Lars Erik Oscar Svensson, is a

Swedish Swedish or ' may refer to: Anything from or related to Sweden, a country in Northern Europe. Or, specifically: * Swedish language, a North Germanic language spoken primarily in Sweden and Finland ** Swedish alphabet, the official alphabet used by ...

economist An economist is a professional and practitioner in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this field there are ...

. He was on the faculty of

Princeton University Princeton University is a private research university in Princeton, New Jersey. Founded in 1746 in Elizabeth as the College of New Jersey, Princeton is the fourth-oldest institution of higher education in the United States and one of the ...

2001–2009. Since June 2014, he is Affiliated Professor at the

Stockholm School of Economics The Stockholm School of Economics (SSE; sv, Handelshögskolan i Stockholm, HHS) is a private business school located in city district Vasastaden in the central part of Stockholm, Sweden. SSE offers BSc, MSc and MBA programs, along with ...

. Since 2009 he is Affiliated Professor at Stockholm University. He has published significant research in macroeconomics, especially

monetary economics Monetary economics is the branch of economics that studies the different competing theories of money: it provides a framework for analyzing money and considers its functions (such as medium of exchange, store of value and unit of account), and ...

international trade International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (see: World economy) In most countries, such trade represents a significant ...

and general equilibrium theory. He is among the most influential economists in the world according to IDEAS/RePEc. He is a well-known proponent of price path targeting, a topic on which he published significant research. During 2007–2013 he was a deputy governor of the

Sveriges Riksbank Sveriges Riksbank, or simply the ''Riksbank'', is the central bank of Sweden. It is the world's oldest central bank and the fourth oldest bank in operation. Etymology The first part of the word ''riksbank'', ''riks'', stems from the Swedish w ...

(the central bank of Sweden). From 2009 he dissented and advocated a more expansionary monetary policy for Sweden, since the unemployment rate was high and inflation fell far below the Riksbank's inflation target. He is also notable for advocating a slightly negative interest rate among

central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central b ...

s at the Riksbank in July 2009.

Early life and education

Svensson earned his M.S. in mathematics in 1971 from the School of Applied Mathematics at the Royal Institute of Technology in Stockholm and his B.A. in economics, economic history and mathematics in 1973 at the Stockholm University. After studying as a Special Graduate Student in economics at the

Massachusetts Institute of Technology The Massachusetts Institute of Technology (MIT) is a private land-grant research university in Cambridge, Massachusetts. Established in 1861, MIT has played a key role in the development of modern technology and science, and is one of the ...

in 1974–75, he received his Ph.D. from the Stockholm University in 1976.

Career

Between 1975–1984 Svensson was a Research Fellow of the Institute for International Economic Studies at the Stockholm University and, until 2001, he was a professor of international economics at the same institute. During 2001–2009 he was a professor of economics at Princeton University. Before joining the Sveriges Riksbank as a deputy governor, in 2007, for a six-year term period, he acted as an advisor for many organizations, including the

World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Inte ...

, the Federal Reserve Bank of New York and the

Reserve Bank of New Zealand The Reserve Bank of New Zealand (RBNZ, mi, Te Pūtea Matua) is the central bank of New Zealand. It was established in 1934 and is constituted under the Reserve Bank of New Zealand Act 1989. The governor of the Reserve Bank is responsible for N ...

. He left the Riksbank in 2013. From 2009 he is an affiliated professor at the Institute for International Economic Studies, Stockholm University. Svensson was the recipient of the Great Gold Medal of the Royal Swedish Academy of Engineering Sciences in 2012. He is a member of the Royal Swedish Academy of Sciences since 1989, a fellow of the

Econometric Society The Econometric Society is an international society of academic economists interested in applying statistical tools to their field. It is an independent organization with no connections to societies of professional mathematicians or statisticians. ...

and a fellow of the

European Economic Association The European Economic Association (EEA) is a professional academic body which links European economists. It was founded in the mid-1980s. Its first annual congress was in 1986 in Vienna and its first president was Jacques Drèze. The current pres ...

Other activities

European Systemic Risk Board The European Systemic Risk Board () is a group established on 16 December 2010 in response to the ongoing financial crisis. It is tasked with the macro-prudential oversight of the financial system within the European Union in order to contrib ...

(ESRB), Member of the Advisory Scientific Committee since April 2019Advisory Scientific Committee (ASC)

(ESRB).

References

External links

Lars E.O. Svensson's homepage
{{DEFAULTSORT:Svensson, Lars E.O. Swedish economists Monetary economists KTH Royal Institute of Technology alumni Stockholm University alumni Members of the Royal Swedish Academy of Sciences Fellows of the Econometric Society Fellows of the American Academy of Arts and Sciences Princeton University faculty 1947 births Living people Fellows of the European Economic Association