New issue of the Riksbank’s journal Economic Review
News This edition of Sveriges Riksbank Economic Review contains two long articles, and shows the breadth of the subjects that can be included in this journal. The first article concerns the Swedish electricity market. The large fluctuations in electricity prices over the past year have called attention to the functioning of the electricity market. The second article describes extensive archive work, a work that covers an exciting period in Swedish monetary policy history.
The articles in the first issue of the Riksbank’s journal Economic Review for 2023:
The Swedish electricity market – today and in the future
Pär Holmberg and Thomas Tangerås, who both work at the Research Institute of Industrial Economics, describe the Swedish electricity market, how it functions today and they also look to the future. At the Riksbank, interest in the functioning of the electricity market increased in connection with electricity prices rising substantially towards the end of 2021, one of the most important reasons why inflation in Sweden rose rapidly and unexpectedly. The article provides an overview that can be interesting for a broad general public. [Article]
Open mouth operations: Monetary policy by threats and argument
Lars Jonung, Professor Emeritus at Lund University, describes the minutes from the weekly meetings between the Riksbank and the management of the Swedish Bankers' Association during the period 1956-1973. The review gives an insight into how monetary policy in Sweden was conducted during this period, which was dominated by the extensive credit market regulations, and when the current monetary policy tools were not accessible in the same way as now.
This article is only available in English. [Article]