We study the macroeconomic consequences of issuing central bank digital currency (CBDC)-
a universally-accessible and interest-bearing central bank liability that competes with bank …

Using a stock-flow-fund ecological macroeconomic model, we analyse (i) the effects of
climate change on financial stability and (ii) the financial and global warming implications of …

We study the macroeconomic consequences of issuing central bank digital currency (CBDC)—
a universally accessible and interest-bearing central bank liability, implemented via …

This paper discusses central bank digital currency (CBDC) and its potential impact on the
monetary transmission mechanism. We first offer a general definition of CBDC which should …

How do banks operate and where does the money supply come from? The financial crisis
has heightened awareness that these questions have been unduly neglected by many …

The paper moves from a discussion of the challenges posed by the crisis to standard
macroeconomics and the solutions adopted within the DSGE community. Although several …

This chapter surveys recent literature on macro-finance and its attempts to revise traditional
conceptions of banking in light of the Great Financial Crisis of 2007–2008. We highlight its …

The Great Financial Crash had cataclysmic effects on the global economy, and took
conventional economists completely by surprise. Many leading commentators declared …

This paper questions the appropriateness of popular analytical frameworks that focus on
current accounts or net capital flows as a basis for assessing the pattern of cross-border …

Financial upheaval and unconventional monetary policies have made money a salient
political issue. This provides a rare opportunity to study the under-appreciated role of …