Jesper Lindé

Education

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

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Work in progress and working papers

Chen, Kaili & Kolasa, Marcin & Lindé, Jesper & Wang, Hou & Zabczyk, Pawel & Zhou, Jianping, 2024. "FX Market Frictions in Emerging Market Economies: A Macroeconomic Assessment," CEPR Discussion Papers 19086.

Erceg, Christopher J. & Kolasa, Marcin & Lindé, Jesper & Pescatori, Andrea, 2024. "Can Energy Subsidies Help Slay Inflation?," CEPR Discussion Papers 19085.

Erceg, Christopher J. & Kolasa, Marcin & Lindé, Jesper & Mumtaz, Haroon & Zabczyk, Pawel, 2024. "Central Bank Exit Strategies: Domestic Transmission and International Spillovers," CEPR Discussion Papers 19087.

Adrian, Tobias & Erceg, Christopher J. & Kolasa, Marcin & Lindé, Jesper & Zabczyk, Pawel, 2022. "Managing Monetary Tradeoffs in Vulnerable Open Economies," CEPR Discussion Papers 16972.

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Publications in refereed journals 

“Understanding Post-Covid Inflation Dynamics”, Journal of Monetary Economics, 2023 (with M. Harding and M. Trabandt).

“Monetary and Macroprudential Policies in a Low Interest Rate Environment”, Review of Economic Dynamics, 2023 (with J. Chen, D. Finocchiaro, and K. Walentin).

“Fiscal stimulus in liquidity traps: Conventional or unconventional policies?”, European Economic Review, 2023 (with Matthieu Lemoine).

“Resolving the Missing Deflation Puzzle”, Journal of Monetary Economics, 2022 (with M. Harding and M. Trabandt).

“Monetary Policy Strategies for the European Central Bank”, Journal of Economic Dynamics and Control, 2021 (with C. Erceg and Z. Jakab).

"Identification versus Misspecification in New Keynesian Monetary Policy Models", European Economic Review, 2019 (with M. Adolfson, S. Laséen, and M. Ratto).

"The Macroeconomic Effects of Trade Tariffs: Revisiting the Lerner Symmetry Result", Journal of International Money and Finance, 2019 (with A. Pescatori).

"Designing a Simple Loss Function for the Fed: Does the Dual Mandate Make Sense?", Economic Journal, 2019 (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", Journal of the European Economic Association, 2013 (with T. Jacobson and K. Roszbach).

"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.

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Other publications

“How much is inflation affected by monetary policy?”, Sveriges Riksbank Economic commentary no. 13, 2022 (with Stefan Laseen and Ulf Soderstrom).

“Natural versus neutral rate of interest: Parsing disagreement about future short-term interest rates”, VoxEU column July 26 2022 (with J. Platzer and R. Tietz).

“Resolving the Missing Deflation and Inflation Puzzles”, VoxEU column, 2019 (with Mathias Trabandt).

“Why central banks should not be inflation nutters”, VoxEU column, 2018 (with Davide Debortoli, Jinill Kim and Ricardo Nunes).

“Comment on Lönnroth’s article: A letter to the Riksbank parliamentary committee” (Kommentar på Johan Lönnroths artikel “Brev till den parlamentariska riksbankskomittén”) (with André Reslow) prognosmakare tillräcklig hänsyn till Sveriges omvärldsberoende”) (with André Reslow), Sveriges Riksbank Economic Review No 2, 2017, pp. 1-29,

“A Myth that Riksbank Projections have been Determined By Macro Models” (“En Myt att Riksbankens Prognoser Styrts av Modeller”) (with André Reslow) Ekonomisk Debatt No. 8 2016 and Sveriges Riksbank Economic Review No. 1 2017.

“Is there an Evident Bubble in Swedish Housing Prices?” (with Emilio Dermani and Karl Walentin), Sveriges Riksbank Economic Review No. 2, 2016, pp. 7-56.

“Effects of Unconventional Monetary Policy: Theory and Evidence” (with Ferre De Graeve), Sveriges Riksbank Economic Review No. 1, 2015, pp. 41-72.

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, IMF Economic Review, 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, Swiss Journal of Economics and Statistics, Quantitative Review in Economics and Finance, Quarterly Journal of Economics.

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

Associate Editor: Scandinavian Journal of Economics, 2013 –