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2 edition of Swedish experience of an inflation target found in the catalog.

Swedish experience of an inflation target

Lars E. O. Svensson

Swedish experience of an inflation target

by Lars E. O. Svensson

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  • 38 Currently reading

Published by Stockholm University, Institute for International Economic Studies in Stockholm .
Written in English


Edition Notes

Statementby Lars E.O. Svensson.
SeriesInternational economics seminar paper series / Stockholm University, Institute for International Economic Studies -- no.587, International economics seminar paper (Stockholm University, Institute for International Economic Studies) -- no.587.
ID Numbers
Open LibraryOL21203476M

Svensson, Lars E O, "The Swedish Experience of an Inflation Target," CEPR Discussion Papers , C.E.P.R. Discussion Papers. Lars E.O. Svensson, "The Swedish Experience of an Inflation Target," NBER Working Papers , National Bureau of Economic Research, Inc. Most recent CPI Sweden (inflation figure) % When we talk about the rate of inflation in Sweden, this often refers to the rate of inflation based on the consumer price index, or CPI for short. The Swedish CPI shows the change in prices of a standard package of goods and services which Swedish households purchase for consumption.

Abstract. The paper gives a brief account of the Swedish experience of an inflation target in a floating exchange rate regime; identifies, documents and discusses the current problems in Swedish monetary policy and their origins; considers what can be done to remedy the Author: Lars E.O. Svensson. The system of inflation targeting and a floating exchange rate has worked well in Sweden since it was introduced in conjunction with the crisis in the early s. It has given us lower and more stable inflation than previously and has also contributed to good growth in output and employment.

The Canadian experience with targets for reducing and controlling inflation / Charles Freedman --New Zealand's experience with inflation targets / Andreas Fischer --British experience with inflation targetry / Alex Bowen --The Swedish experience of an inflation target / Lars E.O. Svensson --Inflation targeting: the Finnish experience / Johnny. Inflation targeting is a monetary policy where a central bank follows an explicit target for the inflation rate for the medium-term and announces this inflation target to the public. The assumption is that the best that monetary policy can do to support long-term growth of the economy is to maintain price stability, and price stability is achieved by controlling inflation.


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Swedish experience of an inflation target by Lars E. O. Svensson Download PDF EPUB FB2

NBER Program(s):International Finance and Macroeconomics, Monetary Economics. The paper gives a brief account of the Swedish experience of an inflation target in a floating exchange rate regime; identifies, documents and discusses the current problems in Swedish monetary policy and their origins; considers what can be done to remedy the problems; and draws some general by: The second modification in the formulation of the inflation target relates to circumstances in which inflation for some reason has deviated markedly from the target.

6 Experience in Sweden as well as studies across countries suggest that the lag before monetary policy elicits its main effect is one to two years. This horizon for the main effect of monetary policy implies that policy should be guided Swedish experience of an inflation target book inflation.

Abstract: The paper gives a brief account of the Swedish experience of an inflation target in a floating exchange rate regime; identifies, documents and discusses the current problems in Swedish monetary policy and their origins; considers what can be done to remedy the. The paper gives a brief account of the Swedish experience of an inflation target in a floating exchange rate regime; identifies, documents and discusses the current problems in Swedish monetary policy and their origins; suggests what can be done to remedy the problems; and draws some general conclusions.

The paper gives a brief account of the Swedish experience of an inflation target in a floating exchange rate regime; identifies, documents and discusses the current problems in Swedish monetary policy and their origins; considers what can be done to remedy the problems; and draws some general conclusions.

This book brings together the experience of central banks and national statistical agencies in countries that focus their monetary policy on inflation targets. Inflation targeting has led to a close interface between these two sets of institutions. When the performance of a central bank is measured in terms of specified price indices, which are usually compiled and disseminated by the national.

(English) Report (Other academic) Abstract [en] The paper gives a brief account of the Swedish experience of an inflation target in a floating exchange rate regime; identifies, documents and discusses the current problems in Swedish monetary policy and their origins; suggests what can be done to remedy the problems; and draws some general conclusions.

In this paper key points in the development of the present Swedish inflation-targeting strategy are analysed. Since the implementation of the inflation target strategy began inthree Author: Claes Berg. An inflation target can serve as a nominal anchor, aiming at coordinating in- flation expectations.

As a nominal anchor, an inflation target also provides a commitment mechanism that increases the accountability of the monetary policy authority. Swedish experience of an inflation target. Cambridge, MA: National Bureau of Economic Research, © [i.e. ] (OCoLC) Material Type: Internet resource: Document Type: Book, Internet Resource: All Authors / Contributors: Lars E O Svensson; National Bureau of Economic Research.

Get this from a library. The Swedish experience of an inflation target. [Lars E O Svensson]. year. The target would formally apply with effect from This created a new norm for monetary policy and Sweden then became one of the first countries in the world to conduct monetary policy with a floating exchange rate and an explicit inflation target.

It may be worth mentioning that the Riksbank’s tasks are also stipulated by law. This book analyses the way that this and many other countries dealed with the new approach of conducting monetary policy towards inflation control, bringing a full and comprehensive description of the behaving of their economies as well as their main macroeconomic variables, before, Cited by: The countries in question are Canada, New Zealand, Sweden, and the United Kingdom, all of which adopted official inflation targets between and 1 As these countries instituted their inflation targets with substantially different legislative provisions and targeting procedures, their experiences should eventually provide useful Cited by: The inflation, measured as CPIF is calculated monthly by Statistics Sweden.

Strategic and Operational Issues and Application to Emerging Market Economies Editors Mario I. Blejer Alain Ize Alfredo M. Leone Inflation target C1/C4 +spine 10/10/00 PM Page 1. Inflation Targeting The Swedish Experience. Sweden's annual inflation rate rose to percent in September offollowing a percent in the previous month and slightly above market expectations of a percent.

Inflation was steady for housing & utilities (at percent) and alcoholic beverages & tobacco. Experience to date clearly shows that the coexistence of multiple anchors (typically, a crawling currency band together with an inflation target, or a monetary aggregate target together with an inflation target) sooner or later becomes a source of policy conflict, which usually damages credibility.

Abstract. The paper gives a brief account of the Swedish experience of an inflation target in a floating exchange rate regime; identifies, documents and discusses the current problems in Swedish monetary policy and their origins; suggests what can be done to remedy the Author: Lars E.O.

Svensson. In Sweden, our own country, the government deficit in stood at about 13 per cent of GDP. 2 Increasing long bond rates and a depreciating kronor — as well as higher volatility in financial markets — were often explained by a fear that ‘politicians would lose control of government finances and resort to higher inflation as a solution Cited by:.

Traditionally, policymakers have used such strategies as controlling the growth of the money supply or pegging the exchange rate to a stable currency.

In recent years a promising new approach has emerged: publicly announcing and pursuing specific targets for the rate of inflation. This book is the first in-depth study of inflation targeting.5/5(2).History of the inflation target In the early s, Sweden was in the midst of a deep economic crisis.

19th November will always have a special significance for the Riksbank. This was the day when, under very dramatic circumstances and after a stubborn defence of the Swedish krona, it was forced to abandon the fixed exchange rate against.“Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets,” European Economic Review 41 ()PDF ( KB).

Abstract. “The Swedish Experience of an Inflation Target,” in Leonardo Leiderman and Lars E.O. Svensson, eds., Inflation Targets, CEPR, London,