-
Employee Profile

Tommy Sveen

Head of Department - Department of Economics

Biography

Tommy Sveen is Professor of Economics at BI Norwegian Business School. He holds a PhD (Dr.Oecon) in Economics from the Norwegian School of Economics (NHH).

Research areas
Monetary Economics, Macroeconomics, Open Economy Macroeconomics

Please see Tommy Sveen's RePEc/IDEAS entry

Area of Expertise

Publications

Reiter, Michael; Sveen, Tommy & Weinke, Lutz (2023)

Idiosyncratic Shocks, Lumpy Investment and the Monetary Transmission Mechanism

The B.E. Journal of Macroeconomics, 23(2), s. 1037- 1055. Doi: 10.1515/bejm-2022-0129

Standard (S, s) models of lumpy investment allow us to match many aspects of the micro data, but it is well known that the implied interest rate sen- sitivity of investment is unrealistically large. In fact, the micro-level lumpiness in investment puts empirical discipline on the modeling of investment decisions, and this makes it hard to explain the monetary policy transmission mechanism.

Bergholt, Drago; Røisland, Øistein, Sveen, Tommy & Torvik, Ragnar (2023)

Monetary policy when export revenues drop

Journal of International Money and Finance, 137 Doi: 10.1016/j.jimonfin.2023.102893

Furlanetto, Francesco; Sveen, Tommy & Weinke, Lutz (2020)

Technology and the two margins of labor adjustment: A New Keynesian perspective

The B.E. Journal of Macroeconomics, 20(1), s. 1- 18. Doi: 10.1515/bejm-2018-0217

Canova et al. [Canova, F., J. D. López-Salido, and C. Michelacci. 2010. “The Effects of Technology Shocks on Hours and Output: A Robustness Analysis.” Journal of Applied Econometrics 25: 755–773; Canova, F., J. D. López-Salido, and C. Michelacci. 2012. “The Ins and Outs of Unemployment: An Analysis Conditional on Technology Shocks.” The Economic Journal 123: 515–539] estimate the dynamic response of labor market variables to technological shocks. They show that investment-specific shocks imply predominantly an adjustment along the intensive margin (i.e., hours per worker), whereas for neutral shocks the largest share of the adjustment takes place along the extensive margin (i.e., employment). In this paper we develop a New Keynesian model featuring capital accumulation, two margins of labor adjustment and a hiring cost. The model is used to analyze a novel economic mechanism to explain that evidence.

Reiter, Michael; Sveen, Tommy & Weinke, Lutz (2020)

Agency costs and the monetary transmission mechanism

The B.E. Journal of Macroeconomics, 20(1), s. 1- 11. Doi: 10.1515/bejm-2018-0010

Sveen, Tommy & Weinke, Lutz (2017)

Optimal Monetary Policy with Nominal Rigidities and Lumpy Investment

The International Journal of Central Banking, 13(4), s. 35- 62.

Sveen, Tommy (2014)

Capital accumulation,sectoral heterogeneity and the Taylor principle

Journal of Economic Dynamics and Control, 44, s. 20- 28. Doi: 10.1016/j.jedc.2014.04.007

Sveen, Tommy & Weinke, Lutz (2013)

The Taylor principle in a medium-scale macroeconomic model

Journal of Economic Dynamics and Control, 37(12), s. 3034- 3043. Doi: 10.1016/j.jedc.2013.09.003

Reiter, Michael; Sveen, Tommy & Weinke, Lutz (2013)

Lumpy investment and the monetary transmission mechanism

Journal of Monetary Economics, 60(7), s. 821- 834. Doi: 10.1016/j.jmoneco.2013.08.003

Bache, Ida Wolden; Sveen, Tommy & Torstensen, Kjersti Næss (2013)

Revisiting the importance of non-tradable goods' prices in cyclical real exchange rate fluctuations

European Economic Review, 57, s. 98- 107. Doi: 10.1016/j.euroecorev.2012.10.007

Haugland, Kjersti; Sveen, Tommy & Grytten, Ola Honningdal (2021)

Norges Bank Watch 2021: An independent Evaluation of Monetary Policy in Norway

[Report]. Centre for Monetary Economics.

Fjære, Jeanette S. & Sveen, Tommy (2018)

Norges Bank Watch 2018: An independent Evaluation of Monetary Policy in Norway

[Report]. Handelshøyskolen BI.

Bruce, Erik & Sveen, Tommy (2017)

Norges Bank Watch 2017 An Independent Evaluation of Monetary Policy in Norway

[Report]. BI Norwegian Business School.

Sveen, Tommy & Boye, Katrine Godding (2013)

Norges Bank Watch 2013 An Independent Evaluetaion of Montetary Policy in Norway

[Report]. BI Norwegian Business School.

Bergholt, Drago & Sveen, Tommy (2013)

Sectoral Interdependence and Business Cycle Synchronization in Small Open Economies

[Academic lecture]. Norges Bank seminar.

Bergholt, Drago & Sveen, Tommy (2013)

Sectoral Interdependence and Business Cycle Synchronization in Small Open Economies

[Academic lecture]. Bank of Canada research seminar.

Bergholt, Drago & Sveen, Tommy (2013)

Sectoral Interdependence and Business Cycle Synchronization in Small Open Economies

[Academic lecture]. Computing in Economcs and Finance 2013.

Academic Degrees
Year Academic Department Degree
2001 Norwegian School of Economics (NHH) Ph.D Dr. Oecon.
1995 Norwegian School of Economics (NHH) Master Cand. Oecon
1988 BI Norwegian Business School Master of Science in Business
Work Experience
Year Employer Job Title
2021 - Present Norwegian School of Economics (NHH) Adjunct professor
2019 - Present BI Norwegian Business School Head of Department of Economics
2015 - Present Centre for Monetary Economics Director
2011 - Present BI Norwegian Business School Professor of Economics
2020 - 2021 BI Norwegian Business School Head of Department of Data Science and Analytics
2011 - 2015 Norges Bank, Research Department Visiting scholar
2010 - 2011 Norges Bank, Research Department Assistant Director
2009 - 2010 Norges Bank, Research Department Senior Advisor
2008 - 2009 Norges Bank, Monetary Policy Department Senior Advisor
2007 - 2008 Norges Bank, Economics Department Assistant Director
2002 - 2007 Norges Bank, Research Department Researcher
2001 - 2002 Universitat Pompeu Fabra Post doctoral scholar

BI Business Review articles:

Load more articles