Remarks at the National Association for Business Economics Annual Meeting, New York City.

Remarks at the National Association for Business Economics Annual Meeting, New York City.

Remarks at United States Military Academy at West Point, West Point, New York.

Remarks at United States Military Academy at West Point, West Point, New York.

Remarks at the National Association for Business Economics Policy Conference, Arlington, Virginia

Remarks at the National Association for Business Economics Policy Conference, Arlington, Virginia

What are the economic effects of an interest rate cut when an economy is in the midst of a financial crisis? Under what conditions will a cut stimulate output and employment, and raise welfare? Under which will it have the opposite effects? The authors answer these questions in a general class...

The paper explores the relationship between financial stability, deflation, and monetary policy. A discussion of narrow liquidity, broad liquidity, market liquidity, and financial distress provides the foundation for the analysis. There are two preliminary conclusions. Equity prices are a...

This paper studies why public finances in Sweden have remained very strong during the current financial crisis. Unlike almost all other European countries, Sweden has had budget surpluses and a government debt ratio around 40 percent of GDP during the recent crisis. We attribute this to two...

The main result in Svensson (2017) and its previous versions is that, given current knowledge and empirical estimates, the cost of using monetary policy to \lean against the wind" for financialstability purposes exceeds the benefit by a substantial margin. Adrian and Liang (2016a) conduct a...