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Dispersion over the business cycle: Passthrough, productivity, and demand

Carlsson, Mikael; Clymo, Alex; Joslin, Knut-Eric - 2022

We characterize the dispersion of firm-level productivity and demand shocks using Swedish microdata including prices and utilization and analyse the consequences for firms and the aggregate economy. Demand dispersion increases by more than TFPQ dispersion in recessions. Productivity shocks pass...

Persistent link: https://www.econbiz.de/10014303042

Evaluating an estimated new Keynesian small open economy model

Adolfson, Malin; Laséen, Stefan; Lindé, Jesper; … - 2007

This paper estimates and tests a new Keynesian small open economy model in the tradition of Christiano, Eichenbaum, and Evans (2005) and Smets and Wouters (2003) using Bayesian estimation techniques on Swedish data. To account for the switch to an inflation targeting regime in 1993 we allow for...

Persistent link: https://www.econbiz.de/10010320727

The information content of central bank minutes

Apel, Mikael; Blix Grimaldi, Marianna - 2012

One characteristic feature of central banks today is that policy decisions are almost exclusively made by a committee rather than by a single policy maker. Another is that central banks are considerably more transparent than they used to be. Together, this has brought to the fore an important...

Persistent link: https://www.econbiz.de/10010320739

The Riskbank's forecasting performance

Andersson, Michael F.; Karlsson, Gustav; Svensson, Josef - 2007

This paper describes the official Riksbank forecasts for the period 2000-06. The forecast variables are those that are important for monetary policy analysis, i.e. inflation, GDP, productivity, employment, labour force, unemployment and financial variables such as interest rate and foreign...

Persistent link: https://www.econbiz.de/10010320753

Picking the brains of MPC members

Apel, Mikael; Claussen, Carl Andreas; Lennartsdotter, Petra - 2010

This paper reports and analyzes the results from a questionnaire sent to all present and former members of the Riksbank's Executive Board, the monetary policy committee (MPC) of the Swedish central bank. The questions cover a number of issues discussed in the growing literature on monetary...

Persistent link: https://www.econbiz.de/10010320763

Optimal monetary policy in an operational medium-sized DSGE model

Adolfson, Malin; Laséen, Stefan; Lindé, Jesper; … - 2008

We show how to construct optimal policy projections in Ramses, the Riksbank's openeconomy medium-sized DSGE model for forecasting and policy analysis. Bayesian estimation of the parameters of the model indicates that they are relatively invariant to alternative policy assumptions and supports...

Persistent link: https://www.econbiz.de/10010320787

Structural and cyclical forces in the labor market during the great recession: Cross-country evidence

Sala, Luca; Söderström, Ulf; Trigari, Antonella - 2012

price and wage rigidities to study four countries (the U.S., the U.K., Sweden, and Germany) during the financial crisis and … factors were also important in the U.K., but less so in Sweden and Germany. Reduced matching efficiency was considerably less … important in the U.K. and Sweden than in the U.S., but matching efficiency improved in Germany, helping to keep unemployment low …

Persistent link: https://www.econbiz.de/10010320789

Firm default and aggregate fluctuations

Jacobson, Tor; Kindell, Rikard; Lindé, Jesper; … - 2008

This paper studies the relation between macroeconomic fluctuations and corporate defaults while conditioning on industry affiliation and an extensive set of firm-specific factors. Using a logit approach on a panel data set for all incorporated Swedish businesses over 1990-2002, we find strong...

Persistent link: https://www.econbiz.de/10010320796