Mikael
Degrees
- Ph.D. in Economics (1998, Umeå University, Sweden).
- Docent in Economics (2003, Umeå University, Sweden).
- Docent in Financial Economics (2011, Åbo Akademi University, Finland).
Current Position and Employer
- 2010– : Senior Lecturer, Department of Economics, Uppsala University, Sweden.
Previous Employers
- 1993–2004: Department of Economics, Umeå University, Sweden.
- 2005–2006: RUESG, Department of Economics, University of Helsinki, Finland.
- 2005–2008: Monetary Policy and Research Department, Bank of Finland, Finland.
- 2008–2009: Department of Finance and Statistics, Hanken School of Economics, Finland.
- 2009–2010: School of Business and Economics, Åbo Akademi University, Finland.
- 2013–2016: School of Business, Örebro University, Sweden.
Extended Research Visits
- 2001/02: Department of Economics and IRP, University of Wisconsin – Madison, U.S.A.
- 2008/09: Department of Economics, Stanford University, U.S.A.
- 2013/14: IRiSS, Stanford University, U.S.A.
Editorial Assignments
- Member of the Editorial Board, PLOS ONE, 2014–2022.
- Member of the Editorial Board, Technical Analyst, 2004.
Papers Published in Peer-Reviewed Journals with Impact Factors (IFs) when Greater Than 3 (see Google Scholar for citing statistics)
- Dimensions and Lyapunov Exponents from Exchange Rate Series. Chaos, Solitons and Fractals, 7, 2199-2214, 1996. (IF: 7.8)
- Testing Chaotic Dynamics via Lyapunov Exponents. Physica D: Nonlinear Phenomena, 114, 1-2, 1998, with Ramazan Gençay. (IF: 4.0)
- A Positive Lyapunov Exponent in Swedish Exchange Rates? Chaos, Solitons and Fractals, 14, 1295-1304, 2002. (IF: 7.8)
- Characterizing the Degree of Stability of Non-Linear Dynamic Models. Studies in Nonlinear Dynamics and Econometrics, 6 (1) article 3, 2002, with Xavier de Luna.
- Should One Use Smokeless Tobacco in Smoking Cessation Programs? A Rational Addiction Approach. European Journal of Health Economics, 4, 263-270, 2003, with Maria Melkersson. (IF: 4.4)
- Rationally Addicted to Drinking and Smoking? Applied Economics, 36, 373-381, 2004, with Maria Melkersson.
- Technical Trading at the Currency Market Increases the Overshooting Effect. Finnish Economic Papers, 16, 72-80, 2003.
- Rational Addiction and Cigarette Smoking in the Presence of Bootleg Cigarettes. Applied Economics Quarterly, 49, 319-338, 2003, with Linda Andersson and Maria Melkersson.
- EMU and the Stability and Volatility of Foreign Exchange: Some Empirical Evidence. Chaos, Solitons and Fractals, 25, 737-750, 2005, with Xavier de Luna. (IF: 7.8)
- Economic Man and the Consumption of Addictive Goods: The Case of Two Goods. Substance Use and Misuse, 41, 453-466, 2006, with Linda Andersson and Maria Melkersson.
- Heterogeneous Beliefs in a Sticky-Price Foreign Exchange Model. Ekonomia, 9, 57-85, 2006, with Carina Selander.
- The Stability of Electricity Prices: Estimation and Inference of the Lyapunov Exponents. Physica A: Statistical Mechanics and its Applications, 376, 565-572, 2007, with Tung Liu and Anna Widerberg. (IF: 3.3)
- Chartism and Exchange Rate Volatility. International Journal of Finance and Economics, 12, 301-316, 2007.
- Adaptive Learning in an Expectational Difference Equation with Several Lags: Selecting among Learnable REE. European Financial Management, 14, 99-117, 2008.
- Instrument Rules in Monetary Policy under Heterogeneity in Currency Trade. Journal of Economics and Business, 61, 97-111, 2009. (IF: 3.8)
- Announcement Effects on Exchange Rates. International Journal of Finance and Economics, 14, 64-84, 2009.
- Fundamentals and Technical Trading: Behavior of Exchange Rates in the CEECs. Open Economies Review, 20, 589-605, 2009, with Jarko Fidrmuc.
- Market Power in the Expanding Nordic Power Market. Applied Economics, 43, 1035-1043, 2011, with Jens Lundgren and Niklas Rudholm.
- Market Structure and the Stability and Volatility of Electricity Prices. Energy Economics, 31, 278-288, 2009, with Anna Widerberg. (IF: 12.8)
- Robust Taylor Rules under Heterogeneity in Currency Trade. International Economics and Economic Policy, 6, 283-313, 2009, with Carina Selander.
- Measuring Potential Market Risk. Journal of Financial Stability, 6, 180-186, 2010. (IF: 5.4)
- Optimal Monetary Policy under Heterogeneity in Currency Trade. Journal of Financial Economic Policy, 1, 338-354, 2009.
- Asset Price Misalignments and Monetary Policy. International Journal of Finance and Economics, 17, 221-241, 2012.
- Actual and Potential Market Risks during the Stock Market Turmoil 2007-2008. Applied Financial Economics, 22, 339-349, 2012, with Anna Widerberg.
- A Case for Interest Rate Inertia in Monetary Policy. International Journal of Finance and Economics, 19, 140-159, 2014.
- Social Influence and the Matthew Mechanism: The Case of an Artificial Cultural Market. Physica A: Statistical Mechanics and its Applications, 412, 113-119, 2014, with Miia Bask. (IF: 3.3)
- Cumulative (Dis)advantage and the Matthew Effect in Life-Course Analysis. PLOS ONE, 10 (11) e0142447, 2015, with Miia Bask.
- Optimal Monetary Policy under Learning and Structural Uncertainty in a New Keynesian Model with a Cost Channel and Inflation Inertia. Journal of Economic Dynamics and Control, 69, 112-126, 2016, with Christian R. Proaño.
- Market Dynamics of Buyout Acquisitions in the Renewable Energy and Cleantech Sectors: An Event Study Approach. Renewable and Sustainable Energy Reviews, 64, 271-278, 2016, with Samuel Palmquist. (IF: 15.9)
- Pure Announcement and Time Effects in the Dividend-Discount Model. Quarterly Review of Economics and Finance, 77, 266-270, 2020. (IF: 3.4)
- Extrapolative Expectations and Macroeconomic Dynamics: Evidence from an Estimated DSGE Model. International Journal of Finance and Economics, 26, 1101-1111, 2021, with João Madeira.
- Latent Class Analysis of IPOs in the Nordics. PLOS ONE, 16 (11) e0259510, 2021, with Anton Läck Nätter.
- Monetary Policy Uncertainty, Monetary Policy Surprises and Stock Returns. Journal of Economics and Business, 124, 106106, 2023, with Ghezal Sekandary. (IF: 3.8)
- Media Sentiment and Stock Returns. Quarterly Review of Economics and Finance, 94, 303-311, 2024, with Lars Forsberg and Andreas Östling. (IF: 3.4)
- Skill, Status and the Matthew Effect: A Theoretical Framework. Accepted for publication in Journal of Computational Social Science. (IF: 3.2)
Other Publications
- Några skeptiska reflektioner kring ett svenskt medlemskap i EMU. In Röster om EMU – från de samtal om EMU som ägde rum i Norra Norrland under hösten 1999 by Michel Wlodarczyk, editor, Folkuniversitetet – kursverksamheten vid Umeå universitet, 43-48, 2000.
- Är svenska kronan en skvalpvaluta? Ekonomisk Debatt, 30, 693-706, 2002, with Xavier de Luna.
- Incorporating Chartist Expectations into FX Modeling. Technical Analyst, April 2004, 35.
- En granskning av Goodharts och Rochets utvärdering av Riksbankens politik. Ekonomiska Samfundets Tidskrift (Journal of the Economic Society of Finland), 65, 63-71, 2012, with Bengt Assarsson.
- Jansson och Skingsley lägger ut nya dimridåer från Riksbanken. Dagens Nyheter, March 17 (online edition) and March 18 (newspaper edition), 2014, with Bengt Assarsson.
- Vad är fel med penningpolitiken i Sverige? In Makropolitik i kris. En vänskrift till Lars Jonung med anledning av hans 70-årsdag. Knut Wicksell Policy Paper 2016:1, Lund University, 57-73, 2016, with Bengt Assarsson.
- Stora skillnader mellan ekonomierna i Norden. Svenska Dagbladet, June 8 (online edition), 2017.
Academic Assignments
- Faculty Opponent, Yuna Liu’s Ph.D. Thesis defense (2016, Umeå University, Sweden).
- Opponent, Christer Berglund’s Ph.Lic. Thesis defense (2000, Luleå University of Technology, Sweden).
- Opponent, Mats Landström’s Ph.Lic. Thesis defense (2009, Umeå University, Sweden).
- Examining Committee, Dag Fjeld Edvardsen’s Ph.D. Thesis defense (2004, University of Gothenburg, Sweden).
- Examining Committee, Johan Söderberg’s Ph.D. Thesis defense (2010, Uppsala University, Sweden).
- Examining Committee, Ulf Holmberg’s Ph.D. Thesis defense (2012, Umeå University, Sweden).
- Examining Committee, Vesna Corbo’s Ph.D. Thesis defense (2013, Uppsala University, Sweden).
Previous Ph.D. Students
- Carina Selander (main supervisor, 2006, Umeå University, Sweden).
- Rachatar Nilavongse (main supervisor, 2016, Uppsala University, Sweden).
- Jon Frank (main supervisor, 2017, Uppsala University, Sweden).
- Dmytro Stoyko (main supervisor, 2020, Uppsala University, Sweden).
- Hiep Nguyen (main supervisor, 2024, Uppsala University, Sweden).
- Markus Ridder (main supervisor, 2024, Uppsala University, Sweden).
- Erik Spector (assistant supervisor, 2015, Uppsala University, Sweden).
- Irina Andone (assistant supervisor, 2018, Uppsala University, Sweden).
- Carmina Fjellström (Applied Mathematics and Statistics, assistant supervisor, 2023, Uppsala University, Sweden).
Current Ph.D. Students
- Fredrik Armerin (main supervisor, Uppsala University, Sweden).
- Maria Elena Filippin (assistant supervisor, Uppsala University, Sweden).
- Kristina Karlsson (assistant supervisor, Uppsala University, Sweden).
Research Grants
- Jan Wallander and Tom Hedelius Foundation and Tore Browaldh Foundation (3 grants).
- Siamon Foundation.
- Swedish Foundation for International Cooperation in Research and Higher Education.
- Länsförsäkringar Västerbotten and Föreningssparbanken Foundation for Economic and Social Research.
- OP Bank Group Foundation (3 grants).
- Berch and Borgström Foundations (3 grants).
- Wenner-Gren Foundations.
- Nasdaq Nordic Foundation.
- Centre for Integrated Research on Culture and Society (2 grants; PIs: Miia Bask respective myself).
Supervision of Bachelor and Master Theses
1996–2004: 22 Bachelor and Master Theses in Economics, Umeå University, Sweden.
2010: 1 Master Thesis in Economics, Åbo Akademi University, Turku, Finland.
2011– : 30 Bachelor Theses in Economics, Uppsala University, Sweden.
2011– : 25 Master Theses in Economics, Uppsala University, Sweden.
2020– : 1 Master Thesis in Mathematics, Uppsala University, Sweden.
Teaching Experiences
- Undergraduate Teaching in Economics, Luleå University of Technology, Sweden
Introductory Economics (several courses): 1992–1993
Introductory and Intermediate Macroeconomics (several courses): 1992–1993
Introductory Microeconomics (several courses): 1992–1993
Advanced Macroeconomics: Fall 2002, Spring 2003, Fall 2004
- Undergraduate Teaching in Economics, Umeå University, Sweden
Introductory Economics: Spring 1999, Spring 2000
Introductory Macroeconomics: Spring 1996, Fall 2002
Introductory Microeconomics: Fall 1993, Spring 1994
Intermediate Macroeconomics: Fall 1998, Spring 1999, Fall 1999, Spring 2000
Advanced Macroeconomics: Fall 1994, Fall 1995, Fall 1996, Fall 1997, Fall 1998, Fall 1999
- Graduate Teaching in Economics (Ph.D. courses), Umeå University, Sweden
Mathematical Economics I: Fall 1998, Fall 1998–Spring 1999
Macroeconomics II: Fall 2004
Microeconomics I: Fall 2002, Fall 2003
International Macroeconomics and Finance: Fall 2003–Spring 2004
- Extra-Mural Teaching in Economics, Umeå University, Sweden
Introductory Economics: Fall 1999, Fall 1999–Spring 2000
- Undergraduate Teaching in Economics, Hanken School of Economics, Helsinki, Finland
Advanced International Macroeconomics and Finance: Spring 2006
- Undergraduate Teaching in Economics, Åbo Akademi University, Finland
Introductory Financial Economics: Spring 2010
Intermediate Macroeconomics: Spring 2011
Advanced Microeconomics: Fall 2009
- Undergraduate Teaching in Economics, Uppsala University, Sweden
Intermediate Financial Economics: Spring 2011, Fall 2011, Spring 2012, Fall 2012, Spring 2013, Fall 2014, Spring 2015, Fall 2015, Spring 2016, Fall 2016, Spring 2017, Fall 2017, Spring 2018, Fall 2018, Spring 2019, Fall 2019, Spring 2020, Fall 2020, Spring 2021, Fall 2021, Spring 2022, Fall 2022, Spring 2023, Fall 2023, Spring 2024
Advanced Financial Economics (Master-level course): Fall 2010, Fall 2011, Fall 2012, Fall 2014, Fall 2015
Intermediate Macroeconomics: Spring 2015
- Graduate Teaching in Economics (Ph.D. courses), Uppsala University, Sweden
Mathematical Methods I: Fall 2018, Fall 2019, Fall 2020, Fall 2021, Fall 2022, Fall 2023
- Undergraduate Teaching in Computational Social Science, Uppsala University, Sweden
Introduction to Computational Social Science (Guest lecture on agent-based modeling): Spring 2022, Spring 2023, Spring 2024
- Undergraduate Teaching in Sociology, University of Bergen, Norway
Advanced Sociology (Guest lecture on analytical sociology): Spring 2015
Selected Administrative Experiences
- Board Member, School of Business and Economics, Åbo Akademi University, Finland.
- Subject Representative in Economics, School of Business and Economics, Åbo Akademi University, Finland.
- Supervisory Board Member, Finnish Doctoral Programme in Economics.
- Board Member, Kommuninvest Research Fund.
- Director of Graduate Studies, Department of Economics, Uppsala University, Sweden.
- Board Member, Faculty of Social Sciences, Uppsala University, Sweden.
Experiences to Communicate with the Surrounding Society
- Appeared on Swedish TV.
- Appeared on British, Finnish and Swedish radio.
- Interviewed in British/International, Finnish and Swedish magazines and newspapers.
- Interviewed for an American/International news website.
- Contributions to the debate in Finnish and Swedish newspapers.