Dr. Steffen Murau| steffenmurau.com

Publications

Peer-reviewed journal articles

2020 | ‘The Evolution of the Offshore US-Dollar System. Past, Present and Four Possible Futures’ (with Joe Rini and Armin Haas), Journal of Institutional Economics 16 (6), pp. 767-783,
doi: 10.1017/S1744137420000168.

2020 | ‘Financial globalization as positive integration. Monetary Technocrats and the Eurodollar market in the 1970s’ (with Benjamin Braun and Arie Krampf), Review of International Political Economy, pp. 1-26, doi: 10.1080/09692290.2020.1740291 (online first).

2020 | ‘What is Money in a Critical Macro-Finance Framework?’ (with Tobias Pforr), Finance and Society 6 (1), pp. 56-66, doi: 10.2218/finsoc.v6i1.4409.

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 24 (5), pp. 802-838, doi: 10.1080/09692290.2017.1325765.

2016 | ‘EU, US and ASEAN Actorness in G20 Financial Policy‐Making: Bridging the EU Studies–New Regionalism Divide’ (with Kilian Spandler), Journal of Common Market Studies 54 (4), pp. 928-943, doi: 10.1111/jcms.12340.

2011 | ‘Marx’ Fetisch und Kants Hypostasierung. Kritik und die Notwendigkeit des Scheins im „Kapital“‘, Widerspruch. Münchner Zeitschrift für Philosophie 53, pp. 128-138.

GEGI Studies

2021 | ‘The Hierarchy of the Offshore US-Dollar System. On Swap Lines, the FIMA Repo Facility and Special Drawing Rights’ (with Fabian Pape and Tobias Pforr), Boston University, Global Development Policy Center, Global Economic Governance Initiative, GEGI Study February 2021, Boston, MA.

2020 | ‘A Macro-Financial Model of the Eurozone Architecture Embedded in the Global Offshore US-Dollar System’, Boston University, Global Development Policy Center, Global Economic Governance Initiative, GEGI Study July 2020, Boston, MA, doi: 10.2312/iass.2020.041.

Book chapters

2020 | ‘Welche Zukunft für die finanzielle Globalisierung? Vier Szenarien für das internationale Währungssystem im Jahr 2040’ (mit Joe Rini und Armin Haas), in: Deutsche Keynes Gesellschaft (Hrsg.) Tagungsband zu Tagung in Berlin im Januar 2019, Band 13, Metropolis Verlag: Marburg.

2016 | ‘IMF Reform Negotiations in the G20. Comparing Actorness and Power in the Foreign Financial Policies of the EU, the US and ASEAN’ (with Kilian Spandler), in: Peters, Ingo (ed.) The European Union’s Foreign Policy in Comparative Perspective. What kind of power and what kind of actor?, Routledge, pp. 41-60.

Dissertation

2017 | ‘The Political Economy of Private Credit Money Accommodation. A Study of Bank Notes, Bank Deposits and Shadow Money’, City, University of London, PhD thesis, October 2017.

Working papers

2020 | ‘Rethinking Monetary Sovereignty. The Global Credit Money System and the State’ (with Jens van ‘t Klooster), SocArxiv, November 2020, doi:10.31235/osf.io/k9qm8

2020 | ‘The Transformation of Eurozone Fiscal Governance. Mitigating Fiscal Discipline through a Proliferation of Off-Balance-Sheet Fiscal Agencies’ (with Andrei Guter-Sandu), Euromemo Group Conference Paper, September 2020.

2020 | ‘Private Debt as Shadow Money? Conceptual Criteria, Empirical Evaluation and Implications for Financial Stability’ (with Tobias Pforr), Private Debt Project: Philadelphia, PA, May 2020.

2018 | ‘Offshore Dollar Creation and the Emergence of the post-2008 International Monetary System’, Institute for Advanced Sustainability Studies, Potsdam, and Weatherhead Center for International Affairs, Harvard University, Discussion Paper, June 2018.

2018 | ‘The Future of Offshore Dollar Creation: Four Scenarios for the International Monetary System by 2040’ (with Joe Rini and Armin Haas), Institute for Advanced Sustainability Studies, Potsdam, and Weatherhead Center for International Affairs, Harvard University, Discussion Paper, June 2018.

2016 | ‘European Monetary Integration and the Public-Private Money Divide: Can Post-Crisis Reforms Harmonize Private Money Creation in the Eurozone?’, City, University of London, Conference Paper, April 2016.

2013 | ‘Deutschland und die Krise der Europäischen Währungsunion. Eine Phänomenologie der Kausalzuschreibungen im deutschen Diskurs über die Eurokrise der Jahre 2010 und 2011‘, Nachwuchstagung Internationale Politische Ökonomie, Heidelberg, March 2013.

Blog posts and newspaper articles

2020 | ‘Putting Off-Balance-Sheet Fiscal Agencies under the Control of the European Parliament Could Help Democratise Eurozone Governance’ (with Andrei Guter-Sandu), EUROPP: European Politics and Policy, Blog, London School of Economics (LSE), 24 November 2020.

2020 | ‘Financing the Green Transition through Off-Balance-Sheet Fiscal Agencies’ (with Andrei Guter-Sandu), Institute for Advanced Sustainability Studies Blog, 27 October 2020.

2020 | ‘Die Demokratisierung der Eurozone’ (with Andrei Guter-Sandu), Wirtschaftswoche online,
14 October 2020.

2020 | ‘How to Internationalize a Currency’, Interview with Dezernat Zukunft, 5 June 2020,

2020 | ‘Privatized global money. The US-Dollar and the International Monetary System’, Interview with Dezernat Zukunft, 29 May 2020.

2018 | ‘Shadow money should be tamed, not banned‘, Interview for the Institute for Advanced Sustainability Studies Blog, 15 October 2018.

2018 | ‘Reassessing US monetary bullying power’, Diplomatic Magazine and Think Tank @IFAIR.eu, September 2018.

2014 | ‘The Spectre of a Failed State. What Will Come after the End of the Sykes-Picot Order in the Middle East?’, Diplomatic Magazine and Think Tank @IFAIR.eu

2013 | ‘Religion and Economy. Egypt’s Unresolved Core Conflicts’, Diplomatic Magazine and Think Tank @IFAIR.eu

2013 | ‘Freihandeln oder sterben’, The European. Das Debattenmagazin and Think Tank @IFAIR.eu

2013 | ‘Global Sheriff und Emittent einer internationalen Reservewährung: Für eine Reform des IWF’, Think Tank @IFAIR.eu

2012 | ‘Iran in a Global Context’, Think Tank @IFAIR.eu

Policy-oriented work

The listed publications are the policy papers written as the collaborative outcome of the IFAIR Impact Group ‘EU-ASEAN Perspectives’, which I have co-founded and co-managed, and the IFAIR Impact Group ‘LACalytics’, which has been operating in my area of responsibility as member of the IFAIR executive board.

2018 | Laible, Anne, Anna Schwertz-Weirich, Marie-Claire Pfeiffer, Bianca Becca, and Sigfried Eisenmeier (eds.) ‘Strengthening EU-LAC Cooperation. Sharing Experiences for Present and Future Developments‘, Young Initiative on Foreign Affairs and International Relations (IFAIR)
e.V., Impact Group ‘LACalytics’, Policy Paper Series, vol.2.

2016 | Lieb, Theresa, Leo Fried, Johannes Klein, Joanna Klever and Fabian Scheifele (eds.) ‘EU-LAC Cooperation in the 21st Century. Combining Efforts in a Globalized World’, Young Initiative on Foreign Affairs and International Relations (IFAIR) e.V., Impact Group ‘LACalytics’, Policy Paper Series, vol.1.

2016 | De Santis, Chiara, Hannah Elten and Kent Tangcalagan (eds.) ‘Gender Equality: An EU-ASEAN Interregional Perspective on Policy Making’, Young Initiative on Foreign Affairs and International Relations (IFAIR) e.V., Impact Group ‘EU-ASEAN Perspectives’, Policy Paper Series, Vol. 3.

2015 | Brunetto, Daniele, Kilian Spandler and Nelly Stratieva (eds.) ‘Making Interregionalism Actionable. Improving EU-ASEAN Cooperation in Development, Finance, Trade and Climate Change’, Young Initiative on Foreign Affairs and International Relations (IFAIR) e.V., Impact Group ‘EU-ASEAN Perspectives’, Policy Paper Series, Vol. 2.

2014 | Meissner, Katharina, Imke Pente, Nelly Stratieva, and Boonwara Sumano (eds.), ‘Unlocking the Potential of Interregionalism. Mutual Perceptions and Interests in EU-ASEAN Relations’, Young Initiative of Foreign Affairs and International Relations (IFAIR) e.V., Impact Group ‘EU-ASEAN Perspectives’ Policy Paper Series, Vol. 1.