Ulf Söderström
Research
Work in progress
Publications in journals and volumes
The role of money in monetary policy at the lower bound
with Roberto Billi and Carl E. Walsh
Journal of Money, Credit and Banking 55 (4), June 2023, 681-716.
The dynamic behavior of the real exchange rate in sticky price models: Comment
with Jens Iversen
American Economic Review 104 (3), March 2014, 1072-1089.
Structural and cyclical forces in the labor market during the Great Recession: Cross-country evidence
with Luca Sala and Antonella Trigari
in NBER International Seminar on Macroeconomics 2012, edited by Francesco Giavazzi and Kenneth West, University of Chicago Press.
Re-evaluating Swedish membership in EMU: Evidence from an estimated model
in Europe and the Euro, edited by Alberto Alesina and Francesco Giavazzi, University of Chicago Press, 2010, 379-414.
Inflation target transparency and the macroeconomy
with Martin Melecky and Diego Rodríguez Palenzuela
in Monetary Policy under Uncertainty and Learning, edited by Klaus Schmidt-Hebbel and Carl E. Walsh,
Monetary policy in an estimated open-economy model with imperfect pass-through
with Marianne Nessén and Jesper Lindé
International Journal of Finance and Economics 14 (4), October 2009, 301-333.
Methods for robust control
with Richard Dennis and Kai Leitemo
Journal of Economic Dynamics and Control 33 (8), August 2009, 1604-1616.
Robust monetary policy in a small open economy
with Kai Leitemo
Journal of Economic Dynamics and Control 32 (10), October 2008, 3218-3252.
Monetary policy under uncertainty in an estimated model with labor market frictions
with Luca Sala and Antonella Trigari
Prepared for the Carnegie-Rochester Conference Series on Public Policy, November 2007.
Journal of Monetary Economics 55 (5), July 2008, 983-1006.
Robust monetary policy in the New Keynesian framework
with Kai Leitemo
Macroeconomic Dynamics 12 (S1), April 2008, 126-135.
How important is precommitment for monetary policy?
with Richard Dennis
Journal of Money, Credit, and Banking 38 (4), June 2006, 847-872.
Targeting inflation with a role for money
Economica 72 (288), November 2005, 577-596.
New-Keynesian models and monetary policy: A reexamination of the stylized facts
with Paul Söderlind and Anders Vredin
Scandinavian Journal of Economics 107 (3), September 2005, 521-546.
Dynamic Taylor rules and the predictability of interest rates
with Paul Söderlind and Anders Vredin
Macroeconomic Dynamics 9 (3), June 2005, 412-428.
Simple monetary policy rules and exchange rate uncertainty
with Kai Leitemo
Journal of International Money and Finance 24 (3), April 2005, pp. 481-507.
Monetary policy with uncertain parameters
Scandinavian Journal of Economics 104 (1), March 2002, pp. 125-145.
Monetary policy and market interest rates
with Tore Ellingsen
American Economic Review 91 (5), December 2001, pp. 1594-1607.
Core inflation and monetary policy
with Marianne Nessén
International Finance 4 (3), Winter 2001, pp. 401-439.
Predicting monetary policy with federal funds futures prices
Journal of Futures Markets 21 (4), April 2001, pp. 377-391.
Explaining devaluation expectations in the EMS
with Alexis Stenfors
Non-technical publications
How much is inflation affected by monetary policy?
with Stefan Laséen and Jesper Lindé
Economic Commentaries No. 13, 2022, Sveriges Riksbank.
Hur mycket påverkas inflationen av penningpolitiken?
Ekonomiska kommentarer Nr. 13, 2022, Sveriges Riksbank.
Forecasts and monetary policy
with Christina Nyman
Economic Commentaries No. 6, 2016, Sveriges Riksbank.
Prognoser och penningpolitik
Ekonomiska kommentarer Nr. 6, 2016, Sveriges Riksbank.
Svensk penningpolitik (Swedish monetary policy)
with David Vestin
in Marknad och politik, 12th edition, edited by Lars Hultkrantz and Pär Österholm, Studentlitteratur, 2017 (also in 11th edition 2014).
Two decades of inflation targeting: Main lessons and remaining challenges
with Claes Berg, Kerstin Hallsten, and Virginia Queijo von Heideken
Sveriges Riksbank Economic Review No. 3, 2013, pp. 4-28.
Två decennier med inflationsmål: lärdomar och nya utmaningar
Sveriges Riksbank Penning- och valutapolitik Nr. 3, 2013, sid. 4-28.
Inflation, unemployment and monetary policy - New research findings
with Gabriela Guibourg and Christian Nilsson
Sveriges Riksbank Economic Review No. 2, 2013, pp. 1-16.
Inflation, arbetslöshet och penningpolitik - Nya forskningsrön
Sveriges Riksbank Penning- och valutapolitik Nr. 2, 2013, sid. 1-16.
Inflation, unemployment and monetary policy
with Anders Vredin
Economic Commentaries No. 1, 2013, Sveriges Riksbank.
Inflation, arbetslöshet och penningpolitik
Ekonomiska kommentarer Nr. 1, 2013, Sveriges Riksbank
Monetary policy when the interest rate is zero
with Andreas Westermark
Sveriges Riksbank Economic Review No. 2, 2009, pp. 5-30.
Penningpolitik när styrräntan är noll
Sveriges Riksbank Penning- och valutapolitik Nr. 2, 2009, sid. 5-30.
The monetary transmission mechanism
with Elisabeth Hopkins and Jesper Lindé
Sveriges Riksbank Economic Review No. 2, 2009, pp. 31-50.
Den penningpolitiska transmissionsmekanismen
Sveriges Riksbank Penning- och valutapolitik Nr. 2, 2009, sid. 31-50.
The transmission mechanism and the financial crisis
with Elisabeth Hopkins and Jesper Lindé
Sveriges Riksbank Economic Review No. 2, 2009, pp. 51-71.
Transmissionsmekanismen och den finansiella krisen
Sveriges Riksbank Penning- och valutapolitik Nr. 2, 2009, sid. 51-70.
Norges Bank Watch 2007: An Independent Review of Monetary Policymaking in Norway
(with Marvin Goodfriend and Knut Anton Mork),
Norges Bank Watch Report Series No. 8, Centre for Monetary Economics,
BI Norwegian School of Management, 2007.
How does the inflation target affect the economy?
with Malin Adolfson
Sveriges Riksbank Economic Review No. 1, 2003, pp. 50-75.
Hur påverkas ekonomin av inflationsmålet?
Sveriges Riksbank Penning- och valutapolitik Nr. 1, 2003, sid. 49-74.
The conquest of American inflation: A summary
with Thomas J. Sargent
Sveriges Riksbank Economic Review No. 3, 2000, pp. 12-45.
Sveriges Riksbank Penning- och valutapolitik Nr. 3, 2000, sid. 58-91.
The conquest of inflation - An introduction to Sargent's analysis
with Anders Vredin
Sveriges Riksbank Economic Review No. 3, 2000, pp. 5-11.
Att besegra inflationen - En introduktion till Sargents analys
Sveriges Riksbank Penning- och valutapolitik Nr. 3, 2000, sid. 50-57.
Different ways of conducting inflation targeting - Theory and practice
with Mikael Apel, Marianne Nessén and Anders Vredin
Sveriges Riksbank Quarterly Review No. 4, 1999, pp. 13-42.
Olika sätt att bedriva inflationsmålspolitik - Teori och praktik
Sveriges Riksbank Penning- och valutapolitik Nr. 4, 1999, sid. 13-42.
Older unpublished working papers
Real-time forecasting for monetary policy analysis: The case of Sveriges Riksbank
with Jens Iversen, Stefan Laséen and Henrik Lundvall
Sveriges Riksbank Working Paper No. 318, March 2016
The output gap, the labor wedge, and the dynamic behavior of hours
with Luca Sala and Antonella Trigari
Sveriges Riksbank Working Paper No. 246, September 2010
CEPR Discussion Paper No. 8005, September 2010
Monetary policy in a small open economy with a preference for robustness
with Richard Dennis and Kai Leitemo
Federal Reserve Bank of San Francisco Working Paper No. 2007-04, November 2006
IGIER Working Paper No. 316, December 2006
CEPR Discussion Paper No. 6067, January 2007
Revised April 2009
The predictive power of the yield spread: Further evidence and a structural interpretation
with Carlo A. Favero and Iryna Kaminska
IGIER Working Paper No. 280, February 2005
CEPR Discussion Paper No. 4910, February 2005
Revised June 2005
Why are long rates sensitive to monetary policy?
with Tore Ellingsen
IGIER Working Paper No. 256, March 2004
Sveriges Riksbank Working Paper No. 160, March 2004
CEPR Discussion Paper No. 4360, April 2004
Revised May 2005
Should central banks be more aggressive?
Working Paper No. 84, Sveriges Riksbank, May 1999.
Revised August 2000