This is the final session devoted to Stafano Ugolini's book "The Evolution of Central Banking: Theory and History". We will be discussing Chapter 4: Monetary Policy and the conclusion. Book's description: This book is the first complete survey of the evolution of monetary institutions and practices in Western countries from the Middle Ages to today. …
This session covers Reading 8: The Dollar and World Liquidity: A Minority View, a 1966 article by Charles Kindleberger, Walter Despres, and Walter S. Salant, which originally appeared in The Economist. Perry Mehrling says: "This reading contrasts with Mundell, and much of the contemporary economic debate, by taking a banking view of international money and …
Just over a decade ago, the global economy was plunged into its worse crisis since the Great Depression. Today, the aftermath of the COVID-19 pandemic, Russia’s invasion of Ukraine and the already long-standing tension between the US and Chinese states have disrupted global value chains and fostered price increases throughout developed economies. Lingering in the …
The aim of this workshop is to bring together for the first time young and experienced researchers who are working on themes related to data-driven economic agent-based models (ABMs). ABMs are mathematical and computational models that explicitly represent the dynamics of units of a system, without imposing any ex-ante equilibrium constraint. ABMs have never existed …
This discussion will focus on the article The Crypto Banking System, which dives into the required foundations to build a financial system on top of decentralized finance (DeFi). The work illustrates through balance sheets how institutions would be interconnected, building on Zoltan Pozsar’s mapping of the Shadow Banking System (see here and here) We will …
WEBINAR REPLICATE REPLICATE: HOW YOU CAN TAKE PART SESSION 3: Replication in Quantitative Macroeconomics Macroeconomics differs from other fields in Economics in both the sources of data used and in the style of computation involved. In particular, data most often comes from reputable existing datasets, such as various IMF datasets, or those run by large …
This session covers Lecture 16: Foreign Exchange The lecture gives us a framework for reasoning about the foreign exchange dealer market in the context of a flexible-exchange-rate system. In typical money-view fashion, we look at foreign exchange market making through a lens of trading money for money, while pushing the trade of commodities and non-financial …
The Keynesian Economics Working Group is glad to announce a group meeting taking place at the Brazilian Keynesian Association conference (AKB). In this side event, professor Louis-Philippe Rochon (Laurentian University, Canada) will discuss with us what is the future of post-Keynesian economics. We will go through the history of post-Keynesian economics. Then, we will discuss …
YSI @ AKB 2022 | What is the future of post-Keynesian economics? Read More »
The Chamber of Labor Vienna, the Chamber of Labor Upper Austria, the Austrian Society for Pluralist Economics together with INET’s Young Scholars Initiative host the 11th Young Economists Conference on October 7th and 8th 2022, Vienna. YSI is preparing an exciting pre-conference program which will take place on October 6th, with workshops dedicated to scientific …
YSI Pre-conference Workshop @ 11th Young Economists Conference, Vienna Read More »
This is an event which will conclude our discussion of Stefano Ugolini's book "The Evolution of Central Banking". It will take a form of an one-hour Q&A session with professor Ugolini himself.
This session covers Lecture 17: Direct and Indirect Finance Until now, we haven't been talking as much about banks as intermediaries. The lecture will help us think about next week's Gurley and Shaw reading, which emphasizes indirect finance and intermediation. Mehrling tells a story about how the money market and capital market became intertwined, why …
Discussion — Lecture 17: Direct and Indirect Finance Read More »
WEBINAR REPLICATE REPLICATE: HOW YOU CAN TAKE PART SESSION 4: Advice and Information on Computational Reproductions: Students May Find Them Messier Than Expected Drawing on experience teaching and conducting replications this talk focuses on the most basic form of replication: the computational reproduction. This means simply trying to reproduce the numerical results of a previous …
S4: Advice and Information on Computational Reproductions Read More »