Dr. Steffen Murau| steffenmurau.com

‘Towards a Macro-financial Model of the Eurozone Architecture’

While it has become a widespread understanding that the architecture of the Eurozone is ill-constructed and deficient, it is not always clear what exactly is meant by this term. To develop an answer to the simple descriptive question of “What is the Eurozone architecture”, the paper presents a macro-financial model of the Eurozone architecture. Macro-finance seeks to represent the international financial system as a series of interlocking balance sheets that take into account key features of the monetary system known from the Money View framework such as endogenous money creation, hierarchy and hybridity. The goal of the paper is to apply those ideas on the Eurozone context and present the Eurozone architecture as set of interlocking balance sheets.

Presentations at Critical Macro Finance Workshop, London (09/2019) and  EAEPE conference, Warsaw (09/2019)

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