Hanna Armelius

Hanna Armelius

Senior advisor

Payments Department
Analysis and Policy Division
Sveriges Riksbank
SE-103 37 Stockholm, Sweden


Central bank digital currency (CBDC), international macro and monetary policy

Short bio

Hanna obtained her Ph.D. in economics at the Uppsala University in 2004. She joined the Payments Department at the Riksbank in 2018. Prior to that she has worked at the Ministry of Finance and the Monetary Policy Department of the Riksbank. Her main research areas are central bank digital currency (CBDC), international macro and monetary policy.

Publications in refereed journals

“Spread the Word: International Spillovers from Central Bank Communication” (with Christoph Bertsch, Isaiah Hull and Xin Zhang). Journal of International Money and Finance (forthcoming).

“The timing of uncertainty shocks in a small open economy” (with Isaiah Hull and Hanna Stenbacka). Economic Letters. 2017. 155.

“The politico-economic link between public transport and road pricing: An ex-ante study of the Stockholm road-pricing trial” (with Lars Hultkrantz).Transport Policy. 2006. 13:2.

“An Integrated Approach to Urban Road Pricing”. Journal of Transport Economics and Policy. 2005 39:1.

Other publications

“The e-krona and the macro economy” (with Carl Andreas Claussen, Paola Boel and Marianne Nessén). Sveriges Riksbank Economic Review 2018:3.

“Is the Swedish neutral interest rate affected by international developments?” (with Martin Solberger and Erik Spånberg). Sveriges Riksbank Economic Review 2018:1.

“The level of the inflation target – a review of the issues” (with Mikel Apel and Carl Andreas Claussen). Sveriges Riksbank Economic Review. 2017:2.

“Price index for the inflation target” (with Mikael Apel and Carl Andreas Claussen). Economic Commentary, Sveriges Riksbank. No 2. 2016.

“How far can the repo rate be cut?” (with Jan Alsterlind, Paolo Bonomolo, David Forsman, Björn Jönsson and Anna-Lena Wretman). Economic Commentary, Sveriges Riksbank. No 11. 2015.

“Lower neutral interest rate in Sweden?” (with Paolo Bonomolo, Magnus Lindskog, Julia Rådahl and Karl Walentin). Economic Commentary, Sveriges Riksbank. No 8. 2014.

“The mystery of the weak growth of world trade after the global financial crisis” (with Carl-Johan Belfrage and Hanna Stenbacka). Sveriges Riksbank Economic Review. 2014:3.

“The relation between household saving and falls in house prices” (with Hans Dillén). Economic commentary, Sveriges Riksbank. No 4. 2011.