Dr. Steffen Murau| steffenmurau.com

Author: Steffen Murau

‘The Transformation of Eurozone Fiscal Governance. Mitigating Fiscal Discipline through a Proliferation of Off-Balance-Sheet Fiscal Agencies’ (with Andrei Guter-Sandu)

The Eurocrisis dispelled the “neoliberal” Eurozone governance approach that the “efficient” crowd intelligence of private financial institutions would “discipline” the balance sheets of national sovereigns. Instead, during the Eurocrisis, the private balance sheets of Eurozone […]

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2020 | ‘The Hierarchy of the Offshore US-Dollar System. On Swap Lines, Foreign Repo Facilities and Special Drawing Rights’ (with Fabian Pape and Tobias Pforr)

The international monetary system is a US-centered global payments system, organized around the US-Dollar (USD) as ‘key currency’. One of the system’s essential features is that private institutions autonomously create USD-denominated private credit money offshore. […]

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2020 | ‘A Macro-Financial Model of the Eurozone Architecture Embedded in the Global Offshore US-Dollar System’, GEGI Study

It is a convention to say that the Eurozone architecture is ill-constructed and deficient. However, monetary architecture is not a well-defined term in monetary theory, and there is no consensus what the Eurozone architecture is beyond being […]

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2020 | ‘What is Money in a Critical Macro-Finance Framework?’ (with Tobias Pforr), Finance and Society

This article explains how analyzing the creation, distribution, and destruction of contemporary credit money is placed center-stage in the emerging field of critical macro-finance. This approach involves not only traditional forms of money but also […]

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Kick-off for two-year research project at Boston University

1 Oct 2019 | Steffen Murau joins Global Development Policy Center of Boston University as postdoctoral fellow in the Global Economic Governance Initiative (GEGI). The Global Development Policy (GDP) Center of Boston University will be […]

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Accommodation theory features in report of Dutch scientific council

17 Jan 2019 | Dutch Scientific Council for Government Policy publishes report on private credit money creation and the role of the state. The Dutch Scientific Council for Government Policy (Wetenschappelijke Raad vor het Regeringsbeleid) […]

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Shadow money researcher wins award for journal article based on PhD study

9 Oct 2018 | Dr Steffen Murau has been presented with the EAEPE journal article of the year award. A researcher who completed his PhD at City has won a prestigious award for an article […]

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“Shadow money should be tamed, not banned”

15 Oct 2018 | Kapp Prize recipient Steffen Murau on what we can learn from the Financial Crisis. An interview by Dr. Bianca Schröder Congratulations on being awarded the Kapp Prize of the European Association […]

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