Riksbank establishes new research agenda with four focus areas

The Riksbank's Executive Board has approved a new research agenda, outlining four key areas for future analysis. This agenda aims to inform about ongoing research and critical topics for the central bank.

Four pillars for future economic insight

The Riksbank's new research agenda establishes four core areas to guide its analytical work.

The first, 'New challenges in money, banking and payments,' will investigate how changes in the financial system impact the resilience of banks, financial markets, and the payments landscape.

Secondly, 'The monetary transmission mechanism under the microscope' will employ microdata and advanced models to scrutinize the fundamental workings of monetary policy transmission and its broader macroeconomic implications, considering diverse household and corporate behaviors.

The third area, 'Structural transitions,' focuses on the macroeconomic and financial effects of shifts in the labour market, demography, and the green economy, utilizing both aggregate and microdata.

Finally, the agenda will explore 'Monetary, fiscal and financial stability policies in interaction,' studying how these three macroeconomic stabilization domains collectively influence aggregate demand, risk-taking, and long-term credibility.

Developing scientific basis for policy

Underlying these research areas is a commitment to modern methodologies, new data sources, and perspectives relevant to the Swedish economy, including analysis for an open economy.

The overarching purpose of the Riksbank's research activities is to maintain and enhance analytical expertise, providing a scientific foundation for its policy decisions.

The objectives include conducting research of high international standards, contributing to policy departments and the Executive Board, fostering competence development within the Riksbank, and serving as a crucial link between the central bank and the academic world.

Strategic clarity for complex times

This agenda provides welcome strategic clarity on the Riksbank's analytical priorities, especially given the multifaceted challenges facing modern central banking.

While the outlined areas are broad, they appropriately cover critical intersections of monetary policy, financial stability, and structural change.

The emphasis on modern methods and microdata suggests a robust approach to developing the scientific basis needed for informed policy decisions.