Steffen Murau – Dr. Steffen Murau
Dr. Steffen Murau| steffenmurau.com

Author: Steffen Murau

2019 | ‘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 […]

Learn More

2020 | ‘Welche Zukunft für finanzielle Globalisierung? Vier Szenarien für das internationale Währungssystem im Jahr 2040’ (mit Joe Rini und Armin Haas)

Nichts hat so sehr zur heutigen finanziellen Globalisierung beigetragen wie die Transformation des internationalen Währungssystems. In seiner gegenwärtigen Form hat es eine hierarchische Struktur mit dem US-Dollar an der Spitze. Andere Währungsräume bilden dazu eine […]

Learn More

“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 […]

Learn More

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 […]

Learn More

2019 | ‘States, Markets – and Technocrats. Revisiting the Origins of Financial Globalization’ (with Benjamin Braun and Arie Krampf)

International political economy (IPE) has explained financial globalization as the result not merely of market pressure but of states deciding to open up and liberalize their financial systems. Challenging this ‘negative integration’ view as incomplete, […]

Learn More

2019 | ‘Quantitative Easing, Central Bank Independence and the Seeming Fundamental Difference between Monetary and Fiscal Policy’ (with Tobias Pforr)

Quantitative Easing (QE) has become the main new central banking activity after the 2007-9 Financial Crisis. Conventionally referred to as an ‘unconventional monetary policy’, the Federal Reserve has recently called it the ‘new normal’ of […]

Learn More

2019 | ‘Rethinking Monetary Sovereignty. The Global Credit Money System and the State’ (with Jens van ‘t Klooster)

This article proposes a conception of monetary sovereignty that recognizes the reality of today’s global credit money system. Monetary sovereignty is typically used in a ‘Westphalian’ sense that simply denotes the ability of states to […]

Learn More

2019 | ‘Private Debt as Shadow Money? Conceptual Criteria and Empirical Evaluation’ (with Tobias Pforr)

Following the 2007-9 Financial Crisis, some scholars have come to perceive the financial structures that faced a run at the time as ‘shadow banking system’ and connect it to the emergence of new monetary instruments. […]

Learn More

2018 | ‘The Future of Offshore Dollar Creation. Four Scenarios for the International Monetary System by 2040’ (with Joe Rini and Armin Haas)

In order to sketch the possibility space for the future setup of the International Monetary System (IMS), this paper develops four different scenarios that outline potential outcomes of the IMS’s evolution by 2040. These scenarios […]

Learn More

2018 | ‘Offshore Dollar Creation and the Emergence of the Post-2008 International Monetary System’

This paper studies the transformation of the International Monetary System (IMS) in the run up to and after the 2007-9 Financial Crisis. Adopting a Money View perspective, it argues that the IMS, in contrast to […]

Learn More