| 1. |
- Andersen, Torben, et al.
(författare)
-
Svensk Finanspolitik
- 2011
-
Rapport (övrigt vetenskapligt/konstnärligt)
|
|
| 2. |
- Andersen, Torben, et al.
(författare)
-
Swedish Fiscal Policy
- 2011
-
Rapport (övrigt vetenskapligt/konstnärligt)
|
|
| 3. |
- Andersson, Fredrik N G, et al.
(författare)
-
GDP, not the Bond Yield, should Remain the Anchor of the EU Fiscal Framework
- 2022
-
Rapport (övrigt vetenskapligt/konstnärligt)abstract
- Declining bond yields and rising public debts have caused many economists to suggest raising the debt ceiling in the EU’s Stability and Growth Pact. Implicitly, they argue for replacing GDP as the anchor with the bond yield. We discuss the risks of such a shift. While such a change would provide short-term relief to highly indebted EU member states, it is based on the expectation that bond yields will remain low for the foreseeable future. The historical record, however, suggests that prolonged periods of low real bond yields are eventually replaced by periods of high real bond yields. And this phase may have already started. From a long-term sustainability perspective, we conclude that GDP serves as a better long-term anchor for the EU fiscal framework than the bond rate.
|
|
| 4. |
- Berg, Claes, et al.
(författare)
-
Pioneering Price Level Targeting : the Swedish Experience 1931-1937
- 1998
-
Rapport (övrigt vetenskapligt/konstnärligt)abstract
- In September 1931, Sweden became the first country to make the stabilization of the domestic price level the official goal of its monetary policy, actually the only country that so far has adopted such an explicit price level target. Starting from the issues and concepts familiar from research and policy experience in the 1990s of inflation targeting - as contrasted to price level targeting - this paper examines the evolution of the Swedish price level targeting in the 1930s. We bring out a number of similarities and differences between price stabilization in the 1930s and in the 1990s.
|
|
| 5. |
|
|
| 6. |
- Jonung, Lars, et al.
(författare)
-
Från allmännytta till nytta för alla : En samhällsekonomisk analys av Lunds Kommuns Fastighets AB
- 2023
-
Rapport (övrigt vetenskapligt/konstnärligt)abstract
- Lunds kommun äger LKF, Lunds Kommuns Fastighets AB. LKF i sin tur äger och förvaltar ett stort fastighetskapital. Marknadsvärdet uppskattas till omkring 16 000 miljoner kronor för närvarande. En central fråga infinner sig: förvaltas detta kapital på ett effektivt sätt? Ger den nuvarande förvaltningen en gynnsam avkastning åt medborgarna i Lunds kommun? För att finna ett svar på denna fråga har Lunds kommuns effektiviseringspolitiska råd valt att granska LKF. Syftet för rapporten äratt analysera LKF ur ett samhällsekonomiskt, inte ur ett företagsekonomiskt, perspektiv.
|
|
| 7. |
|
|
| 8. |
|
|
| 9. |
- Jonung, Lars, et al.
(författare)
-
The Euro – What's in it for me? An Economic Analysis of the Swedish Euro Referendum 2003
- 2007
-
Rapport (övrigt vetenskapligt/konstnärligt)abstract
- The Swedish referendum on the euro in September 2003 is an exceptional event for researchers of monetary unions and of European economic integration. Voters chose between maintaining the domestic currency, the krona, and replacing it with the euro, the single currency of the European Union. The referendum revealed significant dividing lines between Yes- and No-voters in areas such as income, education, sex, employment, geographical location and industrial structure. The aim of this study is to explain the large differences in voting behaviour. The empirical analysis of the referendum outcome is based on the traditional optimum currency area (OCA) approach, merged with an account of the distributional effects of Swedish membership of the euro area as they were perceived by the voters. The OCA approach builds upon the trade-off between reducing transaction costs by entering a monetary union, thus increasing trade and income, and obtaining macroeconomic insurance by having a domestic currency with a flexible exchange rate. This trade-off was perceived differently by voters depending on their evaluations of the costs or risks and the benefits or gains of adopting the euro versus keeping the krona, the domestic currency. We use the OCA approach to generate a set of hypotheses concerning voting behaviour that are explored in our econometric tests based on exit polls covering more than 10,000 voters on the day of the euro referendum. Our econometric results suggest that the OCA approach has strong predictive power when explaining differences in voting behaviour across groups in society. In particular, we demonstrate that insurance considerations dominated the prospect of reduced transaction costs in the referendum. It did so in a systematic way across segments of society indicating that voters were capable of making rational comparisons of the costs and benefits of monetary unification. Voters asked themselves: The euro – what's in it for me? Then they voted accordingly.
|
|
| 10. |
- Jonung, Lars, et al.
(författare)
-
The forecasting horizon of inflationary expectations and perceptions in the EU. Is it really 12 months?
- 2010. - 435
-
Rapport (övrigt vetenskapligt/konstnärligt)abstract
- The standard way today to obtain measures of inflationary expectations is to use questionnaires to ask a representative group of respondents about their beliefs of the future rate of inflation during the coming 12 months. This type of data on inflationary expectations as well as on inflationary perceptions has been collected in a unified way on an EU-wide basis for several years. By now, probably the largest database on inflationary expectations has been built up in this way.We use this database to explore the forecasting horizons implicitly used by the respondents to questions about the expected rate of inflation during the coming 12 months. The analysis covers all EU member states that have relevant data. We examine the forecast errors, the mean error and the RMSEs, to study if the forecast horizon is truly 12 months as implied by the questionnaires. Our working hypothesis is that the forecast error has a U-shaped pattern, reaching its lowest value on the 12-month horizon. We also study the "backcast" error for inflationary perceptions in a similar way.Our exploratory study reveals large differences across countries. For most countries, we get the expected U-shaped outcome for the forecast errors. The horizon implicitly used by respondents when answering the questions is not related to the explicit time horizon of the questionnaire. On average respondents use the same horizon when answering both questions, e.g. when respondents use a 12-month forecast horizon answering to the question on future inflation, they use the same forward looking horizon when answering to the question on past inflation. We suggest possible explanations for the differences observed.
|
|
