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. He was on the faculty of Princeton University 2001–2009. Since June 2014, he is Affiliated Professor at the Stockholm School of Economics. Since 2009 he is Affiliated Professor at Stockholm University. He has published significant research in

macroeconomics Macroeconomics (from the Greek prefix ''makro-'' meaning "large" + ''economics'') is a branch of economics dealing with performance, structure, behavior, and decision-making of an economy as a whole. For example, using interest rates, taxes, and ...

, especially monetary economics, international trade and

general equilibrium theory In economics, general equilibrium theory attempts to explain the behavior of supply, demand, and prices in a whole economy with several or many interacting markets, by seeking to prove that the interaction of demand and supply will result in an ov ...

. He is among the most influential economists in the world according to

IDEAS/RePEc Research Papers in Economics (RePEc) is a collaborative effort of hundreds of volunteers in many countries to enhance the dissemination of research in economics. The heart of the project is a decentralized database of working papers, preprints, ...

. 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 (the central bank of

Sweden Sweden, formally the Kingdom of Sweden,The United Nations Group of Experts on Geographical Names states that the country's formal name is the Kingdom of SwedenUNGEGN World Geographical Names, Sweden./ref> is a Nordic country located on ...

). 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 An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, th ...

among central banks 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 The KTH Royal Institute of Technology ( sv, Kungliga Tekniska högskolan, lit=Royal Institute of Technology), abbreviated KTH, is a public research university in Stockholm, Sweden. KTH conducts research and education in engineering and technolo ...

Stockholm Stockholm () is the Capital city, capital and List of urban areas in Sweden by population, largest city of Sweden as well as the List of urban areas in the Nordic countries, largest urban area in Scandinavia. Approximately 980,000 people liv ...

and his B.A. in economics, economic history and mathematics in 1973 at the

Stockholm University Stockholm University ( sv, Stockholms universitet) is a public research university in Stockholm, Sweden, founded as a college in 1878, with university status since 1960. With over 33,000 students at four different faculties: law, humanities, so ...

. After studying as a Special Graduate Student in economics at the Massachusetts Institute of Technology 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

Federal Reserve Bank of New York The Federal Reserve Bank of New York is one of the 12 Federal Reserve Banks of the United States. It is responsible for the Second District of the Federal Reserve System, which encompasses the State of New York, the 12 northern counties of New ...

and the Reserve Bank of New Zealand. 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 The Royal Swedish Academy of Sciences ( sv, Kungliga Vetenskapsakademien) is one of the Swedish Royal Academies, royal academies of Sweden. Founded on 2 June 1739, it is an independent, non-governmental scientific organization that takes special ...

since 1989, a fellow of the Econometric Society and a fellow of the European Economic Association.

Other activities

* European Systemic Risk Board (ESRB), Member of the Advisory Scientific Committee since April 2019Advisory Scientific Committee (ASC)
European Systemic Risk Board (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