Fall 2021 - A Symposium on: Stephen A. Marglin’s Raising Keynes: A Twenty-First Century Theory
Carolyn Sissoko, Understanding modern money: when the monetary tail is wagging the real economy dog, economic models that don’t take bank regulation into account fall short

February 16, 2022
Understanding modern money: when the monetary tail is wagging the real economy dog, economic models that don’t take bank regulation into account fall short
More Fall 2021 - A Symposium on: Stephen A. Marglin’s Raising Keynes: A Twenty-First Century Theory
Carolyn Sissoko, Understanding modern money: when the monetary tail is wagging the real economy dog, economic models that don’t take bank regulation into account fall short

Current Scholarship
Financial dominance: why the ‘market maker of last resort’ is a bad idea and what to do about it

Carolyn Sissoko, University of the West of England

This paper sets forth a framework modeling the traditional ‘banking approach’ to central bank liquidity provision and advocates a return to it. These reforms must be accompanied by a clear policy that in the event that any bank requires re-capitalization by the government, existing shareholder interests will be wiped out, and ownership will be transferred to the government.
More Current Scholarship
Financial dominance: why the ‘market maker of last resort’ is a bad idea and what to do about it

Money in the Time of Coronavirus
C. Sissoko, A Fire Sale in the US Treasury Market: What the Coronavirus Crisis Teaches us About the Fundamental Instability of our Current Financial Structure

March 27, 2020

Carolyn Sissoko, University of the West of England

A recurring theme in the papers that I have written is that asset price instability is endemic in a system of collateralized lending based on repurchase agreements
More Money in the Time of Coronavirus
C. Sissoko, A Fire Sale in the US Treasury Market: What the Coronavirus Crisis Teaches us About the Fundamental Instability of our Current Financial Structure