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1	NEUTRALA PENNINGPOLITIKEN- ÄR DET ENS MÖJLIG : En kvalitativ av den svenska penningpolitiken / Neutral monetary policy : – is it possible? Vestring, Nils January 2022 (has links) This study will examine the Swedish monetary policy debate, where there is anongoing discussion regarding the monetary policy role and financial policy role. Furthermore,formulating how the central bank's objectives should look is a classic economic question. Thestudy aims to investigate whether there is a political dimension to the arguments of theparliamentary parties' proposals. Furthermore, if those proposals related to a classic conflict inSwedish politics between the left and the right. The debate has got a new fuel after thefinancial crises of 2007-2008. The central bank around the world accepted substantialmonetary policy stimulus to get the economy spinning again. This crisis exemplified howvulnerable the global economy market is; for a long time, an outspread fear had happenedwhen the de economy slowed down. The Riksbank is critical to the new proposal becausethey think the separation of power and monetary tools they can use will hurt their ability toguide the Swedish economy when the next crisis comes. The Riksdag soon vote on thismatter. Formulating the monetary policy is essential for this study and understanding how theSwedish political parties have viewed inflation and why they delegated this assignmentbecause the credit is more significant to fulfilling the inflation target. The study also discusseswhat happens when an inflation chock hits the economy and how different a central bank whita strict inflation target meet the challenge and pushes the inflation down faster to meet theinflation target. When a central bank has inflation and unemployment, it takes longer to getthe inflation back to the inflation target because they also must fulfil the unemployment goal.This study shows a political dimension in the monetary policy debate, where political partiesall want the Parliament to have a more significant role in the decision making for theParliament. Swedish Riksbank. monetary policy inflation government Vänsterparitet Social Sciences Samhällsvetenskap Political Science Statsvetenskap
2	Is Swedish monetary policy current or forward-looking? : A study using Taylor rules to explain the setting of the repo rate Veskoukis, Andreas, Willman, Anna January 2019 (has links) The purpose of this paper is to examine how a current-looking Taylor rule explains the setting of the repo rate by the Riksbank between 1995-2018 vis-à-vis a forward-looking Taylor rule. Furthermore, we investigate whether the explanatory power of these rules change after the financial crisis. The implied Taylor rates are calculated using our own estimates of the natural rate of interest. These rates are then plotted on a graph creating a span of uncertainty in which the repo rate can be set between. Finally, we regress the repo rate on the Taylor rates. In this way, we examine which rule is more in line with the repo rate. The results showed that a forward-looking Taylor rule based on a varying real interest rate is more in line with the repo rate than the current-looking rule, both for the period as a whole and after 2008. The explanatory power of both rules decreases in the period following 2008. Taylor rule repo rate inflation expected inflation output gap natural rate of interest monetary policy Swedish Riksbank Economics Nationalekonomi
3	Cash is [no longer] king: is an e-krona the answer? : - a de lege ferenda investigation of the Swedish Riksbank's issuing mandate and other legal callenges in relation to economic effects on the payment market Imamovic, Arnela January 2019 (has links) For the past decades, the Swedish public’s payment habits have changed, where the majority of the public has abandoned the old way of making payments, using cash, and instead opted for more modern payment solutions, digital money. The difference between cash and digital money is that cash is physical and only issued by the Riksbank, whereas digital money is created by and stored on accounts at commercial banks. The question of what role the state should have on the payment market is an important point of discussion. But it is not categorically a new question; the Swedish government is tackling essentially the same problem today as it has been doing many times before. Today’s problem is to some extent however manifested in a different way. During the 20th century, discussions were held whether or not the Riksbank should have the exclusive right to issue banknotes. It was considered unnecessary, inappropriate and dangerous. The idea that the Riksbank could cover the entire economy’s need for banknotes was, according to the commercial banks, unreasonable. Nonetheless, in 1904 the exclusive right became fait accompli; the government intervened and gave the Riksbank the banknote monopoly. We are now finding ourselves facing a similar situation, where there is a difference of opinion regarding the Riksbank’s role on the payment market. It is therefore nothing new, but rather an expected task for the government, and thus the central bank, to analyze major changes and draw conclusions from them. The problem is essentially about cash being phased out by digital means of payment. In order to therefore solve the problem, the Riksbank has started a project to investigate whether or not the Riksbank should issue digital cash to the Swedish public, what the Riksbank calls an e-krona. To introduce an e-krona would be a major step, but for the public to not have access to a government alternative, seeing as cash usage is declining, is also a major step. No decision has been made yet regarding whether the e-krona will be introduced on the market or not. A decision that however has been made, is that the Riksbank is now working on building an e-krona to develop and assess the technique. Nonetheless, an introduction would undoubtedly have consequences for both the Riksbank and the commercial banks, which ultimately means it would have effects on the economy as a whole. What about regulatory aspects; is the Riksbank even allowed to issue an e-krona under current legislation? The answer is affirmative, to a certain extent. There are furthermore many other uncertainties regarding how an e-krona would affect the economy; the Riksbank does not fully answer many of the system issues in its project reports. The question of whether or not it even is up to the Riksbank to make a decision on the matter of an introduction is also questioned by the author in the thesis. E-crown e-crown project central bank digital currency money cash banknotes and coins physical money tangibles currency legal tender the Swedish Riksbank Act commercial bank money digital money the Swedish Riksbank central bank commercial bank bank banking law law jurisprudence monetary policy safe and efficient payment system cash-provision economy the payment system digitalization development of society fractional reserve banking bank run zero lower bound E-krona e-kronaprojekt digital centralbankspeng pengar kontanter sedlar och mynt fysiska pengar valuta lagliga betalningsmedel affärsbankspengar digitala pengar Riksbanken centralbank affärsbank bank bankrätt juridik Lag (1988:1385) om Sveriges riksbank penningpolitik säkert och effektivt betalningsväsende kontantförsörjning ekonomi betalningssystemet digitalisering samhällsutveckling fractional reserve banking bankrusning zero lower bound Law and Society Juridik och samhälle

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