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How useful are simple rules for monetary policy? : the Swedish experience

Berg, Claes; Jansson, Per; Vredin, Anders - 2004

Monetary policy is often analysed in terms of simple rules. Such rules may be useful for many purposes, even when they do not describe the actual monetary policy strategy exactly. This paper compares monetary policy in Sweden during the inflation-targeting regime 19932002 with the policies...

Persistent link: https://www.econbiz.de/10011583820

Evaluating monetary policy

Svensson, Lars E. O. - 2009

Evaluating inflation-targeting monetary policy is more complicated than checking whether inflation has been on target, because inflation control is imperfect and flexible inflation targeting means that deviations from target may be deliberate in order to stabilize the real economy. A modified...

Persistent link: https://www.econbiz.de/10003896109

Towards technology-news-driven business cycles

Di Casola, Paola; Sichlimiris, Spyridon - 2018

We identify an inflationary technology news shock as the leading source of business cycle variations for the postwar U ….S. economy. This shock acts like a demand shock: it induces strong positive comovement in real quantities - GDP, consumption … technological innovations reduce inflation. The technology news shock became the predominant source of the business cycle from the …

Persistent link: https://www.econbiz.de/10011930326

The interaction between fiscal and monetary policies : evidence from Sweden

Ankargren, Sebastian; Shahnazarian, Hovick - 2019 - (Updated april 2019)

This paper estimates the interaction between monetary- and fiscal policy using a structural VAR model with time-varying parameters. For demand and supply shocks, the two policies are estimated to be complementary, while for monetary and fiscal policies shocks the two policies act as substitutes....

Persistent link: https://www.econbiz.de/10011990029

Financial instability and monetary policy : the Swedish evidence

Bergman, Michael U.; Hansen, Jan - 2002

This paper examines the relationship between financial instability and monetary policy within the Swedish economy. Based on a standard VAR model of monetary policy extended to include measures of financial instability and credit expansions, we examine the interaction between monetary policy and...

Persistent link: https://www.econbiz.de/10011584566

An alternative explanation of the price puzzle

Giordani, Paolo - 2001

This paper proposes a simple explanation for the frequent appearance of a price puzzle in VARs designed for monetary policy analysis. It suggests that the best method of solving the puzzle implies a close connection between theory and empirics rather than the introduction of a commodity price....

Persistent link: https://www.econbiz.de/10011585346

Conditional exchange rate pass-through : evidence from Sweden

Corbo, Vesna; Di Casola, Paola - 2018

The pass-through from exchange rate changes to inflation differs depending on the underlying shock. This paper … exchange rate following a certain exogenous shock, with a structural econometric approach using data for Sweden, a small … shock is rather small. Importantly, this shock is not the most important driver of exchange rate fluctuations, unlike what …

Persistent link: https://www.econbiz.de/10011806006

Drivers of consumer prices and exchange rates in small open economies

Corbo, Vesna; Di Casola, Paola - 2020

economies, we find that the main driver of consumer price inflation is the global demand shock. A negative global demand shock … pass-through following this shock is of opposite sign to what is usually expected. Finally, exogenous shocks to the …

Persistent link: https://www.econbiz.de/10012176017

Measuring Riksbank monetary policy : shocks and macroeconomic transmission

Almerud, Jakob; Krygier, Dominika; Lundvall, Henrik; … - 2024

We construct and make available a new monetary policy event study database with high-frequency financial market reactions to Riksbank communications, spanning a period of 20 years. Using these data as instruments, we estimate the macroeconomic effects of monetary policy shocks in Sweden. A...

Persistent link: https://www.econbiz.de/10015163678

Identifying the effects of monetary policy shocks in an open economy

Jacobson, Tor; Jansson, Per; Vredin, Anders; Warne, Anders - 2002

wisdom about the effects of monetary policy shock. …

Persistent link: https://www.econbiz.de/10011583125