Jesper Lindé

Jesper Lindé

Forskningschef

Avdelningen för penningpolitik
Forskningsenheten
Sveriges Riksbank
SE-103 37 Stockholm, Sweden

Telefon + 46 8 787 08 73
E-post jesper.linde@riksbank.se

Monetary and fiscal policy, open economy macroeconomics, credit risk modelling

Education

Ph.D., Economics Stockholm School of Economics, 1999
MSc in Economics, University college of Örebro, 1994  


Work in progress and working papers

"Resolving the Missing Deflation Puzzle", work in progress (with Mathias Trabandt).

"On the merits of conventional vs unconventional fiscal policy", work in progress (with Matthieu Lemoine).

"Monetary and Macroprudential Policies in a Low Interest Rate Environment", work in progress (with J. Chen, D. Finocchiaro, and K. Walentin).

"Reassessing the Stability of the Rudebusch and Svensson Model", work in progress (with John Weber).

"Optimal Monetary Policy in the New Keynesian Hybrid Model Under the Zero Lower Bound", work in progress, pdf available (with James Hebden and Lars E.O. Svensson).


Publications in refereed journals 

"Identification versus Misspecification in New Keynesian Monetary Policy Models", Forthcoming, European Economic Review (with M. Adolfson, S. Laséen, and M. Ratto).

"The Macroeconomic Effects of Trade Tariffs: Revisiting the Lerner Symmetry Result", Forthcoming, Journal of International Money and Finance (with A. Pescatori).

"Designing a Simple Loss Function for the Fed: Does the Dual Mandate Make Sense?", Forthcoming, Economic Journal (with Davide Debortoli, Jinill Kim and Ricardo Nunes).

"Should We Use Linearized Models to Compute Fiscal Multipliers at the ZLB?", Journal of Applied Econometrics. 2018 (with M. Trabandt).

"DSGE Models: Still Useful in Policy Analysis?", Oxford Review of Economic Policy. 2018.

"Jump-Starting the Euro Area Recovery: Would a Rise in Core Fiscal Spending Help the Periphery?", NBER Macroannual, 2016 (with O. Blanchard and C. Erceg).

"Challenges for Central Banks' Macro Models", Handbook of Macroeconomics 2016 (with F. Smets and R. Wouters).

"Fiscal Consolidation Under Imperfect Credibility", European Economic Review, 2016 (with M. Lemoine).

"Monetary Policy Trade-Offs in an Estimated Open-Economy DSGE Model", Journal of Economic Dynamics and Control, 2014 (with M. Adolfson, S. Laséen and L. E.O. Svensson).

"Fiscal Consolidation in a Currency Union: Spending Cuts vs. Tax Hikes", Journal of Economic Dynamics and Control, 2013 (with C. Erceg).

"Is There a Fiscal Free Lunch in a Liquidity Trap?", Journal of the European Economic Association, 2013 (with C. Erceg).

"Firm Default and Aggregate Fluctuations", with Tor Jacobson and Kasper Roszbach, Journal of the European Economic Association, vol 11, (4), 2013, pages 945–972.

CEPR discussion paper no. 7083, Appendix July 2011

"Fiscal Consolidation in an Open Economy", American Economic Review: Papers and Proceedings, 2012 (with C. Erceg).

"Effects of Fiscal Stimulus in Structural Models," American Economic Journal: Macroeconomics, 2012 (with G. Coenen, C. Erceg, C. Freedman, D. Furceri, M. Kumhof, R. Lalonde, D. Laxton, A. Mourougane, D. Muir, S. Mursula, C. de Resende, J. Roberts, W. Roeger, S.

Snudden, M. Trabandt and J. in't Veld).

"Optimal Monetary Policy in an Operational Medium-Sized DSGE Model", Journal of Money, Credit and Banking, 2011 (with M. Adolfson, S. Laseen and L.E.O. Svensson).

"Firm-specific Capital, Nominal Rigidities and the Business Cycle", Review of Economic Dynamics, 2011 (with D. Altig, L.J. Christiano and M. Eichenbaum).

"Asymmetric Shocks in a Currency Union with Fiscal and Monetary Handcuffs", NBER International Seminar on Macroeconomics, 2010 (with C. Erceg).

"The Effects of Permanent Technology Shocks on Hours: Can the RBC Model fit the VAR Evidence?", Journal of Economic Dynamics and Control, 2009.

"Monetary Policy in an Estimated Open Economy Model with Imperfect Pass-Through", International Journal of Finance and Economics, 2009 (with M. Nessen and U. Soderstrom)..

"Evaluating an Estimated New-Keynesian Small Open Economy Model", Journal of Economic Dynamics, and Control, 2008 (with M. Adolfson, S. Laseen and M. Villani).

"Empirical Properties of Closed and Open Economy DSGE Models of the Euro Area", Macroeconomic Dynamics, 2008 (with M. Adolfson and M. Villani).

"Modern Forecasting Models in Action: Improving Macroeconomic Analyses at Central Banks", International Journal of Central Banking, 2007 (with M. Adolfson, M. Andersson, A. Vredin and M. Villani).

"Forecasting Performance of an Estimated Open Economy DSGE Model for the Euro Area", Econometric Reviews, 2007 (with M. Adolfson and M. Villani).

"Bayesian Estimation of an Open Economy DSGE Model with imperfect Pass-Through", Journal of International Economics, 2007 (with M. Adolfson, S. Laseen and M. Villani).

"Corporate Credit Risk Modelling and the Macroeconomy", Journal of Banking and Finance, 2007 (with K. Carling, T. Jacobson and K. Roszbach).

"Internal Ratings Systems, Implied Credit Risk and the Consistency of Banks' Risk Classification Policies", Journal of Banking and Finance, 2006 (with T. Jacobson and K. Roszbach).

"Are Constant Interest Rate Forecasts Modest Interventions? Evidence from an Estimated Open Economy DSGE Model of the Euro Area", International Finance, 2005 (with M. Adolfson, S. Laseen and M. Villani).

"Estimating New-Keynesian Phillips Curves: A Full Information Maximum Likelihood Approach", Journal of Monetary Economics, 2005.

"The Role of Sticky Prices in An Open Economy DSGE Model: A Bayesian Investigation", Journal of the European Economic Association, 2005 (with M. Adolfson, S. Laseen and M. Villani).

"Exploring Interactions between Real Activity and the Financial Stance", Journal of Financial Stability, 2005 (with T. Jacobson and K. Roszbach).

"Credit Risk versus Capital Requirements under Basel II: Are SME Loans and Retail Credit Really Different?", Journal of Financial Services and Research, 2005 (with T. Jacobson and K. Roszbach).

"Swedish Postwar Business Cycles: Generated Abroad or at Home?", Scandinavian Journal of Economics, 2004.

"Monetary Policy Analysis in Backward-Looking Models", Annales d'Economie et de Statistique, 2003 (Conference volume on the empirical relevance of the Lucas Critique in policy analysis).

"Idiosyncratic Risk in the U.S. and Sweden: Is There a Role for Government Insurance?", Review of Economic Dynamics, 2001 (with M. Floden).

"Testing for the Lucas Critique: A Quantitative Investigation", American Economic Review, 2001.

"Fiscal Policy and Interest Rates in a Small Open Economy", Finnish Economic Papers, 2001.


Other publications

The SNEPQ Econometric Model of the Swedish Economy (with Lennart Berg, Villy Bergstrom, Reinhold Bergstrom and Christian Nilsson), 1997, FIEF, Stockholm.

"Credit ratings and the business cycle: Can bankruptcies be forecast?" (with Tor Jacobson), Sveriges Riksbank Economic Review No. 4, 2000, pp. 11-33.

"The IRB approach in the Basel Committeés proposal for new capital requirements regulation: simulation based illustrations" (with Tor Jacobson and Kasper Roszbach), Sveriges Riksbank Economic Review No. 4, 2002, pp. 35-72.

"RAMSES – a new general equilibrium model for monetary policy analysis" (with Malin Adolfson, Stefan Laséen, and Mattias Villani), Sveriges Riksbank Economic Review No. 2, 2007

"The Monetary Transmission Mechanism" (with Elisabeth Hopkins and Ulf Söderström), Sveriges Riksbank Economic Review No. 1, 2009, pp. 31-50.

"The Monetary Transmission Mechanism and the Financial Crisis" (with Elisabeth Hopkins and Ulf Söderström), Sveriges Riksbank Economic Review No. 1, 2009, pp. 51-71.


Referee

American Economic Review, American Economic Journal: Macroeconomics, Annales d'Economie et de Statistique, B.E. Press in Macroeconomics, Economica, Econometrica, Economic Journal, Economic Inquiry, Economic Modelling, Econometrics Journal, European Economic Review, Economic Letters, Finnish Economic Papers, International Economic Review, International Finance, International Journal of Central Banking, Journal of Applied Econometrics, Journal of Banking and Finance, Journal of Business and Economic Statistics, Journal of the European Economic Association, Journal of Economic Dynamics and Control, Journal of Economic Studies, Journal of International Economics, Journal of International Money and Finance, Journal of Macroeconomics, Journal of Money, Credit, and Banking, Journal of Monetary Economics, Journal of Political Economy, Review of Economic Dynamics, Review of Economic Studies, Review of Economics and Statistics, Scandinavian Journal of Economics, Southern Economic Journal, Quantitative Review in Economics and Finance

Outstanding referee award: American Economic Review 2013, Journal of Economic Dynamics and Control 2010.

Associate Editor: Scandinavian Journal of Economics, 2013 -