piwik-script

Deutsch Intern
Senior Professorship for Economics, Money and International Economic Relations

The Role of the Financial System in Economic Models

Paper by Prof. Bofinger, Lisa Geißendörfer, Thomas Haas and Fabian Mayer about the differences between real and monetary analysis (2023): 
Schumpeter's insights for monetary macroeconomics and the theory of financial crises


Article at VoxEU by Prof. Bofinger, Lisa Geißendörfer, Thomas Haas and Fabian Mayer on mechanisms of monetary policy of March 20, 2023:
How monetary policy affects bank lending and financial stability: A ‘credit creation theory of banking’ explanation


Guest article by Prof. Bofinger in Social Europe of February 13, 2023 about new fiscal policy in Europe:
The role of public debt in the 'new normal'


In a new article in "Social Europe" Prof. Bofinger criticized this year's noble price winning work of December 2022:
A noble award for a ‘popular misconception’


Paper by Lisa Geißendörfer and Thomas Haas about the role of credit in chinese industrial policy (2022):
Schumpeter in practice: The Role of Credit for Industrial Policy in China


In a new article in INET Prof. Bofinger and Thomas Haas discuss the weaknesses of the model of this year's nobel prize of October 18, 2022:
A Nobel Award for the Wrong Model


Paper by Prof. Bofinger on the role of debt financed fiscal policy (2022):
Public Debt in the "New Normal": A Schumpeterian perspective on fiscal policy


Paper by Prof. Bofinger, Lisa Geißendörfer, Thomas Haas and Fabian Mayer on the true Schumpeter (2021):
Discovering the True Schumpeter - New Insights into the Finance and Growth Nexus

Click here to get to the corresponding article at VoxEU of February 3, 2022:
Discovering the 'true' Schumpeter: New insights of the finance and growth nexus


Guest article by Prof. Bofinger in Wirtschaftsdienst of August 2020 on the role of savings and investment (in German):
Sparen und Investieren im Spannungsfeld widerstreitender Paradigmen


Guest article by Prof. Bofinger in Social Europe of February 17, 2020 in which he criticizes the standard modeling of the financial system in classical models:
'Fridays for Keynesianism'


In the journal "Review of Keynesian Economics" (Vol. 8, No. 1, Spring 2020, pp. 61-83), Prof. Bofinger published an article that details the differences between real and monetary modeling of the financial system in January 2020:
Reviving Keynesianism: the modelling of the financial system makes the difference


Prof. Bofinger criticizes the modelling of the financial system in N.G. Mankiw's "Macroeconomics of January 3, 2020:
"Modeling the Financial System with a Corn Economy – “misleading and disastrous”"


Paper by Prof. Bofinger and Mathias Ries discussing explanations for low interest rates (2017):
Excess saving and low interest rates: Theory and empirical evidence

Click here to read the corresponding article in VoxEU of July 29, 2017:
Excess saving and low interest rates: Assessing theory and evidence from the Global Crisis