspectives, 1992, 6, (4), 119-144 View citations (165)
67. Swedish business cycles: 1861-1988
    Journal of Monetary Economics, 1992, 30, (3), 343-371 View citations (15)
    See also Working Paper Swedish Business Cycles: 1861-1988, RCER Working Papers (1991) View citations (1) (1991)
68. The foreign exchange risk premium in a target zone with devaluation risk
    Journal of International Economics, 1992, 33, (1-2), 21-40 View citations (78)
    See also Working Paper The Foreign Exchange Risk Premium in a Target Zone with Devaluation Risk, CEPR Discussion Papers (1991) View citations (5) (1991)

1991

69. Target zones and interest rate variability
    Journal of International Economics, 1991, 31, (1-2), 27-54 View citations (68)
    See also Working Paper Target Zones and Interest Rate Variability, CEPR Discussion Papers (1990) View citations (1) (1990)
70. The Simplest Test of Target Zone Credibility
    IMF Staff Papers, 1991, 38, (3), 655-665 View citations (97)
    See also Working Paper The Simplest Test of Target Zone Credibility, CEPR Discussion Papers (1991) View citations (108) (1991)
71. The term structure of interest rate differentials in a target zone: Theory and Swedish data
    Journal of Monetary Economics, 1991, 28, (1), 87-116 View citations (77)
    See also Working Paper The Term Structure of Interest Rate Differentials in a Target Zone: Theory and Swedish Data, CEPR Discussion Papers (1991) View citations (75) (1991)

1989

72. Excess Capacity, Monopolistic Competition, and International Transmission of Monetary Disturbances
    Economic Journal, 1989, 99, (397), 785-805 View citations (148)
    See also Working Paper Excess Capacity, Monopolistic Competition, and International Transmission of Monetary Disturbances, NBER Working Papers (1987) View citations (75) (1987)
73. Exchange rate variability and asset trade
    Journal of Monetary Economics, 1989, 23, (3), 485-509 View citations (32)
    See also Working Paper Exchange Rate Variability And Asset Trade, NBER Working Papers (1989) View citations (25) (1989)
74. Portfolio choice with non-expected utility in continuous time
    Economics Letters, 1989, 30, (4), 313-317 View citations (87)
    See also Working Paper PORTFOLIO CHOICE WITH NON-EXPECTED UTILITY IN CONTINUOUS TIME, Working Papers (1988) View citations (1) (1988)
75. Trade in nominal assets: Monetary policy, and price level and exchange rate risk
    Journal of International Economics, 1989, 26, (1-2), 1-28 View citations (12)
    See also Working Paper Trade in Nominal Assets: Monetary Policy, and Price Level and Exchange Rate Risk, NBER Working Papers (1987) View citations (1) (1987)
76. Why a Stubborn Conservative would Run a Deficit: Policy with Time-Inconsistent Preferences
    The Quarterly Journal of Economics, 1989, 104, (2), 325-345 View citations (269)

1988

77. Money and Banking in a Cash-in-Advance Economy
    International Economic Review, 1988, 29, (4), 681-705 View citations (18)
78. Social Contracts as Assets: A Possible Solution to the Time-Consistency Problem
    American Economic Review, 1988, 78, (4), 662-77 View citations (98)
79. Trade in Risky Assets
    American Economic Review, 1988, 78, (3), 375-94 View citations (50)
    See also Working Paper Trade in Risky Assets, NBER Working Papers (1987) View citations (3) (1987)

1987

80. Capital flows, investment, and exchange rates
    Journal of Monetary Economics, 1987, 19, (2), 171-201 View citations (45)
    See also Working Paper Capital Flows, Investment, and Exchange Rates, NBER Working Papers (1985) View citations (32) (1985)
81. Time Consistency of Fiscal and Monetary Policy
    Econometrica, 1987, 55, (6), 1419-31 View citations (75)

1986

82. Adjustment to Expected and Unexpected Oil Price Changes: Corrigendum
    Canadian Journal of Economics, 1986, 19, (4), 816-17
83. Sticky Goods Prices, Flexible Asset Prices, Monopolistic Competition, and Monetary Policy
    The Review of Economic Studies, 1986, 53, (3), 385-405 View citations (63)
84. The terms of trade between oil importers
    Journal of International Economics, 1986, 20, (1-2), 99-113 View citations (1)
85. The theoremes of international trade with factor mobility
    Journal of International Economics, 1986, 20, (1-2), 21-42 View citations (16)
    See also Working Paper The Theorems of International Trade with Factor Mobility, NBER Working Papers (1983) View citations (1) (1983)
86. Trade Unions and Optimal Labour Contracts
    Economic Journal, 1986, 96, (382), 323-41 View citations (24)

1985

87. Currency prices, terms of trade, and interest rates: A general equilibrium asset-pricing cash-in-advance approach
    Journal of International Economics, 1985, 18, (1-2), 17-41 View citations (60)
88. Current Account Dynamics and the Terms of Trade: Harberger-Laursen-Metzler Two Generations Later
    Journal of Political Economy, 1985, 93, (1), 43-65 View citations (97)
    See also Working Paper Current Account Dynamics and the Terms of Trade: Harberger-Laursen-Metzler Two Generations Later, NBER Working Papers (1983) View citations (14) (1983)
89. Inflation, Interest Rates, and Welfare
    The Quarterly Journal of Economics, 1985, 100, (3), 677-695 View citations (3)
90. Money and Asset Prices in a Cash-in-Advance Economy
    Journal of Political Economy, 1985, 93, (5), 919-44 View citations (247)
91. Trade in Goods and Factors with International Differences in Technology
    International Economic Review, 1985, 26, (1), 175-92 View citations (36)
    See also Working Paper Trade in Goods and Factors with International Differences in Technology, NBER Working Papers (1983) View citations (4) (1983)

1984

92. Adjustment to Expected and Unexpected Oil Price Changes
    Canadian Journal of Economics, 1984, 17, (1), 15-31 View citations (3)
    See also Working Paper Adjustment to Expected and Unexpected Oil Price Changes, NBER Working Papers (1982) View citations (1) (1982)
93. Factor trade and goods trade
    Journal of International Economics, 1984, 16, (3-4), 365-378 View citations (30)
    See also Working Paper Factor Trade and Goods Trade, NBER Working Papers (1982) View citations (3) (1982)
94. International trade and resource allocation: Alan D. Woodland, (North-Holland, Amsterdam and New York, 1982) pp. xiv + 520, $59.00
    Journal of International Economics, 1984, 17, (3-4), 383-386
95. Misperceptions, rigidity and welfare
    European Economic Review, 1984, 25, (3), 387-399
96. Oil Prices, Welfare, and the Trade Balance
    The Quarterly Journal of Economics, 1984, 99, (4), 649-672 View citations (31)
97. Time-consistent fiscal policy and government cash-flow
    Journal of Monetary Economics, 1984, 14, (3), 365-374 View citations (15)
98. Walrasian and Marshallian stability
    Journal of Economic Theory, 1984, 34, (2), 371-379 View citations (2)
99. World Equilibrium with Oil Price Increases: An Intertemporal Analysis
    Oxford Economic Papers, 1984, 36, (1), 86-102 View citations (14)
    See also Working Paper World Equilibrium with Oil Price Increases: An Intertemporal Analysis, NBER Working Papers (1983) View citations (1) (1983)

1983

100. On the choice between capital import and labor export
     European Economic Review, 1983, 20, (1-3), 167-192
101. On variable capital utilization and international trade theory
     Economics Letters, 1983, 11, (4), 377-384
     See also Working Paper On Variable Capital Utilization and International Trade Theory, NBER Working Papers (1982) View citations (1) (1982)
102. Optimal subsidies to declining industries: Efficiency and equity considerations
     Journal of Public Economics, 1983, 22, (3), 327-345 View citations (5)
103. The Terms of Trade and the Current Account: The Harberger-Laursen-Metzler Effect
     Journal of Political Economy, 1983, 91, (1), 97-125 View citations (240)
104. The current account and the optimal government debt
     Journal of International Money and Finance, 1983, 2, (2), 215-224 View citations (13)
105. Trade taxes and the current account
     Economics Letters, 1983, 13, (1), 55-57 View citations (35)

1982

106. On the welfare effects of a duty-free zone
     Journal of International Economics, 1982, 13, (1-2), 45-64 View citations (22)

1981

107. Efficiency and Speculation in a Model with Price-Contingent Contracts
     Econometrica, 1981, 49, (1), 131-51 View citations (15)

1980

108. Effective Demand and Stochastic Rationing
     The Review of Economic Studies, 1980, 47, (2), 339-355 View citations (17)

1979

109. CAN SCRAP SAVE US FROM DEPLETION?
     Natural Resources Forum, 1979, 3, (4), 365-378 View citations (1)

1977

110. The Stock Market, the Objective Function of the Firm, and Intertemporal Pareto Efficiency -- The Certainty Case
     Bell Journal of Economics, 1977, 8, (1), 207-216

1976

111. Sequences of temporary equilibria, stationary point expectations, and Pareto efficiency
     Journal of Economic Theory, 1976, 13, (2), 169-183 View citations (4)

Books

2003

1. International Seminar on Macroeconomics (ISOM) 2002
   NBER Books, National Bureau of Economic Research, Inc

Chapters

2019

1. The Relation between Monetary Policy and Financial-Stability Policy
   Chapter 09 in Monetary Policy and Financial Stability: Transmission Mechanisms and Policy Implications, 2019, vol. 26, pp 283-310 View citations (1)

2014

2. Comment on "Effective Monetary Policy Strategies in New Keynesian Models: A Reexamination"
   A chapter in NBER Macroeconomics Annual 2014, Volume 29, 2014, pp 345-353

2013

3. Comment on "The Great Inflation Drift"
   A chapter in The Great Inflation: The Rebirth of Modern Central Banking, 2013, pp 209-213
4. The Possible Unemployment Cost of Average Inflation below a Credible Target
   A chapter in Lessons from the Financial Crisis for Monetary Policy, 2013 View citations (7)
   See also Journal Article The Possible Unemployment Cost of Average Inflation below a Credible Target, American Economic Association (2015) View citations (41) (2015)
   Working Paper The Possible Unemployment Cost of Average Inflation below a Credible Target, National Bureau of Economic Research, Inc (2013) View citations (11) (2013)

2012

5. Comment on "Capital Account Policies and the Real Exchange Rate"
   A chapter in NBER International Seminar on Macroeconomics 2012, 2012, pp 49-54
6. Evaluating Monetary Policy
   Chapter 11 in The Taylor Rule and the Transformation of Monetary Policy, 2012 View citations (9)
   See also Working Paper Evaluating Monetary Policy, C.E.P.R. Discussion Papers (2009) View citations (15) (2009)

2010

7. Inflation Targeting
   Chapter 22 in Handbook of Monetary Economics, 2010, vol. 3, pp 1237-1302
   See also Working Paper Inflation Targeting, National Bureau of Economic Research, Inc (2010) View citations (63) (2010)

2009

8. Optimal Monetary Policy under Uncertainty in DSGE Models: A Markov Jump-Linear-Quadratic Approach
   Chapter 3 in Monetary Policy under Uncertainty and Learning, 2009, vol. 13, pp 077-114 View citations (15)
   See also Working Paper Optimal Monetary Policy Under Uncertainty in DSGE Models: A Markov Jump-Linear-Quadratic Approach, Central Bank of Chile (2008) View citations (11) (2008)

2007

9. Current Account Dynamics and Monetary Policy
   A chapter in International Dimensions of Monetary Policy, 2007, pp 199-244 View citations (7)
   See also Working Paper Current Account Dynamics and Monetary Policy, National Bureau of Economic Research, Inc (2008) View citations (52) (2008)
10. Optimal inflation Targeting: Further Developments of Inflation Targeting
    Chapter 6 in Monetary Policy under Inflation Targeting, 2007, vol. 11, pp 187-225 View citations (18)
    See also Working Paper Optimal Inflation Targeting: Further Developments of Inflation Targeting, Central Bank of Chile (2006) View citations (13) (2006)

2004

11. Implementing Optimal Policy through Inflation-Forecast Targeting
    A chapter in The Inflation-Targeting Debate, 2004 View citations (41)
    See also Working Paper Implementing Optimal Policy Through Inflation-Forecast Targeting, C.E.P.R. Discussion Papers (2004) View citations (105) (2004)

2001

12. Price Stability as a Target for Monetary Policy: Defining and Maintaining Price Stability
    Palgrave Macmillan View citations (13)
    See also Working Paper Price Stability as a Target for Monetary Policy: Defining and Maintaining Price Stability, Stockholm University, Institute for International Economic Studies (1999) View citations (37) (1999)

1999

13. Policy Rules for Inflation Targeting
    A chapter in Monetary Policy Rules, 1999, pp 203-262 View citations (703)
    See also Working Paper Policy Rules for Inflation Targeting, C.E.P.R. Discussion Papers (1998) View citations (149) (1998)
    Journal Article Policy rules for inflation targeting, Federal Reserve Bank of San Francisco (1998) View citations (411) (1998)

1998

14. Debt, Cash Flow and Inflation Incentives: A Swedish Example
    Palgrave Macmillan View citations (28)
    See also Working Paper Debt, cash flow and inflation incentives: A Swedish example, Stockholm University, Institute for International Economic Studies (1997) View citations (25) (1997)

1995

15. The operation and collapse of fixed exchange rate regimes
    Chapter 36 in Handbook of International Economics, 1995, vol. 3, pp 1865-1911 View citations (63)
    See also Working Paper The Operation and Collapse of Fixed Exchange Rate Regimes, National Bureau of Economic Research, Inc (1994) View citations (22) (1994)

1991

16. Comment
    Palgrave Macmillan