Researcher Profiles Meredith Beechey Osterholm

Meredith Beechey Osterholm

Economic Research Department and RBA Review Response Program

Current research interests: monetary policy, policy communication, financial markets, natural language processing

Contact: osterholmm@rba.gov.au

Meredith leads the Monetary Policy response to the RBA Review and is Deputy Head of Economic Research. She has held influential positions in monetary policy and financial markets at the Riksbank and the Federal Reserve and joined the RBA in 2023. Meredith has a PhD from U.C. Berkeley and her research on macro-finance, monetary policy and policy communication features in top academic journals. She guest lectures at the Stockholm School of Economics.

Academic publications

  • Beechey M, P Österholm and A Poon (2023) ‘Estimating the US Trend Short-term Interest Rate’ Finance Research Letters, 55, Article 103913.
  • Beechey M (2022) ‘The Riksbank's Bond Purchases: Who Sold Bonds to the Riksbank?’ Sveriges Riksbank Economic Review, 2, pp 79–104.
  • Beechey M and P Österholm (2014) ‘Central Bank Forecasts of Policy Interest Rates: An Evaluation of the First Years’ Economic Notes, 43(1), pp 63–78.
  • Beechey M and P Österholm (2014) ‘Policy Interest-rate Expectations in Sweden: A Forecast Evaluation’ Applied Economics Letters, 21(14), pp 984–991.
  • Beechey M and P Österholm (2012) ‘The Rise and Fall of US Inflation Persistence’ International Journal of Central Banking, 8(3), pp 55-86.
  • Beechey M, B Johannsen and A Levin (2011) ‘Are Long-run Inflation Expectations Anchored More Firmly in the Euro Area than in the United States?’ American Economic Journal: Macroeconomics, 3(2), pp 104–129.
  • Beechey M and P Österholm (2010) ‘Forecasting Inflation in an Inflation-targeting Regime: A Role for Informative Steady-state Priors’ International Journal of Forecasting, 26(2), pp 248–264.
  • Beechey M, E Hjalmarsson and P Österholm (2009) ‘Testing the Expectations Hypothesis when Interest Rates are Near Integrated’ Journal of Banking and Finance, 33(5), pp 934–943.
  • Beechey M and J Wright (2009) ‘The High-frequency Impact of News on Long-term Yields and Forward Rates: Is it Real?’ Journal of Monetary Economics, 56(4), pp 535–544.
  • Beechey M and P Österholm (2009) ‘Time-varying Inflation Persistence in the Euro Area’ Economic Modelling, 26(2), pp 532–535.
  • Beechey M and P Österholm (2008) ‘Revisiting the Uncertain Unit Root in GDP and CPI: Testing for Non-linear Trend Reversion’ Economics Letters, 100(2), pp 221–223.
  • Beechey M and P Österholm (2008) ‘A Bayesian Vector Autoregressive Model with Informative Steady-state Priors for the Australian Economy’ Economic Record, 84(267), pp 449–465.

Other Research Papers

  • Beechey M and P Gustafsson (2023) ‘Estimating the Effect of Riksbank Government Bond Purchases on Bond Term Premia and Yields’ Sveriges Riksbank Staff Memo Dec 2023.
  • Beechey M and P Österholm (2018) ‘Point versus Band Targets for Inflation’ Working paper, Örebro University.
  • Beechey M (2008) ‘Lowering the Anchor: How the Bank of England's Inflation-targeting Policies have Shaped Inflation Expectations and Perceptions of Inflation Risk’ Finance and Economics Discussion Series 2008-44, Board of Governors of the Federal Reserve System.
  • Beechey M (2007) ‘A Closer Look at the Sensitivity Puzzle: The Sensitivity of Expected Future Short Rates and Term Premia to Macroeconomic News’ Finance and Economics Discussion Series 2007-06, Board of Governors of the Federal Reserve System.
  • Beechey M and J Wright (2007) ‘Rounding and the Impact of News: A Simple Test of Market Rationality’ Finance and Economics Discussion Series 2007-05, Board of Governors of the Federal Reserve System.
  • Beechey M (2004) ‘Excess Sensitivity and Volatility of Long Interest Rates: The Role of Limited Information in Bond Markets’ Sveriges Riksbank Working Paper 173.
  • Beechey M, N Bharucha, A Cagliarini, D Gruen and C Thompson (2000) ‘A Small Model of the Australian Macroeconomy’ RBA Research Discussion Paper No 2000-05.
  • Beechey M, D Gruen and J Vickery (2000) ‘The Efficient Market Hypothesis: A Survey’ RBA Research Discussion Paper No 2000-01.

Policy Publications

  • Beechey M, B Andersson and P Gustafsson (2022) ‘The Riksbank's Asset Purchases 2015−2022’ Sveriges Riksbank Study No 2-2022.
  • Beechey M and H Elmer (2009) ‘The Lower Limit of the Riksbank's Repo Rate’ Sveriges Riksbank Economic Commentaries No 11-2009.