Practical Monetary Policy: Examples from Sweden and the United States
NBER Working Paper No. 17823
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A previous version of this paper was prepared for the Fall 2011 issue of Brookings Papers on Economic Activity. The views expressed here are my own and are not necessarily shared by the other members of the Riksbank’s Executive Board or the Riksbank’s staff. I am grateful for helpful comments from and discussions with Hanna Armelius, Claes Berg, Alan Blinder, Bernard Dumas, Karolina Ekholm, Jon Faust, Martin Flodén, Gabriela Guibourg, Jesper Hansson, Donald Kohn, Stefan Laséen, Andrew Levin, Jesper Lindé, Edward Nelson, Bengt Pettersson, Raghuram Rajan, Ulf Söderström, Ingvar Strid, Staffan Viotti, Karl Walentin, Jonathan Wright, Janet Yellen, my discussants Randall Kroszner and David Wessel and other participants in the Brookings Papers conference, and the editors. I thank, without implication, Riksbank staff members Magnus Åhl, Björn Andersson, and Mikael Apel for contributions to the paper. From May 2007, I serve a 6-year term as deputy governor of the Riksbank and one of the six members of the Riksbank’s Executive Board. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.