We analyze the impact of financial crises and monetary policy on the supply of wholesale funding liquidity, and also on the compositional supply effects through cross-border and relationship lending. For empirical identification, we draw on the proprietary bank-to-bank European interbank dataset...

Whether a theoretical system is realistic or not has been a concern in economics, particularly in monetary theory, over the past century. Following John R. Hicks' proposal that a realistic monetary theory could be constructed along an evolutionary path, starting with the workings of a real...

As the recent financial crisis has revealed, the state is central to the stability of the money system, while the chaotic privately-owned banks reap the benefits without shouldering the risks. This book argues that money is a public resource that has been hijacked by capitalism. Mary Mellor...

Im Falle der Transformationsländer Mittel- und Osteuropas formierte sich 1989/90 parallel zu den wirtschaftspolitischen Empfehlungen der Neoklassik ein alternativer monetärkeynesianischer Ansatz in Form der Berliner Schule. Die Politikempfehlung der Berliner Schule lautete Währungsreform und...

In the fall of 2008, the United States was plunged into a financial crisis more severe than any since the Great Depression. As banks collapsed and the state scrambled to organize one of the largest transfers of wealth in history, manyincluding economists and financial expertswere shocked by the...