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, […]
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 […]
2016 | ‘European Monetary Integration and the Public-Private Money Divide. Can Post-Crisis Reforms Harmonize Private Money Creation in the Eurozone?’
Based on the conceptual framework of the ‘Money View’, this paper argues that European monetary integration until the Eurocrisis only focused on harmonizing public money on a supranational level while neglecting private credit money creation. […]