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  • 151. Dreber, Anna
    et al.
    von Essen, Emma
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Ranehill, Eva
    Outrunning the Gender Gap - Boys and Girls Compete Equally2011In: Experimental Economics, ISSN 1386-4157, E-ISSN 1573-6938, Vol. 14, no 4, p. 567-582Article in journal (Refereed)
    Abstract [en]

    Recent studies find that women are less competitive than men. This gender difference in competitiveness has been suggested as one possible explanation for why men occupy the majority of top positions in many sectors. In this study we explore competitiveness in children, with the premise that both context and gendered stereotypes regarding the task at hand may influence competitive behavior. A related field experiment on Israeli children shows that only boys react to competition by running faster when competing in a race. We here test if there is a gender gap in running among 7-10 year old Swedish children. We also introduce two female sports, skipping rope and dancing, to see if competitiveness is task dependent. We find no gender difference in reaction to competition in any task; boys and girls compete equally. Studies in different environments with different types of tasks are thus important in order to make generalizable claims about gender differences in competitiveness.

  • 152.
    Edman, Gustav
    et al.
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Moegelin, Julia
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Fusket i SL-trafiken: En teoretisk studie om monopolistisk vinstmaximering2018Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
  • 153.
    Ekberg, John
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Essays in Empirical Labor Economics2004Doctoral thesis, comprehensive summary (Other academic)
    Abstract [en]

    This thesis consists of four self-contained essays in the field of empirical labor economics.

    The first essay, Nominal Wage Rigidity in the Swedish Labor Market, presents an empirical investigation of the extent of downward nominal wage rigidity on the Swedish labor market. The analysis shows that cuts in nominal basic wages are rare and the skewness of wage change distributions is negatively correlated with the median change, corroborating the existence of downward rigidity.

    The second essay, Nominal Wage Rigidity and Real Implications for the Swedish Labor Market, is based on a model of proportional downward wage rigidity. Real implications of the estimates are examined, in order to analyze the effects of downward nominal wage rigidity on the NAIRU under different inflation policies. The potential cost of downward rigidity on the long-run unemployment rate is found to be relatively moderate.

    The third essay, Firm Size -Wage Effect: Fact or Artifact?, investigates the employer size-wage premium. The inclusion of controls for specific occupations and hierarchies has a profound effect on the estimated effect. The control for hierarchies conditional on occupation results in an effect of size on wage that is not necessarily positive.

    The fourth essay, Sharing Responsibility? Short- and Long-term Effects of Sweden's "Daddy-Month" Reform. In 1995, the Swedish government reformed the parental leave system. The reform constitutes a natural experiment. Comparing two cohorts of newborns, their mothers and fathers over a period of eight years, we look at the number of days mothers and fathers take for parental leave and the number of days for care of sick children. We find that the reform had a strong short-term effect on parental leave by fathers, but that there are no long-run effects on fathers' willingness to increase their part in care for sick children.

  • 154.
    Ekberg, John
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Nominal wage rigidity and real implications for the Swedish labor marketManuscript (Other academic)
  • 155.
    Ekberg, John
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Nominal wage rigidity in the Swedish labor marketManuscript (Other academic)
  • 156.
    Ekberg, John
    et al.
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Eriksson, Rickard
    Friebel, Guido
    Sharing responsibility? Short- and Long-term effects of Sweden's "daddy-month" reformManuscript (Other academic)
  • 157.
    Ekberg, John
    et al.
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Salabasis, Mickael
    Firm size-wage effect: fact or artifact?Manuscript (Other academic)
  • 158.
    Ekholm, Karolina
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Globaliseringens drivkrafter och samhällsekonomiska konsekvenser2007Report (Other academic)
  • 159.
    Ekholm, Karolina
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Ordning och reda om outsourcing2006Report (Other academic)
  • 160.
    Ekholm, Karolina
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Sverige i en globaliserad ekonomi2007In: Marknad och politik, SNS Förlag , 2007Chapter in book (Other (popular science, discussion, etc.))
  • 161.
    Ekholm, Karolina
    et al.
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Andersen, Torben
    Bigsten, Arne
    Vlachos, Jonas
    Svensk välfärd och globala marknader: SNS Välfärdsråds rapport 20072007Report (Other (popular science, discussion, etc.))
  • 162.
    Ekholm, Karolina
    et al.
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Calmfors, Lars
    Institute for International Economic Studies.
    Andersen, Torben
    Flodén, Martin
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Hartman, Laura
    Kolm, Ann-Sofie
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Eriksson, Per-Ola
    Åsbrink, Erik
    Svensk Finanspolitik 2008: Finanspolitiska rådets rapport 20082008Report (Other academic)
  • 163.
    Ekholm, Karolina
    et al.
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Forslid, Rikard
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Markusen, James
    Export-Platform Foreign Direct Investment2007In: Journal of the European Economic Association, Vol. 5, p. 776-795Article in journal (Refereed)
  • 164.
    Ekholm, Karolina
    et al.
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Hakkala, Katariina
    Hur påverkar handel och utflyttning av produktion den svenska arbetsmarknaden?2006In: Ekonomisk Debatt, Vol. 34, p. 7-21Article in journal (Other (popular science, discussion, etc.))
  • 165.
    Ekholm, Karolina
    et al.
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Hakkala, Katariina
    Location of R&D and High-Tech Production by Vertically Integrated Multinationals2007In: Economic Journal, Vol. 117, p. 512-543Article in journal (Refereed)
  • 166.
    Ekholm, Karolina
    et al.
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Hakkala, Katariina
    Lokalisering av FoU2007In: Varför FoU?, SNS Förlag , 2007Chapter in book (Other (popular science, discussion, etc.))
  • 167.
    Ekholm, Karolina
    et al.
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Norrefalk, J. R.
    Linder, J.
    Borg, K.
    Ekholm, J.
    Evaluation of a Multiprofessional Rehabilitation Programme for Persistent Musculoskeletal Pain: Economic Benefits of Return to Work2008In: Journal of the Rehabilitation MedicineArticle in journal (Refereed)
  • 168.
    Ekström, Mathias
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Cues, Conformity, and Choice Architecture: Empirical Essays on Influence2013Doctoral thesis, monograph (Other academic)
    Abstract [en]

    This thesis consists of three papers summarized as follows. 

    “Can Indifference Make the World Greener?” We test whether the default option can nudge people to save resources in a simple, non-dynamic, decision task with only two alternatives, and where people have been explicitly informed about the recommended course of action. In a natural field experiment we switch printers’ default option, from one-sided to two-sided printing, at a random point in time. The results confirm that roughly one third of all printing is determined by the default alternative, and a green default therefore saves resources on average about 15 percent. 

    “Is Liking Contagious?” In this paper we set up a natural field experiment on the social networking service Facebook to study whether people are more prone to Like a status update if someone else has done so before. We distinguish between three treatments: (i) one unknown person Likes the update, (ii) three unknown persons Like the update and (iii) the most connected person Likes the update. Whereas the first condition had no effect, the latter two more than doubled the probability to press the Like button, implying that both the number of predecessors and social proximity matters. Neither limited attention, nor observational learning, is consistent with the results. Conformity is therefore the most plausible mechanism behind our finding. 

    “Do Watching Eyes Affect Charitable Giving? Evidence from a Field Experiment” The presence of implicit observation cues, such as picture of eyes, has been shown to increase generosity in dictator games, and cooperative behavior in field settings. In this paper I test if a picture of watching eyes affects unconditional giving in a natural environment, where the recipient is a charity organization. This setting avoids: (i) experimenter demand effects, (ii) that the facial cue reminds subjects of a human counterpart, and (iii) a social multiplier effect. I find no general effect, but during days when relatively few other people visited a store the picture of eyes increased donated amount by 30 percent. This result indicates that subtle social cues can invoke reputation concerns in humans.

  • 169.
    Ekström, Mathias
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Do watching eyes affect charitable giving?: Evidence from a field experiment2012In: Experimental Economics, ISSN 1386-4157, E-ISSN 1573-6938, Vol. 15, no 3, p. 530-546Article in journal (Refereed)
    Abstract [en]

    The presence of implicit observation cues, such as picture of eyes, has been shown to increase generosity in dictator games, and cooperative behavior in field settings. I combine these approaches, by testing if a picture of watching eyes affects unconditional giving in a natural environment, where the recipient is a charity organization. Taken together, this study reduces the influence of three potential confounding factors in previous experiments: (i) experimenter demand effects, (ii) that the facial cue reminds subjects of a human counterpart, and (iii) a social multiplier effect. Specifically, the paper reports results from an experiment, conducted in a Swedish supermarket chain, where customers face a naturally occurring decision problem. People who recycle cans and bottles have to choose whether to keep the recycled amount or donate it to a charity organization. By posting a picture of human eyes on recycling machines, I am able to test whether this causes an increase in donations to the charity. Based on a sample covering a 12-day period, 38 stores and 16775 individual choices, I find no general effect. However, when controlling for store and day fixed effects, and using a proxy for store attendance, the picture of eyes increased donated amount by 30 percent during days when relatively few other people visited the store. This result gives further support to the conclusion that subtle social cues can invoke reputation concerns in humans, although the relatively small effect suggests that previous estimates could be biased upward, or at least that the influence of observational cues is context dependent.

  • 170.
    Engström, Gustav
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Essays on Economic Modeling of Climate Change2012Doctoral thesis, monograph (Other academic)
    Abstract [en]

    Structural change in a two-sector model of the climate and the economy introduces issues concerning substitutability among goods in a two-sector economic growth model where emissions from fossil fuels give rise to a climate externality. Substitution is modeled using a CES-production function where the intermediate inputs differ only in their technologies and the way they are affected by the climate externality. I derive a simple formula for optimal taxes and resource allocation over time and highlight model sensitivity w.r.t the elasticity of substitution and distribution parameters.

    Energy Balance Climate Models and General Equilibrium Optimal Mitigation Policies  develops a one-dimensional energy balance climate model with heat diffusion and anthropogenic forcing across latitudes driven by global fossil fuel use coupled to an economic growth model. Our results suggest that if the implementation of international transfers across latitudes are not possible or costly, then optimal taxes are in general spatially non-uniform and may be lower at poorer latitudes.

    Energy Balance Climate Models, Damage Reservoirs and the Time Profile

    of Climate Change Policy explores optimal mitigation policies through the lens of a latitude dependent energy balance climate model coupled to an economic growth model. We associate the movement of an endogenous polar ice cap with the idea of a damage reservoir being a finite source of climate related damages affecting the economy. The analysis shows that the introduction of damage reservoirs  can generate multiple steady states and Skiba points.

    Assessing Sustainable Development in a DICE World investigates a method for assessing sustainable development under climate change in the Dynamic Integrated model of Climate and the Economy (DICE-2007 model). The analysis shows that the sustainability measure is highly sensitive to the calibration of the inter-temporal elasticity parameter and discount rate of the social welfare function.

  • 171. Engström, Per
    et al.
    Kolm, Ann-Sofie
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Liang, Che-Yuan
    Maternal-Biased Parental Leave2009In: Journal of Economic Psychology, ISSN 0167-4870, E-ISSN 1872-7719, Vol. 30, no 4, p. 583-590Article in journal (Refereed)
    Abstract [en]

    The division of parental leave time between parents is in most countries extremely skewed towards mothers. In this paper we argue that, although it may be rational for a family to let the mother take the main part of the parental leave, the division is too skewed towards the mother even from the family’s own perspective. The reason for this inefficiency is that parents have present-biased preferences, which make them place too much weight on the immediate utility effects of childcare. Time-consistent welfare can therefore be improved by increasing fathers’ share of the family’s parental leave time. In the light of recent regulations in the parental leave system in many countries, we argue that provision of commitment devices is more preferable than regulation when preferences are heterogeneous or uncertain.

  • 172.
    Erixon, Lennart
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    A Social Innovation or a Product of Its Time?: The Rehn-Meidner Model’s Relation to Contemporary Economics and the Stockholm School2011In: European Journal of the History of Economic Thought, ISSN 0967-2567, E-ISSN 1469-5936, Vol. 18, no 1, p. 85-123Article in journal (Refereed)
    Abstract [en]

    A wage and economic-policy programme for full employment, price stability, growth and equity was developed by two Swedish trade-union economists in the early post-war period. A restrictive macroeconomic policy, a wages policy of solidarity and an active labour-market policy are the cornerstones of the Rehn-Meidner model. The model was influenced by Hans Singer's analysis of the fallacies of incomes policy under full employment conditions. However, it is difficult to find equivalences in contemporary economics to the model's combination of policy goals and instruments, its proposed relation between the instruments, or to its emphasis on the role of actual profits in wage formation.

  • 173.
    Erixon, Lennart
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Bent Hansen and the Economic Theory of the Swedish Model2010Conference paper (Other academic)
  • 174.
    Erixon, Lennart
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Can fiscal austerity be expansionary in present-day Europe?: The lessons from Sweden2015In: Review of Keynesian Economics, ISSN 2049-5323, E-ISSN 2049-5331, Vol. 3, no 4, p. 567-601Article in journal (Refereed)
    Abstract [en]

    In the aftermath of a deep recession and public budget crisis, a Social Democrat government pursued an ambitious fiscal austerity policy in Sweden in the mid 1990s. Economic advisors were guided by the idea that fiscal austerity would have neutral or expansionary effects on output and employment. In order to avoid large public deficits in the future, the government also introduced radical fiscal rules. The main conclusion in this article is that the fiscal austerity measures in the mid 1990s delayed the Swedish economic recovery and that neither these measures nor the radical fiscal rules were responsible for Sweden's impressive macroeconomic performance in the following years. The positive economic development in Sweden up until the Great Recession was driven by export, profit and technology, reflecting an international upswing and the country's flexible exchange rates and industrial composition. The floating exchange rate, together with independent monetary policy and luck, explain why Sweden could avoid a sharp decline in GDP growth during the global financial and EMU crises. The demanding fiscal rules restricted the possibilities and willingness of the non-socialist government to respond to high unemployment with an expansionary fiscal policy.

  • 175.
    Erixon, Lennart
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Den solidariska lönepolitikens betydelse för strukturomvandlingen och tillväxten i dagens Sverige - teorier och belysningar2015In: Lönebildning bortom NAIRU / [ed] Tony Johansson, Stockholm: LO , 2015, p. 26-85Chapter in book (Other academic)
  • 176.
    Erixon, Lennart
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Den solidariska lönepolitikens betydelse för strukturomvandlingen och tillväxten i dagens Sverige - teorier och belysningar: reviderad och uppdaterad version 2018Manuscript (preprint) (Other academic)
    Abstract [sv]

    Kapitlet belyser tänkbara mekanismer bakom ett positivt samband mellan solidarisk lönepolitik och tillväxt. Det uppmärksammar också kritiken av den solidariska lönepolitiken ur tillväxtsynpunkt. En översikt över empiriska studier fokuserar på frågan om i vilken utsträckning Sveriges arbetskraftsmobilitet, strukturomvandling och produktivitetstillväxt har stimulerats av en jämn lönefördelning och en utjämning av löneskillnader. Kapitlet försöker därefter ta ett första steg i en undersökning av giltigheten hos två ”bortglömda” hypoteser om den solidariska lönepolitikens effekter på Sveriges tillväxt. En rimlig gissning är att politiken dels bidragit till en svensk specialisering på arbetsbesparande produkter, dels underlättat villigheten att ta jobb i låglönesektorer med begränsade möjligheter till automation och robotisering. Sverige är verkligen specialiserat på arbetsbesparande produkter men länderjämförelser visar inte entydigt att den solidariska lönepolitiken varit utslagsgivande. Hypotesen om att solidarisk lönepolitik ökar benägenheten att ta låglönejobb är av intresse i dag om dessa jobb blivit allt viktigare. Låglönejobb i framför allt tjänstesektorn har verkligen ökat i vikt i Sverige under det 21:a århundradet.

  • 177.
    Erixon, Lennart
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Development Blocks, Malinvestment and Structural Tensions – the Åkerman-Dahmén Theory of the Business Cycle2011In: Journal of Institutional Economics, ISSN 1744-1374, E-ISSN 1744-1382, Vol. 7, no 1, p. 105-129Article in journal (Refereed)
    Abstract [en]

    Johan Åkerman and Erik Dahmén's institutional theory of economic fluctuations is a constructive alternative to traditional macroeconomic approaches and also to modern business-cycle analysis based on microeconomic optimization models. By its integration of a business-cycle and growth perspective, Åkerman and Dahmén's analysis was similar to that of Schumpeter in Business Cycles. But their notions of malinvestment, structural tensions, and development blocks provided an original explanation of the turning points in the business cycle. The Åkerman–Dahmén approach is more valid for innovation-driven cycles such as the ICT boom in the late 1990s and the subsequent crisis than for cycles with an independent role of financial-market conditions.

  • 178.
    Erixon, Lennart
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Ekonomisk tillväxt2013In: Tillämpad makroekonomi, Lund: Studentlitteratur, 2013, 5, p. 89-99Chapter in book (Other (popular science, discussion, etc.))
  • 179.
    Erixon, Lennart
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Ekonomisk tillväxt2011In: Tillämpad makroekonomi, Stockholm: SNS , 2011, 4Chapter in book (Other academic)
    Abstract [sv]

    Nationalekonomin brukar delas upp i två huvudområden: mikroekonomi och makroekonomi. Inom mikroekonomin studerar man ekonomins grundläggande byggstenar, nämligen de enskilda hushållens och företagens beslut. Inom makroekonomin har man ett mer övergripande perspektiv. Där studerar man de stora aggregaten, som arbetslöshet, tillväxt, ränta och inflation.Det är inom dessa områden som diskussionerna är som hetast i dag. Varför är arbetslösheten så hög? Hur sköter Riksbanken sitt arbete egentligen? Varför svänger räntorna och växelkurserna så mycket? Och varför kan inte regeringen göra någonting åt alla orättvisorna? Syftet med Tillämpad makroekonomi är att på ett enkelt och lättfattligt sätt presentera nationalekonomernas syn på dessa frågor. I den fjärde upplagan är alla kapitel omarbetade och uppdaterade, och några av dem helt omskrivna.

  • 180.
    Erixon, Lennart
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Ekonomisk tillväxt2018In: Tillämpad makroekonomi, Lund: Studentlitteratur AB, 2018, 6, p. 123-135Chapter in book (Other academic)
  • 181.
    Erixon, Lennart
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    En skördetid för Dahmén? Den svenska tillväxtskolan i dagens nationalekonomi2007In: Erik Dahmén och det industriella företagandet, Ratio Institute , 2007Chapter in book (Refereed)
  • 182.
    Erixon, Lennart
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Ett land som alla andra?2007In: Ekonomisk Debatt, Vol. 35, p. 69-73Article in journal (Other (popular science, discussion, etc.))
  • 183.
    Erixon, Lennart
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Even the Bad Times Are Good – A Behavioural Theory of Transformation Pressure2007In: Cambridge Journal of Economics, Vol. 31, p. 327-348Article in journal (Refereed)
  • 184.
    Erixon, Lennart
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Formalizing a new approach to economic policy: Bent Hansen and the Rehn-Meidner model2013In: History of Economic Ideas, ISSN 1122-8792, E-ISSN 1724-2169, Vol. 29, no 2, p. 69-98Article in journal (Refereed)
  • 185.
    Erixon, Lennart
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Is Firm Renewal Stimulated by Negative Shocks? The Status of Negative Driving Forces in Schumpeterian and Darwinian Economics2016In: Cambridge Journal of Economics, ISSN 0309-166X, E-ISSN 1464-3545, Vol. 40, no 1, p. 93-121Article in journal (Refereed)
    Abstract [en]

    The idea that firms are more innovative under difficult external condition has no prominent place in evolutionary economics. The neo-Schumpeterians agree with Schumpeter that innovation is stimulated by positive driving forces and associated with industrial renewal through creative destruction. Also Darwinian economists shed light on opportunity factors (variation) and selection. On the other hand, in neoclassical Schumpeterian models, fierce competition and low product demand may enforce innovation and productivity increases in established firms. An orthodox Schumpeterian tradition even maintains that innovation in depression is the cause of the following recovery. But the orthodox Schumpeterians are as reluctant as the neoclassical Schumpeterians to elaborate the underlying psychological mechanism. In the theory of transformation pressure, firms facing an actual decline in profit are supposed to be more creative and rational, or at least more anxious to follow near-rational heuristic rules, having a positive effect as a possible over-reaction on innovation and productivity growth

  • 186.
    Erixon, Lennart
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Misstagens psykologi – fyra strategiska felslut i ekonomisk politik2009In: Häften för Kritiska Studier, ISSN 0345-4789, no 198-199Article in journal (Refereed)
  • 187.
    Erixon, Lennart
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Progressive supply-side economics: an explanation and update of the Rehn-Meidner model2018In: Cambridge Journal of Economics, ISSN 0309-166X, E-ISSN 1464-3545, Vol. 42, no 3, p. 653-697Article in journal (Refereed)
    Abstract [en]

    The Swedish Rehn-Meidner model is a unique economic- and wage-policy program for the simultaneous achievement of full employment, price stability, growth and equality. This article presents, specifies and develops the model's underlying macroeconomic theory. The Rehn-Meidner theory is a synthesis between a flex-price Kaldorian model of profit margins and a Kaleckian model where profit margins are squeezed under full-employment conditions. The theory deviates from both the Kaldorian and Kaleckian models by stressing the importance of low profit margins for productivity growth. Moreover, in the Rehn-Meidner program, full employment is guaranteed irrespective of the level of aggregate demand. The Rehn-Meidner theory and policy deserve a prominent place in macroeconomics even in the age of globalization and financialization. However, some weaknesses of the model make it necessary to modify the arguments for and partly the composition of its policy program.

  • 188.
    Erixon, Lennart
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    The Rehn-Meidner Model in Sweden: Its Rise, Challenges and Survival2010In: Journal of Economic Issues, ISSN 0021-3624, E-ISSN 1946-326X, Vol. 44, no 3, p. 677-715Article in journal (Refereed)
    Abstract [en]

    The Rehn-Meidner model recommends active labor-market policies, tight macroeconomic policies and solidarity wage policies to combine price stability, growth, full employment and equity. The golden age for the model in Sweden began in the late 1950s and ended in the early 1970s. The following postwar period was characterized by obvious deviations from the Rehn-Meidner model but also by the survival of parts of the model. The rise and partial fall of the model in Sweden is explained by changes in political institutions, wage bargaining systems, trade union power, economic policy makers and economic thinking and by experiences of economic policy in the past. However, there is weak evidence that the departure from the Rehn-Meidner model is ultimately explained by globalization and new technologies.

  • 189.
    Erixon, Lennart
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    The Swedish Third Way – An Assessment of the Performance and Validity of the Rehn-Meidner Model2008In: Cambridge Journal of EconomicsArticle in journal (Refereed)
  • 190.
    Erixon, Lennart
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Under the influence of traumatic events, new ideas, economic experts and the ICT revolution: The economic policy and macroeconomic performance of Sweden in the 1990s and 2000s2011In: Comparative Social Research, ISSN 0195-6310, Vol. 28, p. 265-329Article in journal (Refereed)
    Abstract [en]

    The new economic-policy regime in Sweden in the 1990s included deregulation, central-bank independence, inflation targets and fiscal rules but also active labour market policy and voluntary incomes policy. This chapter describes the content, determinants and performance of the new economic policy in Sweden in a comparative, mainly Nordic, perspective. The new economic-policy regime is explained by the deep recession and budget crisis in the early 1990s, new economic ideas and the power of economic experts. In the 1998–2007 period, Sweden displayed relatively low inflation and high productivity growth, but unemployment was high, especially by national standards. The restrictive monetary policy was responsible for the low inflation, and the dynamic (ICT) sector was decisive for the productivity miracle. Furthermore, productivity increases in the ICT sector largely explains why the Central Bank undershot its inflation target in the late 1990s and early 2000s. The new economic-policy regime in Sweden performed well during the global financial crisis. However, as in other OECD countries, the moderate increase in unemployment was largely attributed to labour hoarding. And the rapid recovery of the Baltic countries made it possible for Sweden to avoid a bank crisis.

  • 191.
    Erixon, Lennart
    et al.
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Johannesson, Louise
    Is the psychology of high profits detrimental to industrial renewal? Experimental evidence for the theory of transformation pressure2015In: Journal of evolutionary economics, ISSN 0936-9937, E-ISSN 1432-1386, Vol. 25, no 2, p. 475-511Article in journal (Refereed)
    Abstract [en]

    The theory of transformation pressure maintains, by reference to cognitive and emotional factors, that productivity and innovation are stimulated by a decline in actual profits. In periods of increasing profits, firms governed by historical relativism, the peak-end rule and overconfidence will opt for the status quo. In the following profit recession, actors become more alert, calculating and creative, favoring a transformation, especially if they fear that the survival of the firm is at stake. The theory of transformation pressure was tested by a within-subjects experiment where undergraduate students in macroeconomics acted as managers for an established company. The role play sheds light on the students' investment strategy choices and underlying psychological perceptions under varying profit conditions. The theory was only partly confirmed by the experiment. There are arguments in industrial economics, psychology and neuroscience for a qualified theory of transformation pressure. Productivity is enhanced by moderate pressure or by periodic shifts between hard pressure and good opportunity.

  • 192.
    Erixon, Lennart
    et al.
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Truger, Achim
    Can Austerity be Expansionary in Present-Day Europe?: Madariaga Report - 23 November 20122012Other (Other (popular science, discussion, etc.))
    Abstract [en]

    The idea that cuts in public expenditure might lead to expansionary effects due to consumers' expectations for lower taxes in the future was quite popular between the 80s and the 90s. It is gaining momentum in the current Eurozone citing the successful experiments of the mid-90s in Scandinavia and Canada as successful examples. But how much of the expansionary outcomes came from austerity in itself, and how much from external demand? If the latter counts, how can austerity avoid leading to depression when Eurozone countries embark on cuts collectively?

  • 193.
    Erixon, Lennart
    et al.
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Wadensjö, Eskil
    Stockholm University, Faculty of Social Sciences, The Swedish Institute for Social Research (SOFI).
    Gösta Rehn (1913-1996): en otålig samhällsreformator2012In: Ekonomisk debatt, ISSN 0345-2646, Vol. 40, no 8, p. 71-82Article in journal (Other academic)
  • 194.
    Fausch, Jürg
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Essays on Financial Markets and the Macroeconomy2017Doctoral thesis, monograph (Other academic)
    Abstract [en]

    Asset pricing implications of a DSGE model with recursive preferences and nominal rigidities. I study jointly macroeconomic dynamics and asset prices implied by a production economy featuring nominal price rigidities and Epstein-Zin (1989) preferences. Using a reasonable calibration, the macroeconomic DSGE model is consistent with a number of stylized facts observed in financial markets like the equity premium, a negative real term spread, a positive nominal term spread and the predictability of stock returns, without compromising the model's ability to fit key macroeconomic variables. The interest rate smoothing in the monetary policy rule helps generate a low risk-free rate volatility which has been difficult to achieve for standard real business cycle models where monetary policy is neutral. In an application, I show that the model provides a framework for analyzing monetary policy interventions and the associated effects on asset prices and the real economy.

    Macroeconomic news and the stock market: Evidence from the eurozone. This paper is an empirical study of excess return behavior in the stock market in the euro area around days when important macroeconomic news about inflation, unemployment or interest rates are scheduled for announcement. I identify state dependence such that equity risk premia on announcement days are significantly higher when the interests rates are in the vicinity of the zero lower bound. Moreover, I provide evidence that for the whole sample period, the average excess returns in the eurozone are only higher on days when FOMC announcements are scheduled for release. However, this result vanishes in a low interest rate regime. Finally, I document that the European stock market does not command a premium for scheduled announcements by the European Central Bank (ECB).

    The impact of ECB monetary policy surprises on the German stock market. We examine the impact of ECB monetary policy surprises on German excess stock returns and the possible reasons for such a response. First, we conduct an event study to asses the impact of conventional and unconventional monetary policy on stock returns. Second, within the VAR framework of Campbell and Ammer (1993), we decompose excess stock returns into news regarding expected excess returns, future dividends and future real interest rates. We measure conventional monetary policy shocks using futures markets data. Our main findings are that the overall variation in German excess stock returns mainly reflects revisions in expectations about dividends and that the stock market response to monetary policy shocks is dependent on the prevailing interest rate regime. In periods of negative real interest rates, a surprise monetary tightening leads to a decrease in excess stock returns. The channels behind this response are news about higher expected excess returns and lower future dividends.

  • 195.
    Fausch, Jürg
    et al.
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Sigonius, Markus
    The impact of ECB monetary policy surprises on the German stock market2018In: Journal of macroeconomics, ISSN 0164-0704, E-ISSN 1873-152X, Vol. 55, p. 46-63Article in journal (Refereed)
    Abstract [en]

    This paper examines the impact of ECB monetary policy surprises on German excess stock returns and the possible reasons for such a response. First, we conduct an event study to assess the impact of conventional and unconventional monetary policy on stock returns. Second, within the VAR framework of Campbell and Ammer (1993), we decompose excess stock returns into news regarding expected excess returns, future dividends and future real interest rates. We measure conventional monetary policy shocks using futures markets data. Our main findings are that the overall variation in German excess stock returns mainly reflects revisions in expectations about dividends and that the stock market response to monetary policy shocks is dependent on the prevailing interest rate regime. In periods of negative real interest rates, a surprise monetary tightening leads to a decrease in excess stock returns. The channels behind this response are news about higher expected excess returns and lower future dividends.

  • 196.
    Ferguson, Shon
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Essays on Trade, Technology and the Organization of Firms2010Doctoral thesis, monograph (Other academic)
    Abstract [en]

    "Endogenous Sunk Costs, Exporting and Heterogeneous Firms"

    Empirical evidence shows that R&D spending is highly correlated with firm productivity and highly concentrated among large firms. This paper develops a model of quality competition with heterogeneous firms that can explain these patterns. The model makes two new predictions. The first prediction is that exporters upgrade while domestic firms downgrade when trade liberalizes. The second prediction is that quality competition reduces the effect of trade liberalization along the extensive margin.

    "Endogenous Product Differentiation, Market Size and Trade"

    Recent empirical evidence suggests that average export prices are higher when firms sell in large markets. This paper offers a theoretical explanation for why we do not always see pro-competitive market size effects in the trade data for differentiated goods. The model here proposes that export prices can in fact be higher in larger countries because firms have greater incentive to differentiate their products, which increases price-cost markups. In the two-country case the model predicts that larger countries sell manufacturing goods at higher price-cost markups than smaller countries.

    "Institution-Driven Comparative Advantage, Complex Goods and Organizational Choice"

    The theory of the firm suggests that firms can respond to poor contract enforcement by vertically integrating their production process. The purpose of this paper is to examine whether firms' integration opportunities affect the way institutions determine international trade patterns. We find that vertical integration lessens the impact of a country's ability to enforce contracts on the comparative advantage of complex goods. We also find that countries with good financial institutions export disproportionately more in sectors that produce complex goods and that have a high propensity for vertical integration.

  • 197. Ferguson, Shon
    et al.
    Forslid, Rikard
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Sizing Up the Impact of Embassies on Exports2019In: Scandinavian Journal of Economics, ISSN 0347-0520, E-ISSN 1467-9442, Vol. 121, no 1, p. 278-297Article in journal (Refereed)
    Abstract [en]

    The purpose of this study is to test for the effects of trade promotion via the foreign service. The theory of trade with heterogeneous firms predicts that unilateral trade promotion allows medium-sized firms to export. We investigate the effects of trade promotion using firm-level data and information on the opening and closing of embassies abroad from the very similar neighboring countries Sweden and Norway. We use a difference-in-difference specification where firms from Norway are used as a control group for Swedish firms. Our results show that large firms as well as medium-sized firms respond to the opening of embassies.

  • 198.
    Ferguson, Shon
    et al.
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Furtan, Hartley
    Carlberg, Jared
    The Political Economy of Farmland Ownership Regulations and Land Prices2006In: Agricultural Economics, Vol. 35, p. 59-65Article in journal (Refereed)
  • 199.
    Flam, Harry
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Vestman, Roine
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Sverigefonder ger lägre avkastning än börsen2014In: Dagens Nyheter, ISSN 1101-2447Article in journal (Other (popular science, discussion, etc.))
  • 200.
    Flam, Harry
    et al.
    Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
    Vestman, Roine
    Stockholm University, Faculty of Social Sciences, Department of Economics.
    Swedish Equity Mutual Funds: performance, Persistence, and Presence of Skill2014Report (Other academic)
1234567 151 - 200 of 720
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