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 […]
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, […]
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 […]
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 […]
2017 | ‘Shadow Money and the Public Money Supply. The Impact of the 2007-2009 Financial Crisis on the Monetary System’, Review of International Political Economy
This article explores the effects of the political reactions to the 2007–2009 financial crisis on the monetary system. It chimes in with the view that shadow banks create ‘shadow money’, i.e. private substitutes for bank […]