David Vestin

David Vestin

Senior Advisor

Monetary Policy Department
Research Division
Sveriges Riksbank
SE-103 37 Stockholm, Sweden

Phone + 46 8 787 04 60
E-mail [email protected]

Monetary policy, term-structure models, macroeconomics

Short Bio

David joined the Research Division in June 2015, after working as the Head of the Modelling Division (2 years) and as Deputy Head (5 years) in the monetary policy department. Prior to joining the Riksbank David worked as a Senior Economist in DG-Research at the European Central Bank between 2001 and 2008, and worked half a year at the Bank for International Settlements.

Areas of work: monetary policy, term-structure models, macroeconomics

Personal website: davidvestin.se


Ph.D., IIES, Stockholm University, 2001
Bachelor in Economics, Uppsala University, 1995

Publications in refereed journals

Hördahl, P., Tristani, O., & Vestin, D. (2008). The yield curve and macroeconomic dynamics. The Economic Journal, 118(533), 1937-1970.

Lombardo, G., & Vestin, D. (2008). Welfare implications of Calvo vs. Rotemberg-pricing assumptions. Economics Letters, 100(2), 275-279.

Vestin, D. (2006). Price-level versus inflation targeting. Journal of Monetary Economics, 53(7), 1361-1376.

Hördahl, P., Tristani, O., & Vestin, D. (2006). A joint econometric model of macroeconomic and term-structure dynamics. Journal of Econometrics, 131(1), 405-444.

Gaspar, V., Smets, F., & Vestin, D. (2006). Adaptive learning, persistence, and optimal monetary policy. Journal of the European Economic Association, 4(2‐3), 376-385.

Gaspar, V., Smets, F., & Vestin, D. (2006). Monetary policy over time. Macroeconomic Dynamics, 10(02), 207-229.

Nessén, M., & Vestin, D. (2005). Average inflation targeting. Journal of Money, Credit and Banking, 837-863.

Hördahl, P., & Vestin, D. (2005). Interpreting implied risk-neutral densities: the role of risk premia.Review of Finance, 9(1), 97-137.

Other publications

Gaspar, V., Smets, F. & Vestin, D. Inflation persistence, adaptive learning and optimal monetary policy, in Friedman, B. M., & Woodford, M. (Eds.). (2010). Handbook of monetary economics (Vol. 3). Elsevier.
Gaspar, V., Smets, F., & Vestin, D. (2007, May). Is Time Ripe for Price (Level) Stability?,'. In Frontiers of Central Banking', conference Magyar Nemzeti Bank, May.
Gaspar, V., Issing, O., Tristani, O., & Vestin, D. (2006). Imperfect knowledge and monetary policy. Cambridge University Press.

Söderström, U., & D. Vestin (2015). Svensk penningpolitik, i Marknad och Politik, Hultkrantz, L. & H. Tson Söderström (ed). Studentlitteratur.


American Economic Review, Journal of Monetary Economics, Journal of Money, Credit and Banking, Canadian Journal of Economics