Sveriges Riksbank Economic Review 2003:2

The Riksbank's quarterly journal Economic Review contains articles on central bank-related subjects. The Swedish version of this year's second issue is published today and contains five articles. An English version will be available in two weeks' time.

The use of market indicators in financial stability analyses

The Riksbank is to a growing extent using indicators based on prices from financial markets in its financial stability analysis. For the Riksbank's ongoing analysis of financial stability, the market-based indicators are an important addition and provide a reference point and a complement to the conventional analysis of the main categories of borrower in the bank sector. In their article, Mattias Persson and Martin Blåvarg, Financial Stability Department, present some new indicators based on equity and bond markets that the Riksbank employs in its assessment.

Card payments in Sweden

Consumers in the Nordic countries are frequent users of bank cards, much more so than their average European counterpart. Cash, however, is not used to any great extent. Sweden is lagging behind in this development, however; we perform fewer card transactions and use more cash than our Nordic neighbours. This is the conclusion of Deputy Governor Lars Nyberg and of Gabriela Guibourg, who works in the Financial Stability Department, in their article on card payments in Sweden.

Errors and omissions in the balance of payments statistics - a problem?

The errors and omissions item has increased significantly for some years now, and an international comparison shows that in Sweden this item is considerable. Gunnar Blomberg, Lars Forss and Ingvar Karlsson, all of the Monetary Policy Department, describe in their article the factors contributing to the errors and omissions item and how this item affects interpretation of the balance of payments and other economic statistics.

Special Drawing Rights - a lubricant

The International Monetary Fund's Special Drawing Rights, SDR, have risen to the fore of the globalisation debate as a solution to poor countries' economic problems. In her article, Anna-Karin Nedersjö, of the International Department, describes the origin of the SDR and their function, as well as commenting on the problems in the SDR debate.

Comments on "Future financial oversight" (SOU 2003:33)

Finally, there is a presentation of the Riksbank's views on the final report on Future financial oversight. This is written by Göran Lind and Tomas Flodén of the Financial Stability Department. The submission has the support of all of the Executive Board members.

The journal is available as a PDF-file on the Riksbank's website under the heading Publications/Economic Review. It can also be collected from the main entrance to the Riksbank at Brunkebergstorg 11 or ordered by e-mail, forradet@riksbank.se, fax +46-8-7870526 or telephone +46-8-7870100.

Contact: Kerstin Wallmark, tel. +46-8-787 01 50