Svensson launches fresh attack on leaning against the wind

Lars Svensson
Lars Svensson
Photo: Nils S Aasheim, Norges Bank

Lars Svensson has relaunched his attack on the policy of ‘leaning against the wind’, publishing a new paper that finds the costs of the policy far outweigh the benefits.

Leaning against the wind (Law), or using monetary policy to meet financial stability goals, is generally unpopular among central banks. Many fear the costs of the policy are too high, in line with Svensson’s result. However, the policy does have some major proponents, notably at the Bank for International Settlements.

Svensson

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.