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DTSTART;VALUE=DATE:20260817
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SUMMARY:Escuela de Verano de Economía Aplicada para América Latina (EVEAAL) Tercera Edición: Análisis Insumo-Producto
DESCRIPTION:Escuela de Verano de Economía Aplicada para América Latina (EVEAAL) 2026\n Tercera Edición\nAnálisis Insumo-Producto\nVII Seminario de Cadenas Globales de Valor\n  \nPresentación General \nEn el proceso contemporáneo de reconfiguración del orden económico internacional\, las dinámicas sectoriales adquieren una centralidad renovada. La creciente interdependencia productiva y su creciente potencial de escalamiento tecnológico\, convive con el resurgimiento de políticas nacionalistas\, disputas geopolíticas y estrategias explícitas de relocalización industrial. Este entorno tensiona los supuestos bajo los cuales se consolidó el estudio de las Cadenas Globales de Valor\, inicialmente concebidas como redes relativamente estables –aunque asimétricas- organizadas en función de la eficiencia y la coordinación empresarial transnacional\, expresando una estructura de la globalización que explica la organización del proceso de producción y circulación de bienes y servicios. \n  \nEn el escenario actual\, la fragmentación productiva global no puede analizarse al margen de las disputas por tecnología\, seguridad económica y control de sectores estratégicos. Siguiendo los estudios heterodoxos de CGV es necesario seguir analizando la distribución del valor agregado\, cómo se estructuran las jerarquías tecnológicas y cómo se reproducen las asimetrías históricas entre economías centrales y periféricas. El eje Norte-Sur continúa siendo una dimensión clave para interpretar la inserción internacional de América Latina\, tal como lo anticipó la tradición estructuralista representada por Raúl Prebisch. Las transformaciones actuales no eliminan estas brechas\, sino que tienden a reconfigurarlas bajo nuevas formas. \n  \nEn este marco\, el análisis insumo producto se consolida como un instrumento fundamental para avanzar en una cartografía económica sectorial más precisa. Desde las contribuciones pioneras de Wassily Leontief\, esta metodología permite identificar interdependencias productivas\, estimar multiplicadores\, medir encadenamientos hacia atrás y hacia adelante\, y evaluar la capacidad estructural de sectores estratégicos. Integrado al estudio de las Cadenas Globales de Valor\, el enfoque insumo producto aporta una base cuantitativa que permite analizar con mayor rigor la posición relativa de las economías\, los cuellos de botella productivos y las posibilidades reales de diversificación y transformación. \n  \nEsta actividad consta de TRES actividades interconectados: el EVEAAL\, el VII Seminario de Perspectivas Críticas de las Cadenas Globales de Valor y un Workshop Conjunto: \n\n\n¿Qué es EVEAAL?\n\n\nLa EVEAAL surge como un espacio en el que convergen estas preocupaciones analíticas y estratégicas. Está dirigida a estudiantes de posgrado\, investigadores y estudiantes de los últimos semestres de licenciatura interesados en profundizar en herramientas cuantitativas y enfoques críticos del desarrollo. \n\n\n\nModalidad\nFecha límite\nResultados\n\n\n\n\nPresencial\n22 de mayo de 2026\n5 de junio de 2026\n\n\nEn línea\n10 de agosto de 2026\n—\n\n\n\n\n\n¿Qué es el Seminario de Cadenas Globales de Valor?\n\n\nFundado en 2019\, es un espacio de la DEPFE dedicado a la discusión plural y al análisis heterodoxo sobre la reconfiguración de la producción y circulación de bienes y servicios en el marco de relaciones asimétricas lideradas por capitales de los países hegemónicos. Recientemente\, ha incorporado el debate sobre la reorganización de las CGV bajo el capitalismo de las Big Tech. \nLa asociación EVEAAL y Seminario de CGV busca fortalecer capacidades técnicas y analíticas para comprender la inserción internacional de la región en un contexto global crecientemente politizado y fragmentado\, promoviendo un diálogo riguroso entre teoría\, evidencia empírica y debate estructural sobre el futuro productivo de América Latina. \nFecha Límite d registro: 10 de agosto del 2026 (solo del Seminario)\n \n\n\n¿Qué es el Workshop EVEAAL – SPCGV 2026?\n\n\nEn el marco de la tercera edición de la Escuela de Verano de Economía Aplicada para América Latina (EVEAAL) 2026\, y el VII Seminario de Perspectivas Críticas de Cadenas Globales de Valor se abre la convocatoria para participar en el Call for Papers que tendrá lugar el miércoles 19 de agosto de 2026. Esta iniciativa surge ante la necesidad de analizar las transformaciones sectoriales en un contexto de reconfiguración del orden económico internacional\, marcado por disputas tecnológicas\, relocalización productiva y nuevas formas de gobernanza en las Cadenas Globales de Valor. \n  \nALGUNOS MANUSCRITOS PODRÁN SER CONSIDERADOS PARA SU PUBLICACIÓN EN ALGUNO DE LOS NÚMEROS ESPECIALES \n  \nModalidad: Unicamente presencial \n\n\n\nFecha límite\nResultados\n\n\n\n\n22 de mayo de 2026\n5 de junio de 2026\n\n\n\nPROGRAMA EVEAAL\nInstructores:\nLuis Cárdenas del Rey (Universidad Complutense de Madrid); Research Gate: Luis Cárdenas Del Rey\nFahd Boundi Chraki (Universidad Complutense de Madrid) Research Gate: Fahd Boundi \nSesión 1. Introducción a las tablas Input-Output \n\nLas tablas I-O nacionales\nFundamentos de álgebra lineal\n\nSesión 2. El modelo de Leontief \n\nPresentación de la World Input-Output Database\nCálculo de multiplicadores\nAplicaciones en R: Taller práctico\n\nSesión 3. Sectores Verticalmente Integrados (SVI) \n\nAproximación macroeconómica a una cadena de valor\nAplicaciones en R: Taller práctico\n\nSesión 4. El modelo de Ghosh y los encadenamientos productivos \n\nLeontief y Ghosh: controversias y compatibilidad.\nMétodos clásicos de encadenamientos: Chenery-Watanabe y Rasmussen-Hirschman.\nMétodo de extracción hipotética.\nAplicaciones.\n\nSesión 5. Análisis insumo-producto multirregional \n\nOrigen de los modelos regionales y multirregionales.\nModelos Leontief y Ghosh multirregionales.\nExtracción hipotética e integración regional.\nAplicaciones.\n\nSesión 6. Análisis IO y comercio internacional \n\nVentaja absoluta de coste y costos laborales unitarios verticalmente integrados: modelo de Shaikh (2016).\nDescomposición de exportaciones brutas en valor añadido: modelo de Koopman\, Wang y Wei (2014).\nFragmentación internacional y longitud de las cadenas de valor globales: modelo de Los\, Timmer y de Vries (2015).\nAplicaciones.\n\nSesión 7. Empleo y emisiones \n\nMultiplicadores de empleo y efectos inducidos.\nMultiplicadores de emisiones y efectos inducidos.\nAplicaciones.\n\nSesión 8. El modelo dinámico de Leontief \n\nIntroducción al crecimiento multi-sectoral\nAplicaciones en R: Simulación de un sistema dinámico.\n\n(Se requiere 80% asistencia a las sesiones para acreditar el taller EVEAAL 2026) \nSEMINARIO PERSPECTIVAS CRÍTICAS DE CGV\n\n5 conferencias magistrales\, 17\, 18\, 19\, 20 y 21 de agosto\nSe requiere 80% de asistencia a las conferencias magistrales para acreditar el seminario de CGV\n\nKeynote Speakers: \nEnrique Dussel Peters (Facultad de Economía UNAM): Dr. Enrique Dussel Peters \nMónica Casalet (FLACSO México): Mónica Casalet Ravenna – Flacso \nMartín Puchet Anyul (Facultad de Economía UNAM): Dr. Martín Puchet Anyul \nSeyka Sandoval (Facultad de Economía UNAM): Dra. Seyka Verónica Sandoval Cabrera \n  \n  \nCall for Papers: Workshop EVEAAL – SPCGV 2026\nEn el marco de la tercera edición de la Escuela de Verano de Economía Aplicada para América Latina (EVEAAL) 2026\, y el VII Seminario de Cadenas Globales de Valor se abre la convocatoria para participar en el Call for Papers que tendrá lugar el miércoles 19 de agosto de 2026. \nEsta iniciativa surge ante la necesidad de analizar las transformaciones sectoriales en un contexto de reconfiguración del orden económico internacional\, marcado por disputas tecnológicas\, relocalización productiva y nuevas formas de gobernanza en las Cadenas Globales de Valor. \n  \nALGUNOS MANUSCRITOS PODRÁN SER PUBLICADOS EN ALGUNO DE LOS NÚMEROS ESPECIALES. \nNÚMERO ESPECIAL: Entre la integración y la fragmentación: América Latina frente a la reconfiguración de las Cadenas Globales de Valor \nParadigma Económico \n  \nConvocamos a investigadores interesados en discutir avances teóricos y aplicaciones empíricas en torno a análisis insumo producto\, medición del valor agregado\, distribución internacional del valor\, jerarquías tecnológicas\, restricción externa\, especialización productiva\, relocalización industrial y perspectivas críticas del desarrollo. (Aplicar para esta actividad en el formulario\, subiendo tu abstracr 300 palabras\, y título de artículo) \nLas líneas temáticas: \n\nAnálisis insumo producto y cartografía sectorial\n\n\nAplicaciones del análisis insumo producto en economías latinoamericanas\nEncadenamientos productivos y multiplicadores sectoriales\nIdentificación de sectores estratégicos y cuellos de botella estructurales\nDiversificación productiva y cambio estructura\n\n\nCadenas Globales de Valor y distribución internacional del valor\n\n\nMedición del valor agregado doméstico y contenido nacional en el comercio\nInserción internacional y posición relativa en las cadenas productivas\nGobernanza productiva y jerarquías tecnológicas\nReconfiguración de cadenas ante disputas geopolíticas\n\n\nTransición verde y energética\n\n\nTransformación de matrices energéticas y estructura productiva\nEncadenamientos sectoriales asociados a energías renovables\nIndustria verde\, descarbonización y política industrial sostenible\nDependencia tecnológica y minerales estratégicos para la transición energética\n\n\nPolítica industrial y relocalización productiva\n\n\nNearshoring y estrategias de relocalización\nPolíticas industriales contemporáneas y desarrollo productivo\nCapacidades nacionales\, innovación y brechas tecnológicas\n\nLugar: Instituto de Investigaciones Económicas (IIEc) – Posgrado de la Facultad de Economía (DEPFE); Ciudad de México\, México. \nFecha: 17-21 de agosto del 2026 \nIdioma: español \n\n\n\nActividad\nModalidad\nFecha límite\nResultados\n\n\n\n\nEVEAAL\nPresencial\n22 de mayo de 2026\n5 de junio de 2026\n\n\nEVEAAL\nEn línea\n10 de agosto de 2026\nConstancia con 80% de asistencia\n\n\nVII Seminario de CGV\nEn línea/Presencial\n10 de agosto de 2026\nConstancia con 80% de asistencia\n\n\nWorkshop EVEAAL-SPCGV\nPresencial\n22 de mayo de 2026\n5 de junio de 2026\n\n\n\nOrganizadores: Julia Juárez G. (IIEc); Seyka Sandoval C. (DEPFE); Armando Sánchez V. (IIEc) \nMás información: julia.juarez.garcia@comunidad.unam.mx \n 
URL:https://heske.wisdmlabs.net/event/escuela-de-verano-de-economia-aplicada-para-america-latina-eveaal-tercera-edicion-analisis-insumo-producto/
LOCATION:Mario de la Cueva\, Mexico City\, Mexico
CATEGORIES:An in-person event
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DTSTART;VALUE=DATE:20260817
DTEND;VALUE=DATE:20260823
DTSTAMP:20260703T213444Z
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LAST-MODIFIED:20260703T213444Z
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SUMMARY:YSI @ Diamantina Seminar
DESCRIPTION:The traditional Diamantina Seminar will take place from August 17 to 22 and this year’s theme is “Planning\, monitoring and evaluation of public policies.” \nThe state of the country and the world involves crises even more challenging than those we faced in 1982\, when the first seminar was held. Once again\, it is necessary to summon courage\, lucidity and solidarity\, without which we are even more vulnerable in an environment marked by constant manifestations of regressivism and barbarism. \nAs always\, the seminar creates a privileged space for the discussion of some of the great questions of these dark times of ours\, drawing from thematic clusters that aim to shed light\, at least in part\, on what matters today. \nThis year is marked by important historical anniversaries. From a global perspective\, we celebrate the 250th anniversary of the publication of Adam Smith’s The Wealth of Nations\, as well as\, symbolically\, of American Independence. Discussing these themes today serves to assess the deep contradictions of the long liberal hegemony. The year also marks the 90th anniversary of John Maynard Keynes’s General Theory\, whose influence throughout the 20th century and into the early 21st century remains relevant in the debate over the role of the State in the economy. From a local perspective\, in Minas Gerais\, we commemorate the 120th anniversary of the beginning of the João Pinheiro administration and the 70th anniversary of the Juscelino Kubitschek administration at the helm of the Presidency of the Republic in Brazil. These are two important milestones for Minas Gerais and Brazil that are worthy of reflection. \nOn the literary front\, 2026 marks the seventieth anniversary of the publication of two books by João Guimarães Rosa — Grande Sertão: Veredas and Corpo de Baile. The remembrance of Guimarães Rosa here is more than incidental in relation to the previous item. After all\, both Juscelino and Guimarães Rosa earned their degrees in Medicine from UFMG\, were contemporaries at the Faculty\, and in Belo Horizonte genuinely belonged to the generation that built one of the most significant strands of Brazilian modernism. \nIn this way\, it is possible to see the legacy of Juscelino — mayor of Belo Horizonte\, governor of Minas Gerais\, and President of the Republic — as the modern-vanguardist counterpoint that Guimarães Rosa radicalized in his Sertão — which is the world — of what was\, of what is\, but above all of the world of possibilities\, of that which refuses to accept that the last word on the world has already been spoken. \nFinally\, and no less importantly\, the Seminar marks the beginning of the celebrations for Cedeplar’s 60th anniversary. The first initiatives toward the creation of the center took place in 1966\, with its effective founding in 1967. \nA note of longing and tribute\, remembering the absence\, 40 years ago\, of José Santana de Araújo; of Antônio Luís Paixão\, 30 years ago; of Maria Regina Nabuco\, 20 years ago; of Rodrigo Ferreira Simões\, 10 years ago. \nForty-four years on\, we continue to believe that we are only just beginning. As Murilo Mendes once said\, “to be born is a very long journey.” \nThis year\, YSI continues to support the conference. For more details about the Seminar\, access the official website .
URL:https://heske.wisdmlabs.net/event/ysi-diamantina-seminar/
LOCATION:UFVJM – Campus I\, Rua da Glória\, nº 371\, Diamantina\, Minas Gerais\, Brazil
CATEGORIES:An in-person event
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END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Copenhagen:20260817T080000
DTEND;TZID=Europe/Copenhagen:20260821T170000
DTSTAMP:20260316T141108Z
CREATED:20260205T122649Z
LAST-MODIFIED:20260316T141108Z
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SUMMARY:First Summer School on Empirical Stock-Flow-Consistent Modelling
DESCRIPTION:The summer school offers a comprehensive\, hands‑on introduction to building empirical Stock‑Flow Consistent (SFC) models. Participants will work through the full process of developing an empirical SFC model grounded entirely in real‑world data. Because empirical SFC modelling involves navigating a wide range of methodological and practical challenges\, the course places particular emphasis on applied skills that can later support theoretical work or policy analysis. \nBy the end of the week\, participants will be able to construct a simple empirical SFC model and/or adapt the model developed during the sessions for their own research. While the focus is on learning the core components of empirical SFC modelling\, the aim is not to produce a fully detailed or exhaustive model within five days. To keep the learning process tractable\, several simplifying assumptions will be introduced. Participants will nonetheless acquire the tools needed to relax these assumptions and build more sophisticated models in their future work. \n\nApplication\nApplications are open until 1st of May. Please submit your application using the button above\, or the following link: https://forms.office.com/e/NCknF3REJ8 \nThe application should include a brief description of the project or project idea that the applicant intends to develop during the summer school. Applicants who wish to be considered for a travel stipend should indicate this directly in the form. \n\nCourse Content\nThe programme is organised around five key themes: \n\nFoundations of SFC Modelling and Empirical Challenges\nIntroduction to the principles of SFC modelling and an overview of the conceptual and practical issues involved in working with real‑world data.\nConstructing the Dataset\nIdentifying\, processing\, and reconciling data sources to produce a coherent dataset suitable for empirical SFC analysis.\nBuilding the Model Framework\nTranslating accounting structures and behavioural assumptions into a model specification grounded in data.\nValidating the Baseline Model\nImplementing estimation strategies\, assessing model performance\, and ensuring empirical consistency.\nScenario and Policy Analysis\nUsing the model to evaluate economic scenarios and policy interventions.\n\n\nFormat and Structure\nThe summer school spans five days and prioritizes close interaction between participants and experienced SFC modellers. \n\nMorning lectures introduce the key concepts associated with each day’s theme.\nWorkshop sessions where participants work directly with an assigned tutor to further develop their empirical SFC model.\nDaily seminars conclude the day\, allowing participants to share progress\, discuss challenges\, and receive feedback.\n\nBecause the course is strongly project‑based\, applicants should arrive with an already existing project\, or a strong preliminary project idea they can begin developing from the first day. \n\nSocial Dinner and Travel Stipends\nParticipants are invited to a social dinner\, funded by YSI. \nA limited number of travel stipends will be available for participants both within and outside the EU. Applicants wishing to be considered for a stipend should indicate this in the application form. \n\n\n Contact\nFor any questions regarding the summer school\, please contact mamtep@business.aau.dk using the subject line “Empirical SFC Summer School”.
URL:https://heske.wisdmlabs.net/event/first-summer-school-on-empirical-stock-flow-consistent-modelling/
LOCATION:Aalborg University\, Fibigerstræde 11\, Aalborg Øst\, 9220\, Denmark
CATEGORIES:An in-person event
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DTSTART;TZID=America/New_York:20260818T140000
DTEND;TZID=America/New_York:20260818T153000
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CREATED:20231212T030110Z
LAST-MODIFIED:20260717T225613Z
UID:10008197-1787061600-1787067000@heske.wisdmlabs.net
SUMMARY:Money View Reading Group
DESCRIPTION:The Money View Reading Group reads and discusses writings on money\, banking\, and finance. We are a self-directed group. Anyone interested in money and banking can read the readings\, join us for discussions\, or suggest future readings.\nWe meet for 90 minutes via Zoom on Tuesdays at 2 pm Eastern Time US (New York). \n\nCurrent Book\n\n\nAfter the Accord: A History of Federal Reserve Open Market Operations\, the US Government Securities Market\, and Treasury Debt Management from 1951 to 1979\n\nby Kenneth D. Garbade (2021) \nhttps://www.amazon.com/dp/1108839894/ \nFrom the description \nIn this book Garbade\, a former analyst at a primary dealer and researcher at the Federal Reserve Bank of New York\, traces the evolution of open market operations\, Treasury debt management\, and the microstructure of the US government securities markets following the 1951 Treasury-Federal Reserve. This volume examines how these operations evolved\, responding both to external forces and to one another. Utilising a vast scope of primary material\, the work provides insight into how officials fashioned the instruments\, facilities\, and procedures needed to advance their policy objectives in light of their novel freedoms and responsibilities. \nThis is a big book. As we did with Braudel’s The Wheel’s of Commerce last summer\, we are discussing this book in five back-to-back weekly sessions. \n\nUpcoming Sessions\n\n\n2026-07-21 – 2:00pm EDT\n\nDuring the off week\, we discuss Arthur C. Pigou’s Famous 1917 paper\, “The Value of Money.” \nhttps://www.jstor.org/stable/1885078?seq=1 \n\n2026-07-28 — 2:00pm EDT\n\nIn our first of five sessions\, we discuss Parts 1 and 2 of After the Accord by Kenneth Garbade. \n\nChapter 1: Introduction\n\nOpen Market Operations After the Accord\n\nBills Preferably\nRepurchase Agreements\nOpen Market Operations in Coupon-Bearing Debt\n\n\nTreasury Debt Management After the Accord\n\n\nPart I: The System and the Market in the 1940s\n\nChapter 2: The Government Securities Market\n\nWartime Interest Rate Ceilings\nFrom the End of the War to the End of 1949\nBill Auctions\nCash Subscription Offerings\nExchange Offerings\nAn Example\nThe Secondary Market\nThe Postwar Secondary Market\nThe Role of Dealers in Primary Market Offerings\n\n\nChapter 3: Reserves\, Reserve Requirements\, and Reserves Management\n\nReserve Requirements\n\nDemand Deposits\n\n\nReserves in Aggregate\nThe Inter-Bank Market for Federal Funds\nReserves Management\nAppendix: Treasury Cash Management\nAppendix: Identifying the Sources and Uses of Reserves\n\n\nChapter 4: The Institutional Framework of Open Market Operations\n\nThe Recognized Dealer Program\n\nFormalization of the Recognized Dealer Program\n\n\nAdvent of the Qualified Dealer Program\n\nRevising the Institutional Framework of Open Market Operations\nImplementing the Revised Framework\nThe Qualified Dealer Program at the End of the 1940s\n\n\nAppendix: Orderly Markets\n\nA Reexamination\n\n\n\n\n\n\nPart II: The Accord and Its Aftermath\n\nChapter 5: The Accord\n\nRun-Up to the Accord\nThe Accord\n\nThe Nomarketable Bond Offering\n\n\nAfter the Accord\n\n\nChapter 6: Taking Stock\n\nThe New York Reserve Bank Study\n\nThe Existing Framework\nProspects for Fundamental Change\n\nAn Exchange Market\nDirect Trading by Federal Reserve Banks\nReliance on Nonmarketable Long-Term Debt\n\n\nProspects for More Modest Changes\n\nExpanding the Number of Qualified Dealers\n\n\nRelations between the System and the Treasury\nSumming Up\n\n\nThe Ad Hoc Subcommittee Study\n\nSystem Intervention\n\nBills Preferably\nTreasury Financings\n\n\nDealer Qualification Requirements\nMarket Intelligence\n\n\n\n\nChapter 7: New Directions\n\nMarket Intervention\nDealer Relations\n\nMarket Intelligence\n\n\nSubsequent Actions\n\nThe End of the Qualified Dealer Program\nPublicizing the New Restrictions on Market Intervention\n\n\n\n\nChapter 8: Challenging the New Restrictions\n\nThe April 1953 Bond Offering\nThe Mid-May Executive Committee Meetings\n\nThe May 6 Meeting\nThe May 13 Meeting\nSystem Open Market Account Activity and Reserve Availability in May\n\n\nBreakdown and Intervention\nRevisiting the Restrictions on Intervention\n\nReimposition\n\n\nThe Controversy Becomes Public\n\n\nChapter 9: An Additional Limitation on the Conduct of Open Market Operations\n\nA Swap Authorization\nPushback\nRound Two\n\n\n\n\n\n\n2026-08-04 — 2:00pm EDT\n\nIn our second of five sessions\, we discuss Part 3 of After the Accord by Kenneth Garbade. \n\nPart III: The New Regime\n\nChapter 10: Monetary Policy in 1954\n\nMonitoring Economic Activity\nMonetary Policy\n\nThe Directives\nThe Minutes\n\n\nCaveats\n\n\nChapter 11: Policy Instruments for Reserves Management\n\nOutright Purchases and Sales of Treasury Bills\nRepurchase Agreements on Short-Term Treasury Securities\n\nRepurchase Agreements before the Accord\nPostwar Reinstatement\nLinking the Floor on Repo Rates to the Treasury Bill Rate Instead of the Discount Rate\nConsequences of the Accord\nRepurchase Agreements in 1954\nRobertson’s Resistance to System Repurchase Agreements\nThe Opening Round\nRobertson’s Critique\nA Proposal\nReconciliation\nSubsequent Events\n\n\n\n\nChapter 12: Monetary Policy in 1955\n\nFOMC Directives\nMoney Market Indicators\nTreasury Offerings of Coupon-Bearing Debt\n\nAttrition on Exchange Offerings\nMaintaining an Even Keel\n\n\nDefensive Operations\n\nWhen Reserves Needed to Be Drained\nTwo Work-Arounds\n\n\n\n\nChapter 13: Pragmatism in the Accommodation of Treasury Offerings\n\nRepurchase Agreements on Rights\nIntervention\nIntervention by Another Name\n\n\nChapter 14: 1956 and 1957\n\nDefensive Operations\n\nCurrency\nFloat\nTreasury Balances at Federal Reserve Banks\nForecasting Errors\n\n\nAccommodating Treasury Offerings\n\nThe May 1957 Refunding\nSubsequent Offerings in 1957\n\n\nThe Continuing Importance of Repurchase Agreements\n\n\n\n\n\n\n2026-08-11 — 2:00pm EDT\n\nIn our third of five sessions\, we discuss Parts 4 and 5 of After the Accord by Kenneth Garbade. \n\nPart IV: Summer 1958 and Its Consequences\n\nChapter 15: The Summer 1958 Treasury Financings\n\nAn Overview of 1958\nRun-Up to the June Financing\nThe June Financing\n\nResults of the Financing\n\n\nThe Aftermath of the June Financing\n\nThe Treasury Enters the Market\nTrading on July 8\nTreasury Reveals Its Purchases\n\n\nIraq and Lebanon\nThe July Refunding\n\nFriday\, July 18\nThe Subscription Period (Monday\, July 21 to Wednesday\, July 23)\nDenouement\n\n\nAftermath to the July Refunding\n\n\nChapter 16: Innovations in Treasury Debt Management\n\nA Need for Change\n\nTreasury Issuance of Coupon-Bearing Debt from 1953 to 1958\nGaines’s Critique\nTreasury Bills – A Bright Spot\nFriedman’s Recommendations\n\n\nTreasury’s Innovations\n\nIssuing and Redeeming Coupon-Bearing Debt on a Regular Schedule\nTwenty-Six-Week Bills\nCash Refundings\nThe Problem of SOMA Reinvestments\nAdvance Refundings\nWhy the Treasury Declined to Extend the Auction Process to Coupon-Bearing Securities\n\n\n\n\nChapter 17: The Treasury-Federal Reserve Study of the Government Securities Market\n\nMarket Statistics\n\nAdvent of the Reporting Dealer Program\n\nInitial Discussions\nA Joint Staff Proposal\nImplementation\n\n\n\n\nDealer Finance\nProspects for a Dealer Association\n\n\n\n\nPart V: The End of Bills Preferably\n\nChapter 18: The 1958-1960 Gold Drain\n\nGold in the International Payments System\nThe London Gold Market\nThe Place of Gold in FOMC Deliberations\nThe Break-out of London Gold Prices\nThe Place of Gold in FOMC Deliberations After the Break-out\nContemplating the Future\n\n\nChapter 19: Operation Twist\n\nHow Economists Viewed the Term Structure of Interest Rates\nThe February 7 Executive Session of the Federal Open Market Committee\nConducting Open Market Operations in Longer-Term Securities\nWhat\, Exactly\, Were the Objectives of the New Program?\nDisengagement?\nThe Scale of Open Market Operations in Longer-Term Securities\nAbandoning the 1953 Operating Principles\nOperation Twist After 1961\n\nNew Policy Instruments\nNew Empirical Evidence\n\n\nThe End of $35 Gold\n\n\n\n\n\n\n2026-08-18 — 2:00pm EDT\n\nIn our fourth of five sessions\, we discuss Parts 6 and 7 of After the Accord by Kenneth Garbade. \n\nPart VI: The 1960s\n\nChapter 20: Treasury Debt Management in the 1960s\n\nSecular Variation of Marketable Debt\nTreasury Bills\n\nRegular Bills\nBill Strips\nTax Anticipation Bills\n\n\nCertificates\, Notes\, and Bonds\n\nMid-Quarter Refundings\nStand-Alone Offerings for New Money\nAdvance Refundings\n\nAdvance Refundings after Mid-1965\n\n\n\n\nThe Two Worlds of Treasury Finance\n\nAn Experiment in Auctioning Bonds\n\n\n\n\nChapter 21: Monetary Policy in the 1960s\n\n1961 to 1965\n1966\n\nThe August Money Panic\n\n\n\n\nChapter 22: Repurchase Agreements in the 1960s\n\nSystem Access to Repo Collateral\n\nRelaxing the Two-Year Maturity Limit\nEliminating the Two-Year Maturity Limit and Permitting Back-to-Back Repos\nSystem Repos on Agency Collateral\n\n\nMatched Sale-Purchase Agreements\nAn Unsuccessful Effort to Introduce More Flexible Repo Pricing\n\n\n\n\nPart VII: Updating Market Infrastructures: The Joint Study\n\nChapter 23: The Association of Primary Dealers\n\nArrivals and Departures\nFederal Reserve and Treasury Thinking About a Dealer Association\nPrecipitating Events\nFormation of the Association of Primary Dealers\n\n\nChapter 24: Dealer Finance\n\nDealer Finance and the Role of Money Market Banks as Residual Lenders\nRecommendations of the Joint Study Steering Committee\nResponse of the Federal Open Market Committee\n\n\nChapter 25: The Government Securities Clearing Arrangement\n\nSettling Transactions in Treasury Securities Before 1965\n\nIntracity Settlements\nCPD Settlement\n\n\nOrigins of the Clearing Arrangement\nThe Pilot Program\nIntracity Transfers\nBalancing the Demands of Competing Settlement Systems\nRemarks\n\n\nChapter 26: Securities Lending\n\nThe Impetus for a Federal Reserve Securities Lending Program\nThe Joint Study Proposal\n\nThe Staff Study\nDiscussion by the Steering Committee\nThe FOMC Response\n\n\nThe 1969 Fails Crisis\nThe FOMC Revisits Securities Lending\nWhether to Lend Against Short Sales\n\n\nChapter 27: The Book-Entry System\, Part I\n\nOrigins of the Book-Entry System\nIssues in Creating a Book-Entry System\nThe First Implementation\nThe Second Implementation\nWhat Remained to be Done\n\n\n\n\n\n\n2026-08-25 — 2:00pm EDT\n\nIn our last of five sessions\, we discuss Parts 8 and 9 of After the Accord by Kenneth Garbade. \n\nPart VIII: The 1970s\n\nChapter 28: Treasury Debt Management in the 1970s\n\nMarketable Treasury Debt in the 1970s\n\nRegular Bills\nThirteen- and Twenty-Six-Week Bills\nNine-Month Bills and One-Year Bills\nBill Strips\nIrregular Bills\nNotes and Bonds\nAverage Maturity\n\n\nThe Introduction of Treasury Note and Bond Auctions\n\nThe May 1970 Refunding\nThe First Auction\nSubsequent Auction Offerings of Notes and Bonds\nConsequences of Bond Auctions for Advance Refundings\nFine-Tuning the Auction Process\n\nA Failed Auction and the Advent of Yield Auctions\nThe End of Single-Price Auctions\n\n\nA Last Harrah for Fixed-Price Offerings\n\n\nThe Advent of Regular and Predictable Note and Bond Offerings\n\nThe Introduction of Two-Year Cycle Notes\nExtending Regular and Predictable Issuance to Intermediate-Term Notes\nMid-Quarter Refundings and Fifteen-Year Bonds\n\n\nA Recapitulation of Treasury Debt Management Innovations in the 1970s\n\n\nChapter 29: Monetary Policy in the 1970s\n\n1970-1971\n1972-1973\n1974-1979\nFluctuations in Autonomous Factors\n\nTreasury Deposits at Federal Reserve Banks\nFloat\nBank Borrowing at the Discount Window\n\n\nThe End (Sort of) of Even Keel\n\n\nChapter 30: Open Market Operations in the 1970s\n\nThe Operating Environment\n\nTreasury Cash Management\n\n\nThe Continuing Problem with Liquidity\n\nCompetitive Repo Pricing\nSystem Repos with Bank Dealers\nAnother Way Around the Barn\n\n\nOutright Transactions in Federal Agency Debt\n\nReconsideration\nSubsequent Events\n\n\n\n\n\n\nPart IX: Infrastructure in the 1970s\n\nChapter 31: The Secondary Market in the 1970s\n\nPrimary Dealers\nThe Interdealer Broker Market\n\nManaging the Risks of Blind Brokerage\nSeparating Reporting Dealer Status from Primary Dealer Status\n\n\nThe Rise of Screen Brokers\n\n\nChapter 32: The Book-Entry System\, Part II\n\nThe Insurance Crisis\nExpansion of the Book-Entry System\nConfronting the Limits of Technology\nThe End of the GSCA and the End of Definitive Securities\n\n\nChapter 33: Coda\n\nInitial Actions\n\nThe 1953 Operating Principles\nEven Keeling\n\n\nA Metaphor for Change\nTreasury Debt Management\n\nAuctions of Coupon-Bearing Debt\n\n\nOpen Market Operations\nFailed and Supplanted Initiatives\nInter-Agency Accommodations\n\nOperation Twist\nTreasury Cash Management\nCash Management Bills\n\n\nMarket Infrastructure\n\nGovernment Securities Clearing Arrangement\nBook-Entry II\nSecurities Lending\nThe Association of Primary Dealers in US Government Securities\n\n\nRecapitulation\n\n\nChapter 34: After 1979\n\nTreasury Debt Management\n\nNew Securities\nAuction Innovations\n\n\nMarket Infrastructure\n\nDrysdale\nESM and Bevill\, Bresler\nThe Government Securities Clearing Corporation\nAccess to the Interdealer Broker Market\n\n\n\n\n\n\n\n\nFuture Suggested Readings\n\n\nHow a Ledger Became a Central Bank: A Monetary History of the Bank of Amsterdam by Quinn and Roberds (2023)\nThe Almighty Dollar: 500 Years of the World’s Most Powerful Money by Brendan Greeley (2026)\nWell Worth Saving: How the New Deal Safeguarded Home Ownership by Fishback\, Rose\, and Snowden (2013)\nSlapped by the Invisible Hand: The Panic of 2007 by Gary Gorton (2010)\nThe House of Morgan by Ron Chernow (1990)\nA Study of Money Flows in the United States by Morris Copeland (1952)\nA History of the Greenbacks by Wesley Clair Mitchell (1903)\nCalming the Storms: The Carry Trade\, the Banking School and British Financial Crises Since 1825 by Charles Read (2023)\nBenjamin Strong: Central Banker by Lester V. Chandler (1958)\nAn Engine\, Not a Camera: How Financial Models Shape Markets by Donald MacKenzie (2007)\nCurrency and Credit (4e) by Ralph Hawtrey (1950)\nThe Golden Age of the Quantity Theory by David Laidler (1991)\nCapitalizing on Crisis: The Political Origins of the Rise of Finance by Greta Krippner (2011)\nThe Federal Reserve System by Paul Warburg (1930)\nCentral Bank Capitalism: Monetary Policy in Times of Crisis by Joscha Wullweber (2024)\nIntroduction to Central Banking by Ulrich Bindseil and Alessio Fota (2021)\nThe Chairman: John J. McCloy & The Making of the American Establishment by Kai Bird (1992)\nManias\, Panics\, and Crashes (8e) by Robert McCauley (2023)\nThe Bailout State: Why Governments Rescue Banks\, Not People by Martijn Konings (2025)\n\n\nPast Readings with Discussion Recordings\n\n\nMinsky by Daniel H. Neilson (2019)\n2021-03-24 — Discussion Session 1\n2021-03-31 — Discussion Session 2\n2021-04-07 — Discussion with Daniel Neilson\nThe Art of Central Banking (Chapter IV) by Ralph Hawtrey (1933)\n2021-04-21 — Discussion Session 1\n2021-05-05 — Discussion Session 2\n2021-05-26 — Discussion with David Glasner\nMaking Money: Coin\, Currency\, and the Coming of Capitalism by Christine Desan (2014)\n2021-06-02 — Discussion Session 1\n2021-06-16 — Discussion Session 2\n2021-06-30 — Discussion Session 3\n2021-07-14 — Discussion with Christine Desan\nMoney in a Theory of Finance by John G. Gurley\, Edward S. Shaw (1960)\n2021-07-21 — Discussion Session 1\n2021-08-04 — Discussion Session 2\n2021-08-18 — Discussion Session 3\nThe World in Depression\, 1929-1939 by Charles P. Kindleberger (1973)\n2021-09-01 — Discussion Session 1\n2021-09-15 — Discussion Session 2\n2021-09-29 — Discussion Session 3\nThe Rise of Carry by Jamie Lee et al (2019)\n2021-10-13 — Discussion Session 1\n2021-10-27 — Discussion Session 2\nThe Money Interest and the Public Interest by Perry Mehrling (1998)\n2021-11-10 — Discussion Session 1 | Allyn Young\n2021-11-24 — Discussion Session 2 | Alvin Hanson\n2021-12-08 — Discussion Session 3 | Edward Shaw\nControlling Credit by Eric Monnet (2018)\n2022-01-05 — Discussion Session 1\n2022-01-19 — Discussion Session 2\nThe Menace of Fiscal QE by George Selgin (2020)\n2022-02-02 — Discussion Session\nThe New Lombard Street by Perry Mehrling (2011)\n2022-02-23 — Discussion Session 1\n2022-03-09 — Discussion Session 2\n2022-03-23 — Discussion Session 3\nFighting Financial Crises: Learning from the Past by Gary Gorton\, Ellis Tallman (2021)\n2022-04-20 — Discussion Session 1\n2022-05-11 — Discussion Session 2\nMoney and empire: The international gold standard\, 1890-1914 by Marcello De Cecco (1974)\n2022-05-25 — Discussion Session 1\n2022-06-15 — Discussion Session 2\nCentral Bank Cooperation 1924-31 by Stephen Clarke (1967)\n2022-06-22 — Discussion Session 1\n2022-07-06 — Discussion Session 2\nThe Money Problem: Rethinking Financial Regulation by Morgan Ricks (2016)\n2022-07-27 — Discussion Session 1\n2022-08-10 — Discussion Session 2\n2022-08-17 — Discussion with Morgan Ricks\nThe Evolution of Central Banking: Theory and History by Stefano Ugolini (2017)\n2022-08-24 — Discussion Session 1\n2022-09-07 — Discussion Session 2\n2022-09-21 — Discussion Session 3\n2022-10-05 — Discussion with Stefano Ugolini\nA Financial History of Western Europe by Charles P. Kindleberger (1984\, 1993)\n2022-10-19 — Discussion Session 1 | Part 1: Money\n2022-11-02 — Discussion Session 2 | Part 2: Banking\n2022-11-16 — Discussion Session 3 | Part 3: Finance\n2023-01-11 — Discussion Session 4 | Part 4: The Interwar Period\n2023-01-18 — Discussion Session 5 | Part 5: After World War II\nMoney and Empire: Charles P. Kindleberger and the Dollar System by Perry Mehrling (2022)\n2022-11-30 — Discussion Session 1 | Part 1: Intellectual Formation\, 1910–1948\n2022-12-14 — Discussion Session 2 | Part 2: International Economist\, 1948–1976\n2022-12-21 — Discussion Session 3 | Part 3: Historical Economist\, 1976–2003\n2022-12-21 — Discussion #1 with Perry Mehrling\n2023-01-04 — Discussion #2 with Perry Mehrling\nBonds without Borders: A History of the Eurobond Market by Chris O’Malley (2015)\n2023-02-15 — Discussion Session 1\n2023-03-01 — Discussion Session 2\nMonetary Policy Operations and the Financial System by Ulrich Bindseil (2014)\n2023-03-15 — Discussion Session 1 (Ch 1-8)\n2023-03-29 — Discussion Session 2 (Ch 9-12)\n2023-04-12 — Discussion Session 3 (Ch 13-18)\nCapital Wars: The Rise of Global Liquidity by Michael J. Howell (2020)\n2023-04-26 — Discussion Session 1 (Ch 1-7)\n2023-05-10 — Discussion Session 2 (Ch 8-14)\nA Market Theory of Money by John Hicks (1989)\n2023-05-24 — Discussion Session 1 (Ch 1-7)\n2023-06-07 — Discussion Session 2 (Ch 8-15)\nThe Currency of Politics: The Political Theory of Money from Aristotle to Keynes by Stefan Eich (2022)\n2023-06-28 — Discussion Session 1 (Ch 1 & 2)\n2023-07-19 — Discussion Session 2 (Ch 3 & 4)\n2023-08-02 — Discussion Session 3 (Ch 5 & 6)\n2023-08-14 — Discussion with Stefan Eich\nFischer Black and the Revolutionary Idea of Finance by Perry Mehrling (2005)\n2023-08-22 — Discussion Session 1 (Ch 1–5)\n2023-09-05 — Discussion Session 2 (Ch 6–8)\n2023-09-19 — Discussion Session 3 (Ch 9–11)\n2023-09-26 — Discussion with Perry Mehrling\nThe Evolution of Central Banks by Charles Goodhart (1988)\n2023-10-03 — Discussion Session 1 (Ch 1–6)\n2023-10-17 — Discussion Session 2 (Ch 7–8\, Appendix)\nThe Repo Market: Shorts\, Shortages\, and Squeezes by Scott Skyrm (2023)\n2023-11-07 — Discussion Session 1 (pages 1–92)\n2023-11-21 — Discussion Session 2 (pages 93–186)\n2023-12-05 — Discussion Session 3 (pages 187–310) Part 1 — Part 2\n2023-12-12 — Discussion with Scott Skyrm From 39:20\nThe Volatility Machine: Emerging Economies and the Threat of Financial Collapse by Michael Pettis (2001)\n2023-12-19 — Discussion Session 1 (Ch 1–5)\n2024-01-02 — Discussion Session 2 (Ch 6–10)\n2024-01-09 — Discussion with Michael Pettis\nInternational Capital Movements by Charles P. Kindleberger (1987)\n2024-01-16 — Discussion Session 1 (Ch 1 & 2)\n2024-01-30 — Discussion Session 2 (Ch 3 & 4)\nA Political Theory of Money by Anush Kapadia (2024)\n2024-02-20 — Discussion Session 1 (Ch 1–4)\n2024-03-05 — Discussion Session 2 (Ch 5–7)\n2024-03-19 — Discussion Session 3 (Ch 8–12)\n2024-03-26 — Discussion with Anush Kapadia\nThe Rise of Central Banks: State Power in Financial Capitalism by Leon Wansleben (2023)\n2024-04-02 — Discussion Session 1 (Ch 1–3)\n2024-04-23 — Discussion Session 2 (Ch 4–6)\n2024-05-07 — Discussion with Leon Wansleben\nThe Money Illusion: Market Monetarism\, the Great Recession\, and the Future of Monetary Policy by Scott Sumner (2021)\n2024-05-14 — Discussion Session 1 (Parts 1 & 2)\n2024-05-28 — Discussion Session 2 (Parts 3 & 4)\n2024-06-18 — Discussion Session 3 (Parts 5 & 6)\n2024-06-25 — Discussion with Scott Sumner\nPrivate Money and Public Currencies: The Sixteenth Century Challenge: The Sixteenth Century Challenge by Boyer-Xambeu\, Deleplace\, and Gillard (1994)\n2024-07-02 — Discussion Session 1 (Ch 1–3)\n2024-07-16 — Discussion Session 2 (Ch 4 & 5)\n2024-07-30 — Discussion Session 3 (Ch 6\, 7 & Conclusion)\nThe Arena of International Finance by Charles A. Coombs (1976)\n2024-08-13 — Discussion Session 1 (Ch 1ー6)\n2024-08-27 — Discussion Session 2 (Ch 7–12)\nThe Bill on London: or The Finance of Trade by Bills of Exchange by Gillett Brothers (1952/1976)\n2024-09-17 — Discussion Session\nBirth of a Market: The U.S. Treasury Securities Market from the Great War to the Great Depression by Kenneth D. Garbade (2012)\n2024-10-01 — Discussion Session 1 (Ch 1–10)\n2024-10-15 — Discussion Session 2 (Ch 11–15)\n2024-10-29 — Discussion Session 3 (Ch 16–24)\nA Monetary and Fiscal History of the United States\, 1961–2021 by Alan S. Blinder (2022)\n2024-11-12 — Discussion Session 1 (Ch 1–7)\n2024-11-26 — Discussion Session 2 (Ch 8–13)\n2024-12-10 — Discussion Session 3 (Ch 14–19)\nBuilding a Ruin: The Cold War Politics of Soviet Economic Reform by Yakov Feygin (2024)\n2025-01-07 — Discussion Session 1 (Ch 1–3)\n2025-01-21 — Discussion Session 2 (Ch 4–6)\n2025-02-04 — Discussion Session 3 (Ch 7 & Afterword)\nA Crash Course on Crises: Macroeconomic Concepts for Run-Ups\, Collapses\, and Recoveries by Markus K. Brunnermeier and Ricardo Reis (2023)\n2025-02-25 — Discussion Session 1 (Parts 1 and 2)\n2025-03-11 — Discussion Session 2 (Parts 3 and 4)\nThe Empire of Value: A New Foundation for Economics by Andre Orlean (2014)\n2025-03-25 — Discussion Session 1 (Introduction and Part 1) Part 1 — Part 2\n2025-04-08 — Discussion Session 2 (Parts 2 and 3)\n2025-04-22 — Discussion Session 3 (Part 4 and Conclusion)\nThe Wheels of Commerce by Fernand Braudel (1979/1982)\n2025-05-06 — Discussion Session 1 (Chapter 1)\n2025-05-13 — Discussion Session 2 (Chapter 2)\n2025-05-20 — Discussion Session 3 (Chapter 3)\n2025-05-27 — Discussion Session 4 (Chapter 4)\n2025-06-03 — Discussion Session 5 (Chapter 5)\nBeyond Banks: Technology\, Regulation\, and the Future of Money by Dan Awrey (2024)\n2025-06-17 — Discussion Session 1 (Intro & Ch 1–3)\n2025-07-01 — Discussion Session 5 (Ch 4–7 & Conclusion)\n2025-07-08 — Discussion with Dan Awrey\nOur Dollar\, Your Problem: An Insider’s View of Seven Turbulent Decades of Global Finance by Kenneth Rogoff (2025)\n2025-08-19— Discussion Session 1 (Parts 1-3)\n2025-08-26 — Discussion Session 2 (Parts 4-6)\nCentral Banking Before 1800: A Rehabilitation by Ulrich Bindseil (2019)\n2025-09-01 — Discussion Session 1 (Ch 1&2)\n2025-09-15 — Discussion Session 2 (Ch 3–5)\n2025-09-29 — Discussion Session 3 (Ch 6&7)\n2025-10-13 — Discussion with Ulrich Bindseil\nThe Long Twentieth Century: Money\, Power and the Origins of Our Times by Giovanni Arrighi (2010)\n2025-10-20 — Discussion Session 1 (Ch 1&2)\n2025-11-03 — Discussion Session 2 (Ch 3)\n2025-11-10 — Discussion Session 3 (Ch 4)\nFragile by Design: The Political Origins of Banking Crises and Scarce Credit by Charles W. Calomiris and Stephen Haber (2014)\n2025-11-17 — Discussion Session 1 (Ch 1–5)\n2025-12-01 — Discussion Session 2 (Ch 6-9)\n2025-12-15 — Discussion Session 3 (Ch 10–15)\n2026-01-05 — Discussion with Charles Calomiris\nTreatise on Money by Joseph Schumpeter (1970/2014)\n2026-01-12 — Discussion Session 1 (Ch 1–3)\n2026-01-27 — Discussion Session 2 (Ch 4–7)\n2026-02-10 — Discussion Session 3 (Ch 8–10)\n2026-02-24 — Discussion Session 4 (Ch 11–12)\nBetween Payments and Credit: An Introduction to the IOU Economy by George Pantelopoulos (2025)\n2026-03-10 — Discussion Session 1 (Ch 1–5)\n2026-03-24 — Discussion Session 2 (Ch 6–10)\n2026-04-07 — Discussion Session 3 (Ch 11–13)\n2026-04-14 — Discussion with George Pantelopoulos\nAgainst Money by J. W. Mason and Arjun Jayadev (2026)\n2026-05-05 — Discussion Session 1 (ch 1–4)\n2026-05-12 — Discussion Session 2 (ch 5–7)\n2026-06-12 — Discussion with J.W. Mason\nOur Money: Monetary Policy as if Democracy Matters by Leah Downey (2025)\n2026-06-02 — Discussion Session 1 (Ch 1–3)\n2026-06-16 — Discussion Session 2 (Ch 4–8)\nThe History of Money: A Story of Humanity by David McWilliams (2024)\n2026-06-23 — Discussion Session 1 (Parts 1 & 2)\n2026-07-07 — Discussion Session 2 (Parts 3–5)\n\n\nOff-Week Sessions\n\n2021-05-19 BIS Working Paper: Breaking free of the triple coincidence in international finance (2015)\n2021-07-07 Global Domain of the Dollar: 8 Questions by Robert McCauley Author Discussion\n2021-07-28 BIS and Bank of England reports on Central Bank Digital Currencies\n2022-09-28 The Crypto Banking System by Sébastien Derivaux (2022) Author Discussion\n2023-04-05 Discussion of Silicon Valley Bank\n2023-04-19 Institutional Cash Pools by Zoltan Pozsar (2011)\n2023-05-03 BIS Bulletin #73: Stablecoins vs. Tokenized Deposits (May 3\, 2023)\n2023-07-05 The Credit–Money Hierarchy: a Republican \, Egalitarian Appraisal by Aaron James (2023)\n2023-07-26 Public Purpose Finance: The Government’s Role as Lender by Nadav Orian Peer (2020) Author Discussion 2023-10-24 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 1\n2023-10-31 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 2\n2023-11-14 ICMA Repo FAQ by Richard Comotto (2013/2019)\n2023-11-28 Basis Trades and Treasury Market Illiquidity by Daniel Barth & Jay Kahn (2020)\n2024-01-23 Capital flows and the current account by Borio and Disyatat (2015)\n2024-02-13 The dual currency system of Renaissance Europe by Luca Fantacci (2008)\n2024-02-27 BIS: Buy now\, pay later: a cross-country analysis by Cornelli et al. (2023)\n2024-03-12 The non-use of money in the Middle Ages by Bell\, Brooks\, and Moore (2017)\n2024-04-09 The Central Role of Credit Crunches in Recent Financial History by Albert M. Wojnilower (1980)\n2024-04-16 Measuring Equilibrium in the Balance of Payments by Charles P. Kindleberger (1969)\n2024-04-30 The Rise and Risks of Private Credit — GFSR (April\, 2024)\n2024-06-04 BIS Working Paper No 1100: Getting up from the floor by Claudio Borio (May\, 2023)\n2024-06-11 The Offshore Dollar and US Policy by Robert McCauley (May\, 2024)\n2024-07-09 The (impossible) repo trinity: the political economy of repo markets by Daniela Gabor (2016)\n2024-08-07 A Safe Haven for Hidden Risks (May 30\, 2024) and Rate Transformation (November 4\, 2023) by Elham Saeidinezhad\n2024-08-20 The Collateral Supply Effect on Central Bank Policy by Carolyn Sissoko (2020)\n2024-09-10 Monetary Policy Implications of Market Maker of Last Resort Operations by Anil K Kashyap (August 23\, 2024)\n2024-11-05 BIS Bulletin No 90: The market turbulence and carry trade unwind of August 2024 (August 27\, 2024)\n2024-11-19 Yen Carry Trade and the Subprime Crisis by Masazumi Hattori and Hyun Song Shin (2009)\n2024-12-03 After the Allocation: What Role for the Special Drawing Rights System? by Pforr\, Pape\, and Murau (2022)\n2025-01-14 Where Profits Come From by the Levy Forecasting Center by Levy\, Farnham\, & Rajan (2008/1997)\n2025-01-28 The Broad Consequences of Narrow Banking by Matheus R. Grasseli and Alexander Lipton (2019)\n2025-02-11 Failing Banks by Sergio Correia\, Stephen Luck\, and Emil Verner (2024)\n2025-02-18 Odd Lots — The Hidden History of Eurodollars by Lev Menand and Joshua Younger (January 2025)\n2025-03-04 Of Last Resort: Evaluating the Treasury-Equity Model of Federal Reserve Emergency Lending by Steven Kelly (2024)\n2025-03-18 Commercial Banking and Capital Formation I–IV by Harold Moulton (1918)\n2025-04-01 Climate Alignment For Banks: The Stories That Numbers Tell by Nadav Orian Peer (2025) Author Discussion\n2025-04-15 Shadow Banking: Why Modern Money Markets are Less Stable Than 19th c. Money Markets But Shouldn’t Be Stabilized by a ‘Dealer of Last Resort’ by Carolyn Sissoko (2014)\n2025-04-29 Treasury Market and the Basis Trade (Adrian et al. 2025; Kashyap et al. 2025)\n2025-06-10 Structural Changes in the Global Financial System lecture by Hyun Song Shin (May 19\, 2025)\n2025-06-24 International Regimes\, Transactions\, and Change: Embedded Liberalism in the Postwar Economic Order by John Gerard Ruggie (1982)\n2025-07-15 BIS Annual Report Chapter: Financial conditions in a changing global financial system (2025)\n2025-07-22 Banks Are Intermediaries of Loanable Funds by George Selgin (2024)\n2025-07-29 Theorising non-bank financial intermediation by Jo Michell (2024)\n2025-08-05 Banks are different: why bank-based versus market-based lending is a false dichotomy by Carolyn Sissoko (2024)\n2025-09-08 Did France Cause the Great Depression? by Douglas A. Irwin (2010)\n2025-09-22 Rethinking Monetary Sovereignty: The Global Credit Money System and the State by Murau and van’t Klooster (2023)\n2025-10-06 Rethinking currency internationalisation: offshore money creation and the EU’s monetary governance by Murau and van’t Klooster (2025)\n2025-10-27 BIS Bulletin No 114: “Financial channel implications of a weaker dollar for emerging market economies” by Juselius\, Wooldridge and Xia (October 13\, 2025)\n2025-11-24 Bubble or Nothing: Data Center Project Finance by Advait Arun (November 12\, 2025)\n2025-12-08 Discussion of Debate over Whether Money Multiplier Requires Cash Lending\n2026-01-20 Gresham’s Law by Charles P. Kindleberger (1989)\n2026-02-03 The Law of One Price by Charles P. Kindleberger (1989)\n2026-02-17 Bank Runs With and Without Bank Failures by Correia\, Luck\, and Verner (2026)\n2026-03-03 Monetary Experience and the Theory of Money by John Hicks (1977)\n2026-03-31 What Is Money (1913) and The Credit Theory of Money (1914) by A. Mitchell-Innes\n2026-04-21 Covered interest parity lost: understanding the cross-currency basis by Borio et al. (2016)\n2026-04-28 Decoupling Dollar and Treasury Privilege by Du\, Keerati\, and Schreger (2025)\n2026-06-30 FEDS Note: Decomposing Hedge Funds’ U.S. Treasury Exposures by Phillip J. Monin (June 22\, 2026)\n2026-07-14 The Chicago Plan Revisited by Benes and Kumhof (2012)
URL:https://heske.wisdmlabs.net/event/money-view-reading-group/2026-08-18/
CATEGORIES:A series of zooms
ATTACH;FMTTYPE=image/png:https://heske.wisdmlabs.net/wp-content/uploads/2023/12/lecture2-p4x2-hierarchy-pyramid-dynamics.png
LOCATION:https://heske.wisdmlabs.net/event/money-view-reading-group/2026-08-18/
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=America/New_York:20260825T140000
DTEND;TZID=America/New_York:20260825T153000
DTSTAMP:20260717T225613Z
CREATED:20231212T030110Z
LAST-MODIFIED:20260717T225613Z
UID:10008198-1787666400-1787671800@heske.wisdmlabs.net
SUMMARY:Money View Reading Group
DESCRIPTION:The Money View Reading Group reads and discusses writings on money\, banking\, and finance. We are a self-directed group. Anyone interested in money and banking can read the readings\, join us for discussions\, or suggest future readings.\nWe meet for 90 minutes via Zoom on Tuesdays at 2 pm Eastern Time US (New York). \n\nCurrent Book\n\n\nAfter the Accord: A History of Federal Reserve Open Market Operations\, the US Government Securities Market\, and Treasury Debt Management from 1951 to 1979\n\nby Kenneth D. Garbade (2021) \nhttps://www.amazon.com/dp/1108839894/ \nFrom the description \nIn this book Garbade\, a former analyst at a primary dealer and researcher at the Federal Reserve Bank of New York\, traces the evolution of open market operations\, Treasury debt management\, and the microstructure of the US government securities markets following the 1951 Treasury-Federal Reserve. This volume examines how these operations evolved\, responding both to external forces and to one another. Utilising a vast scope of primary material\, the work provides insight into how officials fashioned the instruments\, facilities\, and procedures needed to advance their policy objectives in light of their novel freedoms and responsibilities. \nThis is a big book. As we did with Braudel’s The Wheel’s of Commerce last summer\, we are discussing this book in five back-to-back weekly sessions. \n\nUpcoming Sessions\n\n\n2026-07-21 – 2:00pm EDT\n\nDuring the off week\, we discuss Arthur C. Pigou’s Famous 1917 paper\, “The Value of Money.” \nhttps://www.jstor.org/stable/1885078?seq=1 \n\n2026-07-28 — 2:00pm EDT\n\nIn our first of five sessions\, we discuss Parts 1 and 2 of After the Accord by Kenneth Garbade. \n\nChapter 1: Introduction\n\nOpen Market Operations After the Accord\n\nBills Preferably\nRepurchase Agreements\nOpen Market Operations in Coupon-Bearing Debt\n\n\nTreasury Debt Management After the Accord\n\n\nPart I: The System and the Market in the 1940s\n\nChapter 2: The Government Securities Market\n\nWartime Interest Rate Ceilings\nFrom the End of the War to the End of 1949\nBill Auctions\nCash Subscription Offerings\nExchange Offerings\nAn Example\nThe Secondary Market\nThe Postwar Secondary Market\nThe Role of Dealers in Primary Market Offerings\n\n\nChapter 3: Reserves\, Reserve Requirements\, and Reserves Management\n\nReserve Requirements\n\nDemand Deposits\n\n\nReserves in Aggregate\nThe Inter-Bank Market for Federal Funds\nReserves Management\nAppendix: Treasury Cash Management\nAppendix: Identifying the Sources and Uses of Reserves\n\n\nChapter 4: The Institutional Framework of Open Market Operations\n\nThe Recognized Dealer Program\n\nFormalization of the Recognized Dealer Program\n\n\nAdvent of the Qualified Dealer Program\n\nRevising the Institutional Framework of Open Market Operations\nImplementing the Revised Framework\nThe Qualified Dealer Program at the End of the 1940s\n\n\nAppendix: Orderly Markets\n\nA Reexamination\n\n\n\n\n\n\nPart II: The Accord and Its Aftermath\n\nChapter 5: The Accord\n\nRun-Up to the Accord\nThe Accord\n\nThe Nomarketable Bond Offering\n\n\nAfter the Accord\n\n\nChapter 6: Taking Stock\n\nThe New York Reserve Bank Study\n\nThe Existing Framework\nProspects for Fundamental Change\n\nAn Exchange Market\nDirect Trading by Federal Reserve Banks\nReliance on Nonmarketable Long-Term Debt\n\n\nProspects for More Modest Changes\n\nExpanding the Number of Qualified Dealers\n\n\nRelations between the System and the Treasury\nSumming Up\n\n\nThe Ad Hoc Subcommittee Study\n\nSystem Intervention\n\nBills Preferably\nTreasury Financings\n\n\nDealer Qualification Requirements\nMarket Intelligence\n\n\n\n\nChapter 7: New Directions\n\nMarket Intervention\nDealer Relations\n\nMarket Intelligence\n\n\nSubsequent Actions\n\nThe End of the Qualified Dealer Program\nPublicizing the New Restrictions on Market Intervention\n\n\n\n\nChapter 8: Challenging the New Restrictions\n\nThe April 1953 Bond Offering\nThe Mid-May Executive Committee Meetings\n\nThe May 6 Meeting\nThe May 13 Meeting\nSystem Open Market Account Activity and Reserve Availability in May\n\n\nBreakdown and Intervention\nRevisiting the Restrictions on Intervention\n\nReimposition\n\n\nThe Controversy Becomes Public\n\n\nChapter 9: An Additional Limitation on the Conduct of Open Market Operations\n\nA Swap Authorization\nPushback\nRound Two\n\n\n\n\n\n\n2026-08-04 — 2:00pm EDT\n\nIn our second of five sessions\, we discuss Part 3 of After the Accord by Kenneth Garbade. \n\nPart III: The New Regime\n\nChapter 10: Monetary Policy in 1954\n\nMonitoring Economic Activity\nMonetary Policy\n\nThe Directives\nThe Minutes\n\n\nCaveats\n\n\nChapter 11: Policy Instruments for Reserves Management\n\nOutright Purchases and Sales of Treasury Bills\nRepurchase Agreements on Short-Term Treasury Securities\n\nRepurchase Agreements before the Accord\nPostwar Reinstatement\nLinking the Floor on Repo Rates to the Treasury Bill Rate Instead of the Discount Rate\nConsequences of the Accord\nRepurchase Agreements in 1954\nRobertson’s Resistance to System Repurchase Agreements\nThe Opening Round\nRobertson’s Critique\nA Proposal\nReconciliation\nSubsequent Events\n\n\n\n\nChapter 12: Monetary Policy in 1955\n\nFOMC Directives\nMoney Market Indicators\nTreasury Offerings of Coupon-Bearing Debt\n\nAttrition on Exchange Offerings\nMaintaining an Even Keel\n\n\nDefensive Operations\n\nWhen Reserves Needed to Be Drained\nTwo Work-Arounds\n\n\n\n\nChapter 13: Pragmatism in the Accommodation of Treasury Offerings\n\nRepurchase Agreements on Rights\nIntervention\nIntervention by Another Name\n\n\nChapter 14: 1956 and 1957\n\nDefensive Operations\n\nCurrency\nFloat\nTreasury Balances at Federal Reserve Banks\nForecasting Errors\n\n\nAccommodating Treasury Offerings\n\nThe May 1957 Refunding\nSubsequent Offerings in 1957\n\n\nThe Continuing Importance of Repurchase Agreements\n\n\n\n\n\n\n2026-08-11 — 2:00pm EDT\n\nIn our third of five sessions\, we discuss Parts 4 and 5 of After the Accord by Kenneth Garbade. \n\nPart IV: Summer 1958 and Its Consequences\n\nChapter 15: The Summer 1958 Treasury Financings\n\nAn Overview of 1958\nRun-Up to the June Financing\nThe June Financing\n\nResults of the Financing\n\n\nThe Aftermath of the June Financing\n\nThe Treasury Enters the Market\nTrading on July 8\nTreasury Reveals Its Purchases\n\n\nIraq and Lebanon\nThe July Refunding\n\nFriday\, July 18\nThe Subscription Period (Monday\, July 21 to Wednesday\, July 23)\nDenouement\n\n\nAftermath to the July Refunding\n\n\nChapter 16: Innovations in Treasury Debt Management\n\nA Need for Change\n\nTreasury Issuance of Coupon-Bearing Debt from 1953 to 1958\nGaines’s Critique\nTreasury Bills – A Bright Spot\nFriedman’s Recommendations\n\n\nTreasury’s Innovations\n\nIssuing and Redeeming Coupon-Bearing Debt on a Regular Schedule\nTwenty-Six-Week Bills\nCash Refundings\nThe Problem of SOMA Reinvestments\nAdvance Refundings\nWhy the Treasury Declined to Extend the Auction Process to Coupon-Bearing Securities\n\n\n\n\nChapter 17: The Treasury-Federal Reserve Study of the Government Securities Market\n\nMarket Statistics\n\nAdvent of the Reporting Dealer Program\n\nInitial Discussions\nA Joint Staff Proposal\nImplementation\n\n\n\n\nDealer Finance\nProspects for a Dealer Association\n\n\n\n\nPart V: The End of Bills Preferably\n\nChapter 18: The 1958-1960 Gold Drain\n\nGold in the International Payments System\nThe London Gold Market\nThe Place of Gold in FOMC Deliberations\nThe Break-out of London Gold Prices\nThe Place of Gold in FOMC Deliberations After the Break-out\nContemplating the Future\n\n\nChapter 19: Operation Twist\n\nHow Economists Viewed the Term Structure of Interest Rates\nThe February 7 Executive Session of the Federal Open Market Committee\nConducting Open Market Operations in Longer-Term Securities\nWhat\, Exactly\, Were the Objectives of the New Program?\nDisengagement?\nThe Scale of Open Market Operations in Longer-Term Securities\nAbandoning the 1953 Operating Principles\nOperation Twist After 1961\n\nNew Policy Instruments\nNew Empirical Evidence\n\n\nThe End of $35 Gold\n\n\n\n\n\n\n2026-08-18 — 2:00pm EDT\n\nIn our fourth of five sessions\, we discuss Parts 6 and 7 of After the Accord by Kenneth Garbade. \n\nPart VI: The 1960s\n\nChapter 20: Treasury Debt Management in the 1960s\n\nSecular Variation of Marketable Debt\nTreasury Bills\n\nRegular Bills\nBill Strips\nTax Anticipation Bills\n\n\nCertificates\, Notes\, and Bonds\n\nMid-Quarter Refundings\nStand-Alone Offerings for New Money\nAdvance Refundings\n\nAdvance Refundings after Mid-1965\n\n\n\n\nThe Two Worlds of Treasury Finance\n\nAn Experiment in Auctioning Bonds\n\n\n\n\nChapter 21: Monetary Policy in the 1960s\n\n1961 to 1965\n1966\n\nThe August Money Panic\n\n\n\n\nChapter 22: Repurchase Agreements in the 1960s\n\nSystem Access to Repo Collateral\n\nRelaxing the Two-Year Maturity Limit\nEliminating the Two-Year Maturity Limit and Permitting Back-to-Back Repos\nSystem Repos on Agency Collateral\n\n\nMatched Sale-Purchase Agreements\nAn Unsuccessful Effort to Introduce More Flexible Repo Pricing\n\n\n\n\nPart VII: Updating Market Infrastructures: The Joint Study\n\nChapter 23: The Association of Primary Dealers\n\nArrivals and Departures\nFederal Reserve and Treasury Thinking About a Dealer Association\nPrecipitating Events\nFormation of the Association of Primary Dealers\n\n\nChapter 24: Dealer Finance\n\nDealer Finance and the Role of Money Market Banks as Residual Lenders\nRecommendations of the Joint Study Steering Committee\nResponse of the Federal Open Market Committee\n\n\nChapter 25: The Government Securities Clearing Arrangement\n\nSettling Transactions in Treasury Securities Before 1965\n\nIntracity Settlements\nCPD Settlement\n\n\nOrigins of the Clearing Arrangement\nThe Pilot Program\nIntracity Transfers\nBalancing the Demands of Competing Settlement Systems\nRemarks\n\n\nChapter 26: Securities Lending\n\nThe Impetus for a Federal Reserve Securities Lending Program\nThe Joint Study Proposal\n\nThe Staff Study\nDiscussion by the Steering Committee\nThe FOMC Response\n\n\nThe 1969 Fails Crisis\nThe FOMC Revisits Securities Lending\nWhether to Lend Against Short Sales\n\n\nChapter 27: The Book-Entry System\, Part I\n\nOrigins of the Book-Entry System\nIssues in Creating a Book-Entry System\nThe First Implementation\nThe Second Implementation\nWhat Remained to be Done\n\n\n\n\n\n\n2026-08-25 — 2:00pm EDT\n\nIn our last of five sessions\, we discuss Parts 8 and 9 of After the Accord by Kenneth Garbade. \n\nPart VIII: The 1970s\n\nChapter 28: Treasury Debt Management in the 1970s\n\nMarketable Treasury Debt in the 1970s\n\nRegular Bills\nThirteen- and Twenty-Six-Week Bills\nNine-Month Bills and One-Year Bills\nBill Strips\nIrregular Bills\nNotes and Bonds\nAverage Maturity\n\n\nThe Introduction of Treasury Note and Bond Auctions\n\nThe May 1970 Refunding\nThe First Auction\nSubsequent Auction Offerings of Notes and Bonds\nConsequences of Bond Auctions for Advance Refundings\nFine-Tuning the Auction Process\n\nA Failed Auction and the Advent of Yield Auctions\nThe End of Single-Price Auctions\n\n\nA Last Harrah for Fixed-Price Offerings\n\n\nThe Advent of Regular and Predictable Note and Bond Offerings\n\nThe Introduction of Two-Year Cycle Notes\nExtending Regular and Predictable Issuance to Intermediate-Term Notes\nMid-Quarter Refundings and Fifteen-Year Bonds\n\n\nA Recapitulation of Treasury Debt Management Innovations in the 1970s\n\n\nChapter 29: Monetary Policy in the 1970s\n\n1970-1971\n1972-1973\n1974-1979\nFluctuations in Autonomous Factors\n\nTreasury Deposits at Federal Reserve Banks\nFloat\nBank Borrowing at the Discount Window\n\n\nThe End (Sort of) of Even Keel\n\n\nChapter 30: Open Market Operations in the 1970s\n\nThe Operating Environment\n\nTreasury Cash Management\n\n\nThe Continuing Problem with Liquidity\n\nCompetitive Repo Pricing\nSystem Repos with Bank Dealers\nAnother Way Around the Barn\n\n\nOutright Transactions in Federal Agency Debt\n\nReconsideration\nSubsequent Events\n\n\n\n\n\n\nPart IX: Infrastructure in the 1970s\n\nChapter 31: The Secondary Market in the 1970s\n\nPrimary Dealers\nThe Interdealer Broker Market\n\nManaging the Risks of Blind Brokerage\nSeparating Reporting Dealer Status from Primary Dealer Status\n\n\nThe Rise of Screen Brokers\n\n\nChapter 32: The Book-Entry System\, Part II\n\nThe Insurance Crisis\nExpansion of the Book-Entry System\nConfronting the Limits of Technology\nThe End of the GSCA and the End of Definitive Securities\n\n\nChapter 33: Coda\n\nInitial Actions\n\nThe 1953 Operating Principles\nEven Keeling\n\n\nA Metaphor for Change\nTreasury Debt Management\n\nAuctions of Coupon-Bearing Debt\n\n\nOpen Market Operations\nFailed and Supplanted Initiatives\nInter-Agency Accommodations\n\nOperation Twist\nTreasury Cash Management\nCash Management Bills\n\n\nMarket Infrastructure\n\nGovernment Securities Clearing Arrangement\nBook-Entry II\nSecurities Lending\nThe Association of Primary Dealers in US Government Securities\n\n\nRecapitulation\n\n\nChapter 34: After 1979\n\nTreasury Debt Management\n\nNew Securities\nAuction Innovations\n\n\nMarket Infrastructure\n\nDrysdale\nESM and Bevill\, Bresler\nThe Government Securities Clearing Corporation\nAccess to the Interdealer Broker Market\n\n\n\n\n\n\n\n\nFuture Suggested Readings\n\n\nHow a Ledger Became a Central Bank: A Monetary History of the Bank of Amsterdam by Quinn and Roberds (2023)\nThe Almighty Dollar: 500 Years of the World’s Most Powerful Money by Brendan Greeley (2026)\nWell Worth Saving: How the New Deal Safeguarded Home Ownership by Fishback\, Rose\, and Snowden (2013)\nSlapped by the Invisible Hand: The Panic of 2007 by Gary Gorton (2010)\nThe House of Morgan by Ron Chernow (1990)\nA Study of Money Flows in the United States by Morris Copeland (1952)\nA History of the Greenbacks by Wesley Clair Mitchell (1903)\nCalming the Storms: The Carry Trade\, the Banking School and British Financial Crises Since 1825 by Charles Read (2023)\nBenjamin Strong: Central Banker by Lester V. Chandler (1958)\nAn Engine\, Not a Camera: How Financial Models Shape Markets by Donald MacKenzie (2007)\nCurrency and Credit (4e) by Ralph Hawtrey (1950)\nThe Golden Age of the Quantity Theory by David Laidler (1991)\nCapitalizing on Crisis: The Political Origins of the Rise of Finance by Greta Krippner (2011)\nThe Federal Reserve System by Paul Warburg (1930)\nCentral Bank Capitalism: Monetary Policy in Times of Crisis by Joscha Wullweber (2024)\nIntroduction to Central Banking by Ulrich Bindseil and Alessio Fota (2021)\nThe Chairman: John J. McCloy & The Making of the American Establishment by Kai Bird (1992)\nManias\, Panics\, and Crashes (8e) by Robert McCauley (2023)\nThe Bailout State: Why Governments Rescue Banks\, Not People by Martijn Konings (2025)\n\n\nPast Readings with Discussion Recordings\n\n\nMinsky by Daniel H. Neilson (2019)\n2021-03-24 — Discussion Session 1\n2021-03-31 — Discussion Session 2\n2021-04-07 — Discussion with Daniel Neilson\nThe Art of Central Banking (Chapter IV) by Ralph Hawtrey (1933)\n2021-04-21 — Discussion Session 1\n2021-05-05 — Discussion Session 2\n2021-05-26 — Discussion with David Glasner\nMaking Money: Coin\, Currency\, and the Coming of Capitalism by Christine Desan (2014)\n2021-06-02 — Discussion Session 1\n2021-06-16 — Discussion Session 2\n2021-06-30 — Discussion Session 3\n2021-07-14 — Discussion with Christine Desan\nMoney in a Theory of Finance by John G. Gurley\, Edward S. Shaw (1960)\n2021-07-21 — Discussion Session 1\n2021-08-04 — Discussion Session 2\n2021-08-18 — Discussion Session 3\nThe World in Depression\, 1929-1939 by Charles P. Kindleberger (1973)\n2021-09-01 — Discussion Session 1\n2021-09-15 — Discussion Session 2\n2021-09-29 — Discussion Session 3\nThe Rise of Carry by Jamie Lee et al (2019)\n2021-10-13 — Discussion Session 1\n2021-10-27 — Discussion Session 2\nThe Money Interest and the Public Interest by Perry Mehrling (1998)\n2021-11-10 — Discussion Session 1 | Allyn Young\n2021-11-24 — Discussion Session 2 | Alvin Hanson\n2021-12-08 — Discussion Session 3 | Edward Shaw\nControlling Credit by Eric Monnet (2018)\n2022-01-05 — Discussion Session 1\n2022-01-19 — Discussion Session 2\nThe Menace of Fiscal QE by George Selgin (2020)\n2022-02-02 — Discussion Session\nThe New Lombard Street by Perry Mehrling (2011)\n2022-02-23 — Discussion Session 1\n2022-03-09 — Discussion Session 2\n2022-03-23 — Discussion Session 3\nFighting Financial Crises: Learning from the Past by Gary Gorton\, Ellis Tallman (2021)\n2022-04-20 — Discussion Session 1\n2022-05-11 — Discussion Session 2\nMoney and empire: The international gold standard\, 1890-1914 by Marcello De Cecco (1974)\n2022-05-25 — Discussion Session 1\n2022-06-15 — Discussion Session 2\nCentral Bank Cooperation 1924-31 by Stephen Clarke (1967)\n2022-06-22 — Discussion Session 1\n2022-07-06 — Discussion Session 2\nThe Money Problem: Rethinking Financial Regulation by Morgan Ricks (2016)\n2022-07-27 — Discussion Session 1\n2022-08-10 — Discussion Session 2\n2022-08-17 — Discussion with Morgan Ricks\nThe Evolution of Central Banking: Theory and History by Stefano Ugolini (2017)\n2022-08-24 — Discussion Session 1\n2022-09-07 — Discussion Session 2\n2022-09-21 — Discussion Session 3\n2022-10-05 — Discussion with Stefano Ugolini\nA Financial History of Western Europe by Charles P. Kindleberger (1984\, 1993)\n2022-10-19 — Discussion Session 1 | Part 1: Money\n2022-11-02 — Discussion Session 2 | Part 2: Banking\n2022-11-16 — Discussion Session 3 | Part 3: Finance\n2023-01-11 — Discussion Session 4 | Part 4: The Interwar Period\n2023-01-18 — Discussion Session 5 | Part 5: After World War II\nMoney and Empire: Charles P. Kindleberger and the Dollar System by Perry Mehrling (2022)\n2022-11-30 — Discussion Session 1 | Part 1: Intellectual Formation\, 1910–1948\n2022-12-14 — Discussion Session 2 | Part 2: International Economist\, 1948–1976\n2022-12-21 — Discussion Session 3 | Part 3: Historical Economist\, 1976–2003\n2022-12-21 — Discussion #1 with Perry Mehrling\n2023-01-04 — Discussion #2 with Perry Mehrling\nBonds without Borders: A History of the Eurobond Market by Chris O’Malley (2015)\n2023-02-15 — Discussion Session 1\n2023-03-01 — Discussion Session 2\nMonetary Policy Operations and the Financial System by Ulrich Bindseil (2014)\n2023-03-15 — Discussion Session 1 (Ch 1-8)\n2023-03-29 — Discussion Session 2 (Ch 9-12)\n2023-04-12 — Discussion Session 3 (Ch 13-18)\nCapital Wars: The Rise of Global Liquidity by Michael J. Howell (2020)\n2023-04-26 — Discussion Session 1 (Ch 1-7)\n2023-05-10 — Discussion Session 2 (Ch 8-14)\nA Market Theory of Money by John Hicks (1989)\n2023-05-24 — Discussion Session 1 (Ch 1-7)\n2023-06-07 — Discussion Session 2 (Ch 8-15)\nThe Currency of Politics: The Political Theory of Money from Aristotle to Keynes by Stefan Eich (2022)\n2023-06-28 — Discussion Session 1 (Ch 1 & 2)\n2023-07-19 — Discussion Session 2 (Ch 3 & 4)\n2023-08-02 — Discussion Session 3 (Ch 5 & 6)\n2023-08-14 — Discussion with Stefan Eich\nFischer Black and the Revolutionary Idea of Finance by Perry Mehrling (2005)\n2023-08-22 — Discussion Session 1 (Ch 1–5)\n2023-09-05 — Discussion Session 2 (Ch 6–8)\n2023-09-19 — Discussion Session 3 (Ch 9–11)\n2023-09-26 — Discussion with Perry Mehrling\nThe Evolution of Central Banks by Charles Goodhart (1988)\n2023-10-03 — Discussion Session 1 (Ch 1–6)\n2023-10-17 — Discussion Session 2 (Ch 7–8\, Appendix)\nThe Repo Market: Shorts\, Shortages\, and Squeezes by Scott Skyrm (2023)\n2023-11-07 — Discussion Session 1 (pages 1–92)\n2023-11-21 — Discussion Session 2 (pages 93–186)\n2023-12-05 — Discussion Session 3 (pages 187–310) Part 1 — Part 2\n2023-12-12 — Discussion with Scott Skyrm From 39:20\nThe Volatility Machine: Emerging Economies and the Threat of Financial Collapse by Michael Pettis (2001)\n2023-12-19 — Discussion Session 1 (Ch 1–5)\n2024-01-02 — Discussion Session 2 (Ch 6–10)\n2024-01-09 — Discussion with Michael Pettis\nInternational Capital Movements by Charles P. Kindleberger (1987)\n2024-01-16 — Discussion Session 1 (Ch 1 & 2)\n2024-01-30 — Discussion Session 2 (Ch 3 & 4)\nA Political Theory of Money by Anush Kapadia (2024)\n2024-02-20 — Discussion Session 1 (Ch 1–4)\n2024-03-05 — Discussion Session 2 (Ch 5–7)\n2024-03-19 — Discussion Session 3 (Ch 8–12)\n2024-03-26 — Discussion with Anush Kapadia\nThe Rise of Central Banks: State Power in Financial Capitalism by Leon Wansleben (2023)\n2024-04-02 — Discussion Session 1 (Ch 1–3)\n2024-04-23 — Discussion Session 2 (Ch 4–6)\n2024-05-07 — Discussion with Leon Wansleben\nThe Money Illusion: Market Monetarism\, the Great Recession\, and the Future of Monetary Policy by Scott Sumner (2021)\n2024-05-14 — Discussion Session 1 (Parts 1 & 2)\n2024-05-28 — Discussion Session 2 (Parts 3 & 4)\n2024-06-18 — Discussion Session 3 (Parts 5 & 6)\n2024-06-25 — Discussion with Scott Sumner\nPrivate Money and Public Currencies: The Sixteenth Century Challenge: The Sixteenth Century Challenge by Boyer-Xambeu\, Deleplace\, and Gillard (1994)\n2024-07-02 — Discussion Session 1 (Ch 1–3)\n2024-07-16 — Discussion Session 2 (Ch 4 & 5)\n2024-07-30 — Discussion Session 3 (Ch 6\, 7 & Conclusion)\nThe Arena of International Finance by Charles A. Coombs (1976)\n2024-08-13 — Discussion Session 1 (Ch 1ー6)\n2024-08-27 — Discussion Session 2 (Ch 7–12)\nThe Bill on London: or The Finance of Trade by Bills of Exchange by Gillett Brothers (1952/1976)\n2024-09-17 — Discussion Session\nBirth of a Market: The U.S. Treasury Securities Market from the Great War to the Great Depression by Kenneth D. Garbade (2012)\n2024-10-01 — Discussion Session 1 (Ch 1–10)\n2024-10-15 — Discussion Session 2 (Ch 11–15)\n2024-10-29 — Discussion Session 3 (Ch 16–24)\nA Monetary and Fiscal History of the United States\, 1961–2021 by Alan S. Blinder (2022)\n2024-11-12 — Discussion Session 1 (Ch 1–7)\n2024-11-26 — Discussion Session 2 (Ch 8–13)\n2024-12-10 — Discussion Session 3 (Ch 14–19)\nBuilding a Ruin: The Cold War Politics of Soviet Economic Reform by Yakov Feygin (2024)\n2025-01-07 — Discussion Session 1 (Ch 1–3)\n2025-01-21 — Discussion Session 2 (Ch 4–6)\n2025-02-04 — Discussion Session 3 (Ch 7 & Afterword)\nA Crash Course on Crises: Macroeconomic Concepts for Run-Ups\, Collapses\, and Recoveries by Markus K. Brunnermeier and Ricardo Reis (2023)\n2025-02-25 — Discussion Session 1 (Parts 1 and 2)\n2025-03-11 — Discussion Session 2 (Parts 3 and 4)\nThe Empire of Value: A New Foundation for Economics by Andre Orlean (2014)\n2025-03-25 — Discussion Session 1 (Introduction and Part 1) Part 1 — Part 2\n2025-04-08 — Discussion Session 2 (Parts 2 and 3)\n2025-04-22 — Discussion Session 3 (Part 4 and Conclusion)\nThe Wheels of Commerce by Fernand Braudel (1979/1982)\n2025-05-06 — Discussion Session 1 (Chapter 1)\n2025-05-13 — Discussion Session 2 (Chapter 2)\n2025-05-20 — Discussion Session 3 (Chapter 3)\n2025-05-27 — Discussion Session 4 (Chapter 4)\n2025-06-03 — Discussion Session 5 (Chapter 5)\nBeyond Banks: Technology\, Regulation\, and the Future of Money by Dan Awrey (2024)\n2025-06-17 — Discussion Session 1 (Intro & Ch 1–3)\n2025-07-01 — Discussion Session 5 (Ch 4–7 & Conclusion)\n2025-07-08 — Discussion with Dan Awrey\nOur Dollar\, Your Problem: An Insider’s View of Seven Turbulent Decades of Global Finance by Kenneth Rogoff (2025)\n2025-08-19— Discussion Session 1 (Parts 1-3)\n2025-08-26 — Discussion Session 2 (Parts 4-6)\nCentral Banking Before 1800: A Rehabilitation by Ulrich Bindseil (2019)\n2025-09-01 — Discussion Session 1 (Ch 1&2)\n2025-09-15 — Discussion Session 2 (Ch 3–5)\n2025-09-29 — Discussion Session 3 (Ch 6&7)\n2025-10-13 — Discussion with Ulrich Bindseil\nThe Long Twentieth Century: Money\, Power and the Origins of Our Times by Giovanni Arrighi (2010)\n2025-10-20 — Discussion Session 1 (Ch 1&2)\n2025-11-03 — Discussion Session 2 (Ch 3)\n2025-11-10 — Discussion Session 3 (Ch 4)\nFragile by Design: The Political Origins of Banking Crises and Scarce Credit by Charles W. Calomiris and Stephen Haber (2014)\n2025-11-17 — Discussion Session 1 (Ch 1–5)\n2025-12-01 — Discussion Session 2 (Ch 6-9)\n2025-12-15 — Discussion Session 3 (Ch 10–15)\n2026-01-05 — Discussion with Charles Calomiris\nTreatise on Money by Joseph Schumpeter (1970/2014)\n2026-01-12 — Discussion Session 1 (Ch 1–3)\n2026-01-27 — Discussion Session 2 (Ch 4–7)\n2026-02-10 — Discussion Session 3 (Ch 8–10)\n2026-02-24 — Discussion Session 4 (Ch 11–12)\nBetween Payments and Credit: An Introduction to the IOU Economy by George Pantelopoulos (2025)\n2026-03-10 — Discussion Session 1 (Ch 1–5)\n2026-03-24 — Discussion Session 2 (Ch 6–10)\n2026-04-07 — Discussion Session 3 (Ch 11–13)\n2026-04-14 — Discussion with George Pantelopoulos\nAgainst Money by J. W. Mason and Arjun Jayadev (2026)\n2026-05-05 — Discussion Session 1 (ch 1–4)\n2026-05-12 — Discussion Session 2 (ch 5–7)\n2026-06-12 — Discussion with J.W. Mason\nOur Money: Monetary Policy as if Democracy Matters by Leah Downey (2025)\n2026-06-02 — Discussion Session 1 (Ch 1–3)\n2026-06-16 — Discussion Session 2 (Ch 4–8)\nThe History of Money: A Story of Humanity by David McWilliams (2024)\n2026-06-23 — Discussion Session 1 (Parts 1 & 2)\n2026-07-07 — Discussion Session 2 (Parts 3–5)\n\n\nOff-Week Sessions\n\n2021-05-19 BIS Working Paper: Breaking free of the triple coincidence in international finance (2015)\n2021-07-07 Global Domain of the Dollar: 8 Questions by Robert McCauley Author Discussion\n2021-07-28 BIS and Bank of England reports on Central Bank Digital Currencies\n2022-09-28 The Crypto Banking System by Sébastien Derivaux (2022) Author Discussion\n2023-04-05 Discussion of Silicon Valley Bank\n2023-04-19 Institutional Cash Pools by Zoltan Pozsar (2011)\n2023-05-03 BIS Bulletin #73: Stablecoins vs. Tokenized Deposits (May 3\, 2023)\n2023-07-05 The Credit–Money Hierarchy: a Republican \, Egalitarian Appraisal by Aaron James (2023)\n2023-07-26 Public Purpose Finance: The Government’s Role as Lender by Nadav Orian Peer (2020) Author Discussion 2023-10-24 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 1\n2023-10-31 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 2\n2023-11-14 ICMA Repo FAQ by Richard Comotto (2013/2019)\n2023-11-28 Basis Trades and Treasury Market Illiquidity by Daniel Barth & Jay Kahn (2020)\n2024-01-23 Capital flows and the current account by Borio and Disyatat (2015)\n2024-02-13 The dual currency system of Renaissance Europe by Luca Fantacci (2008)\n2024-02-27 BIS: Buy now\, pay later: a cross-country analysis by Cornelli et al. (2023)\n2024-03-12 The non-use of money in the Middle Ages by Bell\, Brooks\, and Moore (2017)\n2024-04-09 The Central Role of Credit Crunches in Recent Financial History by Albert M. Wojnilower (1980)\n2024-04-16 Measuring Equilibrium in the Balance of Payments by Charles P. Kindleberger (1969)\n2024-04-30 The Rise and Risks of Private Credit — GFSR (April\, 2024)\n2024-06-04 BIS Working Paper No 1100: Getting up from the floor by Claudio Borio (May\, 2023)\n2024-06-11 The Offshore Dollar and US Policy by Robert McCauley (May\, 2024)\n2024-07-09 The (impossible) repo trinity: the political economy of repo markets by Daniela Gabor (2016)\n2024-08-07 A Safe Haven for Hidden Risks (May 30\, 2024) and Rate Transformation (November 4\, 2023) by Elham Saeidinezhad\n2024-08-20 The Collateral Supply Effect on Central Bank Policy by Carolyn Sissoko (2020)\n2024-09-10 Monetary Policy Implications of Market Maker of Last Resort Operations by Anil K Kashyap (August 23\, 2024)\n2024-11-05 BIS Bulletin No 90: The market turbulence and carry trade unwind of August 2024 (August 27\, 2024)\n2024-11-19 Yen Carry Trade and the Subprime Crisis by Masazumi Hattori and Hyun Song Shin (2009)\n2024-12-03 After the Allocation: What Role for the Special Drawing Rights System? by Pforr\, Pape\, and Murau (2022)\n2025-01-14 Where Profits Come From by the Levy Forecasting Center by Levy\, Farnham\, & Rajan (2008/1997)\n2025-01-28 The Broad Consequences of Narrow Banking by Matheus R. Grasseli and Alexander Lipton (2019)\n2025-02-11 Failing Banks by Sergio Correia\, Stephen Luck\, and Emil Verner (2024)\n2025-02-18 Odd Lots — The Hidden History of Eurodollars by Lev Menand and Joshua Younger (January 2025)\n2025-03-04 Of Last Resort: Evaluating the Treasury-Equity Model of Federal Reserve Emergency Lending by Steven Kelly (2024)\n2025-03-18 Commercial Banking and Capital Formation I–IV by Harold Moulton (1918)\n2025-04-01 Climate Alignment For Banks: The Stories That Numbers Tell by Nadav Orian Peer (2025) Author Discussion\n2025-04-15 Shadow Banking: Why Modern Money Markets are Less Stable Than 19th c. Money Markets But Shouldn’t Be Stabilized by a ‘Dealer of Last Resort’ by Carolyn Sissoko (2014)\n2025-04-29 Treasury Market and the Basis Trade (Adrian et al. 2025; Kashyap et al. 2025)\n2025-06-10 Structural Changes in the Global Financial System lecture by Hyun Song Shin (May 19\, 2025)\n2025-06-24 International Regimes\, Transactions\, and Change: Embedded Liberalism in the Postwar Economic Order by John Gerard Ruggie (1982)\n2025-07-15 BIS Annual Report Chapter: Financial conditions in a changing global financial system (2025)\n2025-07-22 Banks Are Intermediaries of Loanable Funds by George Selgin (2024)\n2025-07-29 Theorising non-bank financial intermediation by Jo Michell (2024)\n2025-08-05 Banks are different: why bank-based versus market-based lending is a false dichotomy by Carolyn Sissoko (2024)\n2025-09-08 Did France Cause the Great Depression? by Douglas A. Irwin (2010)\n2025-09-22 Rethinking Monetary Sovereignty: The Global Credit Money System and the State by Murau and van’t Klooster (2023)\n2025-10-06 Rethinking currency internationalisation: offshore money creation and the EU’s monetary governance by Murau and van’t Klooster (2025)\n2025-10-27 BIS Bulletin No 114: “Financial channel implications of a weaker dollar for emerging market economies” by Juselius\, Wooldridge and Xia (October 13\, 2025)\n2025-11-24 Bubble or Nothing: Data Center Project Finance by Advait Arun (November 12\, 2025)\n2025-12-08 Discussion of Debate over Whether Money Multiplier Requires Cash Lending\n2026-01-20 Gresham’s Law by Charles P. Kindleberger (1989)\n2026-02-03 The Law of One Price by Charles P. Kindleberger (1989)\n2026-02-17 Bank Runs With and Without Bank Failures by Correia\, Luck\, and Verner (2026)\n2026-03-03 Monetary Experience and the Theory of Money by John Hicks (1977)\n2026-03-31 What Is Money (1913) and The Credit Theory of Money (1914) by A. Mitchell-Innes\n2026-04-21 Covered interest parity lost: understanding the cross-currency basis by Borio et al. (2016)\n2026-04-28 Decoupling Dollar and Treasury Privilege by Du\, Keerati\, and Schreger (2025)\n2026-06-30 FEDS Note: Decomposing Hedge Funds’ U.S. Treasury Exposures by Phillip J. Monin (June 22\, 2026)\n2026-07-14 The Chicago Plan Revisited by Benes and Kumhof (2012)
URL:https://heske.wisdmlabs.net/event/money-view-reading-group/2026-08-25/
CATEGORIES:A series of zooms
ATTACH;FMTTYPE=image/png:https://heske.wisdmlabs.net/wp-content/uploads/2023/12/lecture2-p4x2-hierarchy-pyramid-dynamics.png
LOCATION:https://heske.wisdmlabs.net/event/money-view-reading-group/2026-08-25/
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Paris:20260827T180000
DTEND;TZID=Europe/Paris:20260827T193000
DTSTAMP:20260714T162704Z
CREATED:20240117T145948Z
LAST-MODIFIED:20260714T162704Z
UID:10007968-1787853600-1787859000@heske.wisdmlabs.net
SUMMARY:Money and Finance Reading Group
DESCRIPTION:This reading group has been created to amplify and deep our knowledge on money and finance from a wide perspective that can embrace the complexity of money’s nature\, thus\, the complexity of the financial system and its dynamics. Moreover\, as it was cleverly unveiled by Émile Zola in his book L’Argent\, the first book discussed in this reading group\, money and finance are rooted in every sphere of human beings (social\, political\, religious\, personal\, etc.)\, therefore\, their inquiring and comprehension cannot neglect this this reality. \nThe reading group started with an initial selection of books proposed by Professor Jan Toporowski\, however\, the path we will walk together will be opened and determined by the interests and tastes of the group members. \nList of Readings: \nZola Émile\, L’Argent\, 1891      Discussed \nSchumpeter\, J.A.S. History of Economic Analysis\, Chapter 8 on ‘Money\, Credit and Cycles’.  This chapter will be divided in two sessions. The first session will be on 25/01/24 and include sections 1 – 5 (From page 1040 to page 1074)\, the second will be on 29/02/2024 and include sections 6 – 9 (From page 1074 to page 1101). Discussed \nDiscussion of Schumpeter’s Chapter with the contribution of Professor Jan Toporowski. Discussed \nChick\, V. ‘The Evolution of the Banking System and the Theory of Saving\, Investment and Interest’ Économies et Sociétés Série MP no. 3 1986 and Arestis and Dow (eds.) On Money\, Method and Keynes\, Selected Essays of Victoria Chick 1992. Discussed on 11/04/2024 \nFor the last session on Chick’s Paper we will have Sheila Dow. Discussed on 3 May 2023. \nToporowski\, J. Interest and Capital The Monetary Economics of Michał Kalecki Oxford 2022\, Part 1. Discussed on 30/05/2024 \nToporowski\, J. Interest and Capital The Monetary Economics of Michał Kalecki Oxford 2022. Discussed on 05/07/2024 \n\n\n\nToporowski\, J. ‘Marx’s Critical Notes on the Classical Theory of Interest’ in J. Dellheim and F.O. Wolf (eds.) The Unfinished System of Karl Marx Critically Reading Capital as a Challenge to our Times London: Palgrave Macmillan 2018. Discussed on 01/08/2024 \n\n\n\nMarx\, K.H. Grundrisse Chapter 1\, on Money . Discussed on Discussed on 24/10/2024 \nPaper presentation ““Kalecki-Levy Profit Equation and Money View Angles on Chinese Economy and Markets”\, by Shengbei Guo\, on 21/11/2024. \n\n\n\nMarx\, K.H. Capital Volume II Part 1\, Ch 1 and 2\, will be discussed on 26/12/2024. \n\nMarx\, K.H. Capital Volume II Part 1\, Ch 3 to 6\, discussed on 30/01/2025. \nOn Marx’s monetary theory talk given by Riccardo Bellofiore\, retired Professor of Economics at the University of Bergamo\, Italy\, who has authored and co-authored “Theory of Plus-Value”\, “Marx on Money”\, “Production\, Circulation and Money”\, within others. Discussed on 06/03/2025. \nBellofiore\, R.\, ‘The monetary aspects of the capitalist process in the Marxian system: an investigation from the point of view of the theory of the monetary circuit’ in Marx’s Theory of Money: Modern Appraisals 2005. Discussed on 27/03/2025 \nBellofiore\, R. ‘Money and development in Schumpeter’ 1985. Discussed on 24/04/2025 \n\nTalk with Riccardo Bellofiore about the monetary theories of Marx\, the Theory of the Monetary Circuit\, Schumpeter and a bit of Wicksell. To be discussed on 29/05/2025 \nHayek\, F.A. Monetary Theory and the Trade Cycle 1929 Ch 1 and 2. Discussed on 26/06/2025 \nHayek\, F.A. Monetary Theory and the Trade Cycle 1929 Ch 3\, 4 and 5. Discussed on 24/07/2025 \nHawtrey\, R. G. Good and Bad Trade or Currency and Credit 1919. From Ch 1 to  7\, inclusive. To be discussed on 04/09/2025 \nHawtrey\, R. G. Currency and Credit 1930. Ch 3 and 4. To be discussed on 25/09/2025 \nHawtrey\, R. G. Currency and Credit 1930. Ch 5\, 6\, 7 and 8. To be discussed on 30/10/2025 \nHawtrey\, R. G. Currency and Credit 1930. Ch 9\, 10\, 11. To be discussed on 04/12/2025 \nWicksell\, K. Interest and Prices 1936\, Introduction by Bertil Ohlin\, Preface and Introduction (Ch 1) \nWicksell\, K. Interest and Prices 1936\, Ch 2\, 3\, 4\, 5\, 6. \nWicksell\, K. Interest and Prices 1936\, Ch 7\, 8\, 9. \nFriedman\, M. Quantity Theory of Money A Restatement Discussed on 28/05/2026 \nWoodford\, M. Interest and Prices Introduction; Chapters 1 Discussed on 25/06/2026 \nWoodford\, M. Interest and Prices Introduction; Chapters 2-3 To be discussed on 23/07/2026 \nExtraordinary session – Paper Presentation “Equilibra and Steady States: How to Model Modern Monetary Systems” by Aleksandar Stojanovič to be Discussed on 13/08/2-26 \n\n\n  \n\n\n 
URL:https://heske.wisdmlabs.net/event/money-and-finance-reading-group/2026-08-27/
CATEGORIES:A series of zooms
ATTACH;FMTTYPE=image/png:https://heske.wisdmlabs.net/wp-content/uploads/2024/01/Largent.png
LOCATION:https://heske.wisdmlabs.net/event/money-and-finance-reading-group/2026-08-27/
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=America/Sao_Paulo:20260831T100000
DTEND;TZID=America/Sao_Paulo:20260904T170000
DTSTAMP:20260508T190808Z
CREATED:20260508T190808Z
LAST-MODIFIED:20260508T190808Z
UID:10008513-1788170400-1788541200@heske.wisdmlabs.net
SUMMARY:YSI @ AKB 2026 | How can we rethink development pathways in the face of growing inequalities?
DESCRIPTION:The Brazilian Keynesian Association is proud to announce its 18th Conference\, gathering heterodox economists in Brazil. Centered on the theme “Building Equitable Societies: Development\, Sustainability\, and Inclusion”\, the event will explore new development pathways to address growing inequalities. During the event\, our keynote speaker will discuss the congress theme\, seeking to rethink development trajectories in light of increasing social\, economic\, and environmental inequalities. In addition\, the event will feature a Pre-Conference School aimed at young scholars. This special session seeks to empower emerging scholars by revisiting original texts in order to address contemporary economic challenges. \nThe event will take place from August 30 to September 4\, 2026\, at the Universidade Federal de Sergipe (UFS)\, in Aracaju\, Brazil. YSI will provide partial financial support to selected participants. \nInterested individuals may register for the conference through this link. The deadline for paper submission is May 17\, 2026. Some students with accepted papers will be selected to receive partial support for travel expenses. \nWe look forward to seeing you there! \n\n\n\n\n\n\n[Português] \nA Associação Keynesiana Brasileira tem o orgulho de anunciar seu XVIII Congresso\, o encontro da economia heterodoxa no Brasil. Centrado no tema “ Construindo Sociedades Equitativas: Desenvolvimento\, Sustentabilidade e Inclusão ”\, o evento explorará novos caminhos de desenvolvimento para enfrentar as crescentes desigualdades. Neste evento\, nosso palestrante principal discutirá o tema do congresso\, buscando repensar as trajetórias de desenvolvimento diante das crescentes desigualdades sociais\, econômicas e ambientais. Além disso\, o evento contará com uma Escola Pré-Congresso voltada para jovens pesquisadores. Esta sessão especial visa capacitar jovens pesquisadores\, revisitando o texto original para abordar os desafios econômicos contemporâneos. \nEsta atividade ocorrerá de 30 de agosto a 04 de setembro de 2026 \, na Universidade Federal de Sergipe (UFS)\, em Aracaju\, Brasil . YSI oferecerá auxílio financeiro aos participantes selecionados. \nOs interessados ​​podem se inscrever na conferência através deste link . O prazo final para a submissão do artigo é 17 de maio de 2026. Alguns estudantes com artigos aprovados serão selecionados para receber auxílio parcial para despesas de viagem. \nEsperamos ver você lá!
URL:https://heske.wisdmlabs.net/event/ysi-akb-2026-how-can-we-rethink-development-pathways-in-the-face-of-growing-inequalities/
LOCATION:Federal University of Sergipe\, Aracaju\, Brazil
CATEGORIES:An in-person event
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DTSTART;TZID=America/New_York:20260901T140000
DTEND;TZID=America/New_York:20260901T153000
DTSTAMP:20260717T225613Z
CREATED:20231212T030110Z
LAST-MODIFIED:20260717T225613Z
UID:10008199-1788271200-1788276600@heske.wisdmlabs.net
SUMMARY:Money View Reading Group
DESCRIPTION:The Money View Reading Group reads and discusses writings on money\, banking\, and finance. We are a self-directed group. Anyone interested in money and banking can read the readings\, join us for discussions\, or suggest future readings.\nWe meet for 90 minutes via Zoom on Tuesdays at 2 pm Eastern Time US (New York). \n\nCurrent Book\n\n\nAfter the Accord: A History of Federal Reserve Open Market Operations\, the US Government Securities Market\, and Treasury Debt Management from 1951 to 1979\n\nby Kenneth D. Garbade (2021) \nhttps://www.amazon.com/dp/1108839894/ \nFrom the description \nIn this book Garbade\, a former analyst at a primary dealer and researcher at the Federal Reserve Bank of New York\, traces the evolution of open market operations\, Treasury debt management\, and the microstructure of the US government securities markets following the 1951 Treasury-Federal Reserve. This volume examines how these operations evolved\, responding both to external forces and to one another. Utilising a vast scope of primary material\, the work provides insight into how officials fashioned the instruments\, facilities\, and procedures needed to advance their policy objectives in light of their novel freedoms and responsibilities. \nThis is a big book. As we did with Braudel’s The Wheel’s of Commerce last summer\, we are discussing this book in five back-to-back weekly sessions. \n\nUpcoming Sessions\n\n\n2026-07-21 – 2:00pm EDT\n\nDuring the off week\, we discuss Arthur C. Pigou’s Famous 1917 paper\, “The Value of Money.” \nhttps://www.jstor.org/stable/1885078?seq=1 \n\n2026-07-28 — 2:00pm EDT\n\nIn our first of five sessions\, we discuss Parts 1 and 2 of After the Accord by Kenneth Garbade. \n\nChapter 1: Introduction\n\nOpen Market Operations After the Accord\n\nBills Preferably\nRepurchase Agreements\nOpen Market Operations in Coupon-Bearing Debt\n\n\nTreasury Debt Management After the Accord\n\n\nPart I: The System and the Market in the 1940s\n\nChapter 2: The Government Securities Market\n\nWartime Interest Rate Ceilings\nFrom the End of the War to the End of 1949\nBill Auctions\nCash Subscription Offerings\nExchange Offerings\nAn Example\nThe Secondary Market\nThe Postwar Secondary Market\nThe Role of Dealers in Primary Market Offerings\n\n\nChapter 3: Reserves\, Reserve Requirements\, and Reserves Management\n\nReserve Requirements\n\nDemand Deposits\n\n\nReserves in Aggregate\nThe Inter-Bank Market for Federal Funds\nReserves Management\nAppendix: Treasury Cash Management\nAppendix: Identifying the Sources and Uses of Reserves\n\n\nChapter 4: The Institutional Framework of Open Market Operations\n\nThe Recognized Dealer Program\n\nFormalization of the Recognized Dealer Program\n\n\nAdvent of the Qualified Dealer Program\n\nRevising the Institutional Framework of Open Market Operations\nImplementing the Revised Framework\nThe Qualified Dealer Program at the End of the 1940s\n\n\nAppendix: Orderly Markets\n\nA Reexamination\n\n\n\n\n\n\nPart II: The Accord and Its Aftermath\n\nChapter 5: The Accord\n\nRun-Up to the Accord\nThe Accord\n\nThe Nomarketable Bond Offering\n\n\nAfter the Accord\n\n\nChapter 6: Taking Stock\n\nThe New York Reserve Bank Study\n\nThe Existing Framework\nProspects for Fundamental Change\n\nAn Exchange Market\nDirect Trading by Federal Reserve Banks\nReliance on Nonmarketable Long-Term Debt\n\n\nProspects for More Modest Changes\n\nExpanding the Number of Qualified Dealers\n\n\nRelations between the System and the Treasury\nSumming Up\n\n\nThe Ad Hoc Subcommittee Study\n\nSystem Intervention\n\nBills Preferably\nTreasury Financings\n\n\nDealer Qualification Requirements\nMarket Intelligence\n\n\n\n\nChapter 7: New Directions\n\nMarket Intervention\nDealer Relations\n\nMarket Intelligence\n\n\nSubsequent Actions\n\nThe End of the Qualified Dealer Program\nPublicizing the New Restrictions on Market Intervention\n\n\n\n\nChapter 8: Challenging the New Restrictions\n\nThe April 1953 Bond Offering\nThe Mid-May Executive Committee Meetings\n\nThe May 6 Meeting\nThe May 13 Meeting\nSystem Open Market Account Activity and Reserve Availability in May\n\n\nBreakdown and Intervention\nRevisiting the Restrictions on Intervention\n\nReimposition\n\n\nThe Controversy Becomes Public\n\n\nChapter 9: An Additional Limitation on the Conduct of Open Market Operations\n\nA Swap Authorization\nPushback\nRound Two\n\n\n\n\n\n\n2026-08-04 — 2:00pm EDT\n\nIn our second of five sessions\, we discuss Part 3 of After the Accord by Kenneth Garbade. \n\nPart III: The New Regime\n\nChapter 10: Monetary Policy in 1954\n\nMonitoring Economic Activity\nMonetary Policy\n\nThe Directives\nThe Minutes\n\n\nCaveats\n\n\nChapter 11: Policy Instruments for Reserves Management\n\nOutright Purchases and Sales of Treasury Bills\nRepurchase Agreements on Short-Term Treasury Securities\n\nRepurchase Agreements before the Accord\nPostwar Reinstatement\nLinking the Floor on Repo Rates to the Treasury Bill Rate Instead of the Discount Rate\nConsequences of the Accord\nRepurchase Agreements in 1954\nRobertson’s Resistance to System Repurchase Agreements\nThe Opening Round\nRobertson’s Critique\nA Proposal\nReconciliation\nSubsequent Events\n\n\n\n\nChapter 12: Monetary Policy in 1955\n\nFOMC Directives\nMoney Market Indicators\nTreasury Offerings of Coupon-Bearing Debt\n\nAttrition on Exchange Offerings\nMaintaining an Even Keel\n\n\nDefensive Operations\n\nWhen Reserves Needed to Be Drained\nTwo Work-Arounds\n\n\n\n\nChapter 13: Pragmatism in the Accommodation of Treasury Offerings\n\nRepurchase Agreements on Rights\nIntervention\nIntervention by Another Name\n\n\nChapter 14: 1956 and 1957\n\nDefensive Operations\n\nCurrency\nFloat\nTreasury Balances at Federal Reserve Banks\nForecasting Errors\n\n\nAccommodating Treasury Offerings\n\nThe May 1957 Refunding\nSubsequent Offerings in 1957\n\n\nThe Continuing Importance of Repurchase Agreements\n\n\n\n\n\n\n2026-08-11 — 2:00pm EDT\n\nIn our third of five sessions\, we discuss Parts 4 and 5 of After the Accord by Kenneth Garbade. \n\nPart IV: Summer 1958 and Its Consequences\n\nChapter 15: The Summer 1958 Treasury Financings\n\nAn Overview of 1958\nRun-Up to the June Financing\nThe June Financing\n\nResults of the Financing\n\n\nThe Aftermath of the June Financing\n\nThe Treasury Enters the Market\nTrading on July 8\nTreasury Reveals Its Purchases\n\n\nIraq and Lebanon\nThe July Refunding\n\nFriday\, July 18\nThe Subscription Period (Monday\, July 21 to Wednesday\, July 23)\nDenouement\n\n\nAftermath to the July Refunding\n\n\nChapter 16: Innovations in Treasury Debt Management\n\nA Need for Change\n\nTreasury Issuance of Coupon-Bearing Debt from 1953 to 1958\nGaines’s Critique\nTreasury Bills – A Bright Spot\nFriedman’s Recommendations\n\n\nTreasury’s Innovations\n\nIssuing and Redeeming Coupon-Bearing Debt on a Regular Schedule\nTwenty-Six-Week Bills\nCash Refundings\nThe Problem of SOMA Reinvestments\nAdvance Refundings\nWhy the Treasury Declined to Extend the Auction Process to Coupon-Bearing Securities\n\n\n\n\nChapter 17: The Treasury-Federal Reserve Study of the Government Securities Market\n\nMarket Statistics\n\nAdvent of the Reporting Dealer Program\n\nInitial Discussions\nA Joint Staff Proposal\nImplementation\n\n\n\n\nDealer Finance\nProspects for a Dealer Association\n\n\n\n\nPart V: The End of Bills Preferably\n\nChapter 18: The 1958-1960 Gold Drain\n\nGold in the International Payments System\nThe London Gold Market\nThe Place of Gold in FOMC Deliberations\nThe Break-out of London Gold Prices\nThe Place of Gold in FOMC Deliberations After the Break-out\nContemplating the Future\n\n\nChapter 19: Operation Twist\n\nHow Economists Viewed the Term Structure of Interest Rates\nThe February 7 Executive Session of the Federal Open Market Committee\nConducting Open Market Operations in Longer-Term Securities\nWhat\, Exactly\, Were the Objectives of the New Program?\nDisengagement?\nThe Scale of Open Market Operations in Longer-Term Securities\nAbandoning the 1953 Operating Principles\nOperation Twist After 1961\n\nNew Policy Instruments\nNew Empirical Evidence\n\n\nThe End of $35 Gold\n\n\n\n\n\n\n2026-08-18 — 2:00pm EDT\n\nIn our fourth of five sessions\, we discuss Parts 6 and 7 of After the Accord by Kenneth Garbade. \n\nPart VI: The 1960s\n\nChapter 20: Treasury Debt Management in the 1960s\n\nSecular Variation of Marketable Debt\nTreasury Bills\n\nRegular Bills\nBill Strips\nTax Anticipation Bills\n\n\nCertificates\, Notes\, and Bonds\n\nMid-Quarter Refundings\nStand-Alone Offerings for New Money\nAdvance Refundings\n\nAdvance Refundings after Mid-1965\n\n\n\n\nThe Two Worlds of Treasury Finance\n\nAn Experiment in Auctioning Bonds\n\n\n\n\nChapter 21: Monetary Policy in the 1960s\n\n1961 to 1965\n1966\n\nThe August Money Panic\n\n\n\n\nChapter 22: Repurchase Agreements in the 1960s\n\nSystem Access to Repo Collateral\n\nRelaxing the Two-Year Maturity Limit\nEliminating the Two-Year Maturity Limit and Permitting Back-to-Back Repos\nSystem Repos on Agency Collateral\n\n\nMatched Sale-Purchase Agreements\nAn Unsuccessful Effort to Introduce More Flexible Repo Pricing\n\n\n\n\nPart VII: Updating Market Infrastructures: The Joint Study\n\nChapter 23: The Association of Primary Dealers\n\nArrivals and Departures\nFederal Reserve and Treasury Thinking About a Dealer Association\nPrecipitating Events\nFormation of the Association of Primary Dealers\n\n\nChapter 24: Dealer Finance\n\nDealer Finance and the Role of Money Market Banks as Residual Lenders\nRecommendations of the Joint Study Steering Committee\nResponse of the Federal Open Market Committee\n\n\nChapter 25: The Government Securities Clearing Arrangement\n\nSettling Transactions in Treasury Securities Before 1965\n\nIntracity Settlements\nCPD Settlement\n\n\nOrigins of the Clearing Arrangement\nThe Pilot Program\nIntracity Transfers\nBalancing the Demands of Competing Settlement Systems\nRemarks\n\n\nChapter 26: Securities Lending\n\nThe Impetus for a Federal Reserve Securities Lending Program\nThe Joint Study Proposal\n\nThe Staff Study\nDiscussion by the Steering Committee\nThe FOMC Response\n\n\nThe 1969 Fails Crisis\nThe FOMC Revisits Securities Lending\nWhether to Lend Against Short Sales\n\n\nChapter 27: The Book-Entry System\, Part I\n\nOrigins of the Book-Entry System\nIssues in Creating a Book-Entry System\nThe First Implementation\nThe Second Implementation\nWhat Remained to be Done\n\n\n\n\n\n\n2026-08-25 — 2:00pm EDT\n\nIn our last of five sessions\, we discuss Parts 8 and 9 of After the Accord by Kenneth Garbade. \n\nPart VIII: The 1970s\n\nChapter 28: Treasury Debt Management in the 1970s\n\nMarketable Treasury Debt in the 1970s\n\nRegular Bills\nThirteen- and Twenty-Six-Week Bills\nNine-Month Bills and One-Year Bills\nBill Strips\nIrregular Bills\nNotes and Bonds\nAverage Maturity\n\n\nThe Introduction of Treasury Note and Bond Auctions\n\nThe May 1970 Refunding\nThe First Auction\nSubsequent Auction Offerings of Notes and Bonds\nConsequences of Bond Auctions for Advance Refundings\nFine-Tuning the Auction Process\n\nA Failed Auction and the Advent of Yield Auctions\nThe End of Single-Price Auctions\n\n\nA Last Harrah for Fixed-Price Offerings\n\n\nThe Advent of Regular and Predictable Note and Bond Offerings\n\nThe Introduction of Two-Year Cycle Notes\nExtending Regular and Predictable Issuance to Intermediate-Term Notes\nMid-Quarter Refundings and Fifteen-Year Bonds\n\n\nA Recapitulation of Treasury Debt Management Innovations in the 1970s\n\n\nChapter 29: Monetary Policy in the 1970s\n\n1970-1971\n1972-1973\n1974-1979\nFluctuations in Autonomous Factors\n\nTreasury Deposits at Federal Reserve Banks\nFloat\nBank Borrowing at the Discount Window\n\n\nThe End (Sort of) of Even Keel\n\n\nChapter 30: Open Market Operations in the 1970s\n\nThe Operating Environment\n\nTreasury Cash Management\n\n\nThe Continuing Problem with Liquidity\n\nCompetitive Repo Pricing\nSystem Repos with Bank Dealers\nAnother Way Around the Barn\n\n\nOutright Transactions in Federal Agency Debt\n\nReconsideration\nSubsequent Events\n\n\n\n\n\n\nPart IX: Infrastructure in the 1970s\n\nChapter 31: The Secondary Market in the 1970s\n\nPrimary Dealers\nThe Interdealer Broker Market\n\nManaging the Risks of Blind Brokerage\nSeparating Reporting Dealer Status from Primary Dealer Status\n\n\nThe Rise of Screen Brokers\n\n\nChapter 32: The Book-Entry System\, Part II\n\nThe Insurance Crisis\nExpansion of the Book-Entry System\nConfronting the Limits of Technology\nThe End of the GSCA and the End of Definitive Securities\n\n\nChapter 33: Coda\n\nInitial Actions\n\nThe 1953 Operating Principles\nEven Keeling\n\n\nA Metaphor for Change\nTreasury Debt Management\n\nAuctions of Coupon-Bearing Debt\n\n\nOpen Market Operations\nFailed and Supplanted Initiatives\nInter-Agency Accommodations\n\nOperation Twist\nTreasury Cash Management\nCash Management Bills\n\n\nMarket Infrastructure\n\nGovernment Securities Clearing Arrangement\nBook-Entry II\nSecurities Lending\nThe Association of Primary Dealers in US Government Securities\n\n\nRecapitulation\n\n\nChapter 34: After 1979\n\nTreasury Debt Management\n\nNew Securities\nAuction Innovations\n\n\nMarket Infrastructure\n\nDrysdale\nESM and Bevill\, Bresler\nThe Government Securities Clearing Corporation\nAccess to the Interdealer Broker Market\n\n\n\n\n\n\n\n\nFuture Suggested Readings\n\n\nHow a Ledger Became a Central Bank: A Monetary History of the Bank of Amsterdam by Quinn and Roberds (2023)\nThe Almighty Dollar: 500 Years of the World’s Most Powerful Money by Brendan Greeley (2026)\nWell Worth Saving: How the New Deal Safeguarded Home Ownership by Fishback\, Rose\, and Snowden (2013)\nSlapped by the Invisible Hand: The Panic of 2007 by Gary Gorton (2010)\nThe House of Morgan by Ron Chernow (1990)\nA Study of Money Flows in the United States by Morris Copeland (1952)\nA History of the Greenbacks by Wesley Clair Mitchell (1903)\nCalming the Storms: The Carry Trade\, the Banking School and British Financial Crises Since 1825 by Charles Read (2023)\nBenjamin Strong: Central Banker by Lester V. Chandler (1958)\nAn Engine\, Not a Camera: How Financial Models Shape Markets by Donald MacKenzie (2007)\nCurrency and Credit (4e) by Ralph Hawtrey (1950)\nThe Golden Age of the Quantity Theory by David Laidler (1991)\nCapitalizing on Crisis: The Political Origins of the Rise of Finance by Greta Krippner (2011)\nThe Federal Reserve System by Paul Warburg (1930)\nCentral Bank Capitalism: Monetary Policy in Times of Crisis by Joscha Wullweber (2024)\nIntroduction to Central Banking by Ulrich Bindseil and Alessio Fota (2021)\nThe Chairman: John J. McCloy & The Making of the American Establishment by Kai Bird (1992)\nManias\, Panics\, and Crashes (8e) by Robert McCauley (2023)\nThe Bailout State: Why Governments Rescue Banks\, Not People by Martijn Konings (2025)\n\n\nPast Readings with Discussion Recordings\n\n\nMinsky by Daniel H. Neilson (2019)\n2021-03-24 — Discussion Session 1\n2021-03-31 — Discussion Session 2\n2021-04-07 — Discussion with Daniel Neilson\nThe Art of Central Banking (Chapter IV) by Ralph Hawtrey (1933)\n2021-04-21 — Discussion Session 1\n2021-05-05 — Discussion Session 2\n2021-05-26 — Discussion with David Glasner\nMaking Money: Coin\, Currency\, and the Coming of Capitalism by Christine Desan (2014)\n2021-06-02 — Discussion Session 1\n2021-06-16 — Discussion Session 2\n2021-06-30 — Discussion Session 3\n2021-07-14 — Discussion with Christine Desan\nMoney in a Theory of Finance by John G. Gurley\, Edward S. Shaw (1960)\n2021-07-21 — Discussion Session 1\n2021-08-04 — Discussion Session 2\n2021-08-18 — Discussion Session 3\nThe World in Depression\, 1929-1939 by Charles P. Kindleberger (1973)\n2021-09-01 — Discussion Session 1\n2021-09-15 — Discussion Session 2\n2021-09-29 — Discussion Session 3\nThe Rise of Carry by Jamie Lee et al (2019)\n2021-10-13 — Discussion Session 1\n2021-10-27 — Discussion Session 2\nThe Money Interest and the Public Interest by Perry Mehrling (1998)\n2021-11-10 — Discussion Session 1 | Allyn Young\n2021-11-24 — Discussion Session 2 | Alvin Hanson\n2021-12-08 — Discussion Session 3 | Edward Shaw\nControlling Credit by Eric Monnet (2018)\n2022-01-05 — Discussion Session 1\n2022-01-19 — Discussion Session 2\nThe Menace of Fiscal QE by George Selgin (2020)\n2022-02-02 — Discussion Session\nThe New Lombard Street by Perry Mehrling (2011)\n2022-02-23 — Discussion Session 1\n2022-03-09 — Discussion Session 2\n2022-03-23 — Discussion Session 3\nFighting Financial Crises: Learning from the Past by Gary Gorton\, Ellis Tallman (2021)\n2022-04-20 — Discussion Session 1\n2022-05-11 — Discussion Session 2\nMoney and empire: The international gold standard\, 1890-1914 by Marcello De Cecco (1974)\n2022-05-25 — Discussion Session 1\n2022-06-15 — Discussion Session 2\nCentral Bank Cooperation 1924-31 by Stephen Clarke (1967)\n2022-06-22 — Discussion Session 1\n2022-07-06 — Discussion Session 2\nThe Money Problem: Rethinking Financial Regulation by Morgan Ricks (2016)\n2022-07-27 — Discussion Session 1\n2022-08-10 — Discussion Session 2\n2022-08-17 — Discussion with Morgan Ricks\nThe Evolution of Central Banking: Theory and History by Stefano Ugolini (2017)\n2022-08-24 — Discussion Session 1\n2022-09-07 — Discussion Session 2\n2022-09-21 — Discussion Session 3\n2022-10-05 — Discussion with Stefano Ugolini\nA Financial History of Western Europe by Charles P. Kindleberger (1984\, 1993)\n2022-10-19 — Discussion Session 1 | Part 1: Money\n2022-11-02 — Discussion Session 2 | Part 2: Banking\n2022-11-16 — Discussion Session 3 | Part 3: Finance\n2023-01-11 — Discussion Session 4 | Part 4: The Interwar Period\n2023-01-18 — Discussion Session 5 | Part 5: After World War II\nMoney and Empire: Charles P. Kindleberger and the Dollar System by Perry Mehrling (2022)\n2022-11-30 — Discussion Session 1 | Part 1: Intellectual Formation\, 1910–1948\n2022-12-14 — Discussion Session 2 | Part 2: International Economist\, 1948–1976\n2022-12-21 — Discussion Session 3 | Part 3: Historical Economist\, 1976–2003\n2022-12-21 — Discussion #1 with Perry Mehrling\n2023-01-04 — Discussion #2 with Perry Mehrling\nBonds without Borders: A History of the Eurobond Market by Chris O’Malley (2015)\n2023-02-15 — Discussion Session 1\n2023-03-01 — Discussion Session 2\nMonetary Policy Operations and the Financial System by Ulrich Bindseil (2014)\n2023-03-15 — Discussion Session 1 (Ch 1-8)\n2023-03-29 — Discussion Session 2 (Ch 9-12)\n2023-04-12 — Discussion Session 3 (Ch 13-18)\nCapital Wars: The Rise of Global Liquidity by Michael J. Howell (2020)\n2023-04-26 — Discussion Session 1 (Ch 1-7)\n2023-05-10 — Discussion Session 2 (Ch 8-14)\nA Market Theory of Money by John Hicks (1989)\n2023-05-24 — Discussion Session 1 (Ch 1-7)\n2023-06-07 — Discussion Session 2 (Ch 8-15)\nThe Currency of Politics: The Political Theory of Money from Aristotle to Keynes by Stefan Eich (2022)\n2023-06-28 — Discussion Session 1 (Ch 1 & 2)\n2023-07-19 — Discussion Session 2 (Ch 3 & 4)\n2023-08-02 — Discussion Session 3 (Ch 5 & 6)\n2023-08-14 — Discussion with Stefan Eich\nFischer Black and the Revolutionary Idea of Finance by Perry Mehrling (2005)\n2023-08-22 — Discussion Session 1 (Ch 1–5)\n2023-09-05 — Discussion Session 2 (Ch 6–8)\n2023-09-19 — Discussion Session 3 (Ch 9–11)\n2023-09-26 — Discussion with Perry Mehrling\nThe Evolution of Central Banks by Charles Goodhart (1988)\n2023-10-03 — Discussion Session 1 (Ch 1–6)\n2023-10-17 — Discussion Session 2 (Ch 7–8\, Appendix)\nThe Repo Market: Shorts\, Shortages\, and Squeezes by Scott Skyrm (2023)\n2023-11-07 — Discussion Session 1 (pages 1–92)\n2023-11-21 — Discussion Session 2 (pages 93–186)\n2023-12-05 — Discussion Session 3 (pages 187–310) Part 1 — Part 2\n2023-12-12 — Discussion with Scott Skyrm From 39:20\nThe Volatility Machine: Emerging Economies and the Threat of Financial Collapse by Michael Pettis (2001)\n2023-12-19 — Discussion Session 1 (Ch 1–5)\n2024-01-02 — Discussion Session 2 (Ch 6–10)\n2024-01-09 — Discussion with Michael Pettis\nInternational Capital Movements by Charles P. Kindleberger (1987)\n2024-01-16 — Discussion Session 1 (Ch 1 & 2)\n2024-01-30 — Discussion Session 2 (Ch 3 & 4)\nA Political Theory of Money by Anush Kapadia (2024)\n2024-02-20 — Discussion Session 1 (Ch 1–4)\n2024-03-05 — Discussion Session 2 (Ch 5–7)\n2024-03-19 — Discussion Session 3 (Ch 8–12)\n2024-03-26 — Discussion with Anush Kapadia\nThe Rise of Central Banks: State Power in Financial Capitalism by Leon Wansleben (2023)\n2024-04-02 — Discussion Session 1 (Ch 1–3)\n2024-04-23 — Discussion Session 2 (Ch 4–6)\n2024-05-07 — Discussion with Leon Wansleben\nThe Money Illusion: Market Monetarism\, the Great Recession\, and the Future of Monetary Policy by Scott Sumner (2021)\n2024-05-14 — Discussion Session 1 (Parts 1 & 2)\n2024-05-28 — Discussion Session 2 (Parts 3 & 4)\n2024-06-18 — Discussion Session 3 (Parts 5 & 6)\n2024-06-25 — Discussion with Scott Sumner\nPrivate Money and Public Currencies: The Sixteenth Century Challenge: The Sixteenth Century Challenge by Boyer-Xambeu\, Deleplace\, and Gillard (1994)\n2024-07-02 — Discussion Session 1 (Ch 1–3)\n2024-07-16 — Discussion Session 2 (Ch 4 & 5)\n2024-07-30 — Discussion Session 3 (Ch 6\, 7 & Conclusion)\nThe Arena of International Finance by Charles A. Coombs (1976)\n2024-08-13 — Discussion Session 1 (Ch 1ー6)\n2024-08-27 — Discussion Session 2 (Ch 7–12)\nThe Bill on London: or The Finance of Trade by Bills of Exchange by Gillett Brothers (1952/1976)\n2024-09-17 — Discussion Session\nBirth of a Market: The U.S. Treasury Securities Market from the Great War to the Great Depression by Kenneth D. Garbade (2012)\n2024-10-01 — Discussion Session 1 (Ch 1–10)\n2024-10-15 — Discussion Session 2 (Ch 11–15)\n2024-10-29 — Discussion Session 3 (Ch 16–24)\nA Monetary and Fiscal History of the United States\, 1961–2021 by Alan S. Blinder (2022)\n2024-11-12 — Discussion Session 1 (Ch 1–7)\n2024-11-26 — Discussion Session 2 (Ch 8–13)\n2024-12-10 — Discussion Session 3 (Ch 14–19)\nBuilding a Ruin: The Cold War Politics of Soviet Economic Reform by Yakov Feygin (2024)\n2025-01-07 — Discussion Session 1 (Ch 1–3)\n2025-01-21 — Discussion Session 2 (Ch 4–6)\n2025-02-04 — Discussion Session 3 (Ch 7 & Afterword)\nA Crash Course on Crises: Macroeconomic Concepts for Run-Ups\, Collapses\, and Recoveries by Markus K. Brunnermeier and Ricardo Reis (2023)\n2025-02-25 — Discussion Session 1 (Parts 1 and 2)\n2025-03-11 — Discussion Session 2 (Parts 3 and 4)\nThe Empire of Value: A New Foundation for Economics by Andre Orlean (2014)\n2025-03-25 — Discussion Session 1 (Introduction and Part 1) Part 1 — Part 2\n2025-04-08 — Discussion Session 2 (Parts 2 and 3)\n2025-04-22 — Discussion Session 3 (Part 4 and Conclusion)\nThe Wheels of Commerce by Fernand Braudel (1979/1982)\n2025-05-06 — Discussion Session 1 (Chapter 1)\n2025-05-13 — Discussion Session 2 (Chapter 2)\n2025-05-20 — Discussion Session 3 (Chapter 3)\n2025-05-27 — Discussion Session 4 (Chapter 4)\n2025-06-03 — Discussion Session 5 (Chapter 5)\nBeyond Banks: Technology\, Regulation\, and the Future of Money by Dan Awrey (2024)\n2025-06-17 — Discussion Session 1 (Intro & Ch 1–3)\n2025-07-01 — Discussion Session 5 (Ch 4–7 & Conclusion)\n2025-07-08 — Discussion with Dan Awrey\nOur Dollar\, Your Problem: An Insider’s View of Seven Turbulent Decades of Global Finance by Kenneth Rogoff (2025)\n2025-08-19— Discussion Session 1 (Parts 1-3)\n2025-08-26 — Discussion Session 2 (Parts 4-6)\nCentral Banking Before 1800: A Rehabilitation by Ulrich Bindseil (2019)\n2025-09-01 — Discussion Session 1 (Ch 1&2)\n2025-09-15 — Discussion Session 2 (Ch 3–5)\n2025-09-29 — Discussion Session 3 (Ch 6&7)\n2025-10-13 — Discussion with Ulrich Bindseil\nThe Long Twentieth Century: Money\, Power and the Origins of Our Times by Giovanni Arrighi (2010)\n2025-10-20 — Discussion Session 1 (Ch 1&2)\n2025-11-03 — Discussion Session 2 (Ch 3)\n2025-11-10 — Discussion Session 3 (Ch 4)\nFragile by Design: The Political Origins of Banking Crises and Scarce Credit by Charles W. Calomiris and Stephen Haber (2014)\n2025-11-17 — Discussion Session 1 (Ch 1–5)\n2025-12-01 — Discussion Session 2 (Ch 6-9)\n2025-12-15 — Discussion Session 3 (Ch 10–15)\n2026-01-05 — Discussion with Charles Calomiris\nTreatise on Money by Joseph Schumpeter (1970/2014)\n2026-01-12 — Discussion Session 1 (Ch 1–3)\n2026-01-27 — Discussion Session 2 (Ch 4–7)\n2026-02-10 — Discussion Session 3 (Ch 8–10)\n2026-02-24 — Discussion Session 4 (Ch 11–12)\nBetween Payments and Credit: An Introduction to the IOU Economy by George Pantelopoulos (2025)\n2026-03-10 — Discussion Session 1 (Ch 1–5)\n2026-03-24 — Discussion Session 2 (Ch 6–10)\n2026-04-07 — Discussion Session 3 (Ch 11–13)\n2026-04-14 — Discussion with George Pantelopoulos\nAgainst Money by J. W. Mason and Arjun Jayadev (2026)\n2026-05-05 — Discussion Session 1 (ch 1–4)\n2026-05-12 — Discussion Session 2 (ch 5–7)\n2026-06-12 — Discussion with J.W. Mason\nOur Money: Monetary Policy as if Democracy Matters by Leah Downey (2025)\n2026-06-02 — Discussion Session 1 (Ch 1–3)\n2026-06-16 — Discussion Session 2 (Ch 4–8)\nThe History of Money: A Story of Humanity by David McWilliams (2024)\n2026-06-23 — Discussion Session 1 (Parts 1 & 2)\n2026-07-07 — Discussion Session 2 (Parts 3–5)\n\n\nOff-Week Sessions\n\n2021-05-19 BIS Working Paper: Breaking free of the triple coincidence in international finance (2015)\n2021-07-07 Global Domain of the Dollar: 8 Questions by Robert McCauley Author Discussion\n2021-07-28 BIS and Bank of England reports on Central Bank Digital Currencies\n2022-09-28 The Crypto Banking System by Sébastien Derivaux (2022) Author Discussion\n2023-04-05 Discussion of Silicon Valley Bank\n2023-04-19 Institutional Cash Pools by Zoltan Pozsar (2011)\n2023-05-03 BIS Bulletin #73: Stablecoins vs. Tokenized Deposits (May 3\, 2023)\n2023-07-05 The Credit–Money Hierarchy: a Republican \, Egalitarian Appraisal by Aaron James (2023)\n2023-07-26 Public Purpose Finance: The Government’s Role as Lender by Nadav Orian Peer (2020) Author Discussion 2023-10-24 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 1\n2023-10-31 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 2\n2023-11-14 ICMA Repo FAQ by Richard Comotto (2013/2019)\n2023-11-28 Basis Trades and Treasury Market Illiquidity by Daniel Barth & Jay Kahn (2020)\n2024-01-23 Capital flows and the current account by Borio and Disyatat (2015)\n2024-02-13 The dual currency system of Renaissance Europe by Luca Fantacci (2008)\n2024-02-27 BIS: Buy now\, pay later: a cross-country analysis by Cornelli et al. (2023)\n2024-03-12 The non-use of money in the Middle Ages by Bell\, Brooks\, and Moore (2017)\n2024-04-09 The Central Role of Credit Crunches in Recent Financial History by Albert M. Wojnilower (1980)\n2024-04-16 Measuring Equilibrium in the Balance of Payments by Charles P. Kindleberger (1969)\n2024-04-30 The Rise and Risks of Private Credit — GFSR (April\, 2024)\n2024-06-04 BIS Working Paper No 1100: Getting up from the floor by Claudio Borio (May\, 2023)\n2024-06-11 The Offshore Dollar and US Policy by Robert McCauley (May\, 2024)\n2024-07-09 The (impossible) repo trinity: the political economy of repo markets by Daniela Gabor (2016)\n2024-08-07 A Safe Haven for Hidden Risks (May 30\, 2024) and Rate Transformation (November 4\, 2023) by Elham Saeidinezhad\n2024-08-20 The Collateral Supply Effect on Central Bank Policy by Carolyn Sissoko (2020)\n2024-09-10 Monetary Policy Implications of Market Maker of Last Resort Operations by Anil K Kashyap (August 23\, 2024)\n2024-11-05 BIS Bulletin No 90: The market turbulence and carry trade unwind of August 2024 (August 27\, 2024)\n2024-11-19 Yen Carry Trade and the Subprime Crisis by Masazumi Hattori and Hyun Song Shin (2009)\n2024-12-03 After the Allocation: What Role for the Special Drawing Rights System? by Pforr\, Pape\, and Murau (2022)\n2025-01-14 Where Profits Come From by the Levy Forecasting Center by Levy\, Farnham\, & Rajan (2008/1997)\n2025-01-28 The Broad Consequences of Narrow Banking by Matheus R. Grasseli and Alexander Lipton (2019)\n2025-02-11 Failing Banks by Sergio Correia\, Stephen Luck\, and Emil Verner (2024)\n2025-02-18 Odd Lots — The Hidden History of Eurodollars by Lev Menand and Joshua Younger (January 2025)\n2025-03-04 Of Last Resort: Evaluating the Treasury-Equity Model of Federal Reserve Emergency Lending by Steven Kelly (2024)\n2025-03-18 Commercial Banking and Capital Formation I–IV by Harold Moulton (1918)\n2025-04-01 Climate Alignment For Banks: The Stories That Numbers Tell by Nadav Orian Peer (2025) Author Discussion\n2025-04-15 Shadow Banking: Why Modern Money Markets are Less Stable Than 19th c. Money Markets But Shouldn’t Be Stabilized by a ‘Dealer of Last Resort’ by Carolyn Sissoko (2014)\n2025-04-29 Treasury Market and the Basis Trade (Adrian et al. 2025; Kashyap et al. 2025)\n2025-06-10 Structural Changes in the Global Financial System lecture by Hyun Song Shin (May 19\, 2025)\n2025-06-24 International Regimes\, Transactions\, and Change: Embedded Liberalism in the Postwar Economic Order by John Gerard Ruggie (1982)\n2025-07-15 BIS Annual Report Chapter: Financial conditions in a changing global financial system (2025)\n2025-07-22 Banks Are Intermediaries of Loanable Funds by George Selgin (2024)\n2025-07-29 Theorising non-bank financial intermediation by Jo Michell (2024)\n2025-08-05 Banks are different: why bank-based versus market-based lending is a false dichotomy by Carolyn Sissoko (2024)\n2025-09-08 Did France Cause the Great Depression? by Douglas A. Irwin (2010)\n2025-09-22 Rethinking Monetary Sovereignty: The Global Credit Money System and the State by Murau and van’t Klooster (2023)\n2025-10-06 Rethinking currency internationalisation: offshore money creation and the EU’s monetary governance by Murau and van’t Klooster (2025)\n2025-10-27 BIS Bulletin No 114: “Financial channel implications of a weaker dollar for emerging market economies” by Juselius\, Wooldridge and Xia (October 13\, 2025)\n2025-11-24 Bubble or Nothing: Data Center Project Finance by Advait Arun (November 12\, 2025)\n2025-12-08 Discussion of Debate over Whether Money Multiplier Requires Cash Lending\n2026-01-20 Gresham’s Law by Charles P. Kindleberger (1989)\n2026-02-03 The Law of One Price by Charles P. Kindleberger (1989)\n2026-02-17 Bank Runs With and Without Bank Failures by Correia\, Luck\, and Verner (2026)\n2026-03-03 Monetary Experience and the Theory of Money by John Hicks (1977)\n2026-03-31 What Is Money (1913) and The Credit Theory of Money (1914) by A. Mitchell-Innes\n2026-04-21 Covered interest parity lost: understanding the cross-currency basis by Borio et al. (2016)\n2026-04-28 Decoupling Dollar and Treasury Privilege by Du\, Keerati\, and Schreger (2025)\n2026-06-30 FEDS Note: Decomposing Hedge Funds’ U.S. Treasury Exposures by Phillip J. Monin (June 22\, 2026)\n2026-07-14 The Chicago Plan Revisited by Benes and Kumhof (2012)
URL:https://heske.wisdmlabs.net/event/money-view-reading-group/2026-09-01/
CATEGORIES:A series of zooms
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SUMMARY:Young Scholars Workshop on Youth Innovativeness for Sustainable Development through Cooperative Solutions
DESCRIPTION:Young people constitute a significant proportion of Africa’s population and represent a critical force for innovation\, social transformation\, and sustainable development. Despite this demographic advantage\, many African youths remain underrepresented in key spaces where development priorities are defined and decisions are made. This exclusion is evident in areas such as legal and policy formulation\, cooperative governance\, economic planning\, and Sustainable Development Goals (SDGs) implementation\, where youth perspectives could significantly enrich solutions but remain insufficiently integrated. \nAt the same time\, Africa faces persistent development challenges including youth unemployment\, financial exclusion\, climate vulnerability\, weak value chains\, and limited access to innovation ecosystems. These challenges require inclusive and forward-looking approaches that combine local knowledge\, research\, and practical innovation. \nCooperatives have long been recognized as people-centred enterprises that promote economic participation\, democratic governance\, social inclusion\, and community resilience. Increasingly\, they are being acknowledged as effective vehicles for achieving sustainable development outcomes\, particularly when aligned with innovation and youth participation. \nIn this context\, the Cooperative Working Group proposes a two-day Young Scholars Workshop to be held alongside the MoCU–CUK Joint International Conference 2026. The workshop will provide a structured platform for postgraduate students\, early-career researchers\, young professionals\, and cooperative practitioners to engage in dialogue\, share research\, and explore how youth-led innovativeness can generate cooperative solutions for sustainable development.
URL:https://heske.wisdmlabs.net/event/young-scholars-workshop-on-youth-innovativeness-for-sustainable-development-through-cooperative-solutions/
LOCATION:Seminar Room 12\, New Ushirika Building\, Ushirika\, Moshi\, Kilimanjaro\, 25121\, Tanzania\, United Republic of
CATEGORIES:An in-person event
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SUMMARY:YSI @ AKB 2026 | How can we rethink development pathways in the face of growing inequalities?
DESCRIPTION:The Brazilian Keynesian Association is proud to announce its 18th Conference\, gathering heterodox economists in Brazil. Centered on the theme “Building Equitable Societies: Development\, Sustainability\, and Inclusion”\, the event will explore new development pathways to address growing inequalities. During the event\, our keynote speaker will discuss the congress theme\, seeking to rethink development trajectories in light of increasing social\, economic\, and environmental inequalities. In addition\, the event will feature a Pre-Conference School aimed at young scholars. This special session seeks to empower emerging scholars by revisiting original texts in order to address contemporary economic challenges. \nThe event will take place from August 30 to September 4\, 2026\, at the Universidade Federal de Sergipe (UFS)\, in Aracaju\, Brazil. YSI will provide partial financial support to selected participants. \nInterested individuals may register for the conference through this link. The deadline for paper submission is May 17\, 2026. Some students with accepted papers will be selected to receive partial support for travel expenses. \nWe look forward to seeing you there! \n\n\n\n\n\n\n[Português] \nA Associação Keynesiana Brasileira tem o orgulho de anunciar seu XVIII Congresso\, o encontro da economia heterodoxa no Brasil. Centrado no tema “ Construindo Sociedades Equitativas: Desenvolvimento\, Sustentabilidade e Inclusão ”\, o evento explorará novos caminhos de desenvolvimento para enfrentar as crescentes desigualdades. Neste evento\, nosso palestrante principal discutirá o tema do congresso\, buscando repensar as trajetórias de desenvolvimento diante das crescentes desigualdades sociais\, econômicas e ambientais. Além disso\, o evento contará com uma Escola Pré-Congresso voltada para jovens pesquisadores. Esta sessão especial visa capacitar jovens pesquisadores\, revisitando o texto original para abordar os desafios econômicos contemporâneos. \nEsta atividade ocorrerá de 30 de agosto a 04 de setembro de 2026 \, na Universidade Federal de Sergipe (UFS)\, em Aracaju\, Brasil . YSI oferecerá auxílio financeiro aos participantes selecionados. \nOs interessados ​​podem se inscrever na conferência através deste link . O prazo final para a submissão do artigo é 17 de maio de 2026. Alguns estudantes com artigos aprovados serão selecionados para receber auxílio parcial para despesas de viagem. \nEsperamos ver você lá!
URL:https://heske.wisdmlabs.net/event/ysi-akb-2026-how-can-we-rethink-development-pathways-in-the-face-of-growing-inequalities/
LOCATION:Federal University of Sergipe\, Aracaju\, Brazil
CATEGORIES:An in-person event
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SUMMARY:Money View Reading Group
DESCRIPTION:The Money View Reading Group reads and discusses writings on money\, banking\, and finance. We are a self-directed group. Anyone interested in money and banking can read the readings\, join us for discussions\, or suggest future readings.\nWe meet for 90 minutes via Zoom on Tuesdays at 2 pm Eastern Time US (New York). \n\nCurrent Book\n\n\nAfter the Accord: A History of Federal Reserve Open Market Operations\, the US Government Securities Market\, and Treasury Debt Management from 1951 to 1979\n\nby Kenneth D. Garbade (2021) \nhttps://www.amazon.com/dp/1108839894/ \nFrom the description \nIn this book Garbade\, a former analyst at a primary dealer and researcher at the Federal Reserve Bank of New York\, traces the evolution of open market operations\, Treasury debt management\, and the microstructure of the US government securities markets following the 1951 Treasury-Federal Reserve. This volume examines how these operations evolved\, responding both to external forces and to one another. Utilising a vast scope of primary material\, the work provides insight into how officials fashioned the instruments\, facilities\, and procedures needed to advance their policy objectives in light of their novel freedoms and responsibilities. \nThis is a big book. As we did with Braudel’s The Wheel’s of Commerce last summer\, we are discussing this book in five back-to-back weekly sessions. \n\nUpcoming Sessions\n\n\n2026-07-21 – 2:00pm EDT\n\nDuring the off week\, we discuss Arthur C. Pigou’s Famous 1917 paper\, “The Value of Money.” \nhttps://www.jstor.org/stable/1885078?seq=1 \n\n2026-07-28 — 2:00pm EDT\n\nIn our first of five sessions\, we discuss Parts 1 and 2 of After the Accord by Kenneth Garbade. \n\nChapter 1: Introduction\n\nOpen Market Operations After the Accord\n\nBills Preferably\nRepurchase Agreements\nOpen Market Operations in Coupon-Bearing Debt\n\n\nTreasury Debt Management After the Accord\n\n\nPart I: The System and the Market in the 1940s\n\nChapter 2: The Government Securities Market\n\nWartime Interest Rate Ceilings\nFrom the End of the War to the End of 1949\nBill Auctions\nCash Subscription Offerings\nExchange Offerings\nAn Example\nThe Secondary Market\nThe Postwar Secondary Market\nThe Role of Dealers in Primary Market Offerings\n\n\nChapter 3: Reserves\, Reserve Requirements\, and Reserves Management\n\nReserve Requirements\n\nDemand Deposits\n\n\nReserves in Aggregate\nThe Inter-Bank Market for Federal Funds\nReserves Management\nAppendix: Treasury Cash Management\nAppendix: Identifying the Sources and Uses of Reserves\n\n\nChapter 4: The Institutional Framework of Open Market Operations\n\nThe Recognized Dealer Program\n\nFormalization of the Recognized Dealer Program\n\n\nAdvent of the Qualified Dealer Program\n\nRevising the Institutional Framework of Open Market Operations\nImplementing the Revised Framework\nThe Qualified Dealer Program at the End of the 1940s\n\n\nAppendix: Orderly Markets\n\nA Reexamination\n\n\n\n\n\n\nPart II: The Accord and Its Aftermath\n\nChapter 5: The Accord\n\nRun-Up to the Accord\nThe Accord\n\nThe Nomarketable Bond Offering\n\n\nAfter the Accord\n\n\nChapter 6: Taking Stock\n\nThe New York Reserve Bank Study\n\nThe Existing Framework\nProspects for Fundamental Change\n\nAn Exchange Market\nDirect Trading by Federal Reserve Banks\nReliance on Nonmarketable Long-Term Debt\n\n\nProspects for More Modest Changes\n\nExpanding the Number of Qualified Dealers\n\n\nRelations between the System and the Treasury\nSumming Up\n\n\nThe Ad Hoc Subcommittee Study\n\nSystem Intervention\n\nBills Preferably\nTreasury Financings\n\n\nDealer Qualification Requirements\nMarket Intelligence\n\n\n\n\nChapter 7: New Directions\n\nMarket Intervention\nDealer Relations\n\nMarket Intelligence\n\n\nSubsequent Actions\n\nThe End of the Qualified Dealer Program\nPublicizing the New Restrictions on Market Intervention\n\n\n\n\nChapter 8: Challenging the New Restrictions\n\nThe April 1953 Bond Offering\nThe Mid-May Executive Committee Meetings\n\nThe May 6 Meeting\nThe May 13 Meeting\nSystem Open Market Account Activity and Reserve Availability in May\n\n\nBreakdown and Intervention\nRevisiting the Restrictions on Intervention\n\nReimposition\n\n\nThe Controversy Becomes Public\n\n\nChapter 9: An Additional Limitation on the Conduct of Open Market Operations\n\nA Swap Authorization\nPushback\nRound Two\n\n\n\n\n\n\n2026-08-04 — 2:00pm EDT\n\nIn our second of five sessions\, we discuss Part 3 of After the Accord by Kenneth Garbade. \n\nPart III: The New Regime\n\nChapter 10: Monetary Policy in 1954\n\nMonitoring Economic Activity\nMonetary Policy\n\nThe Directives\nThe Minutes\n\n\nCaveats\n\n\nChapter 11: Policy Instruments for Reserves Management\n\nOutright Purchases and Sales of Treasury Bills\nRepurchase Agreements on Short-Term Treasury Securities\n\nRepurchase Agreements before the Accord\nPostwar Reinstatement\nLinking the Floor on Repo Rates to the Treasury Bill Rate Instead of the Discount Rate\nConsequences of the Accord\nRepurchase Agreements in 1954\nRobertson’s Resistance to System Repurchase Agreements\nThe Opening Round\nRobertson’s Critique\nA Proposal\nReconciliation\nSubsequent Events\n\n\n\n\nChapter 12: Monetary Policy in 1955\n\nFOMC Directives\nMoney Market Indicators\nTreasury Offerings of Coupon-Bearing Debt\n\nAttrition on Exchange Offerings\nMaintaining an Even Keel\n\n\nDefensive Operations\n\nWhen Reserves Needed to Be Drained\nTwo Work-Arounds\n\n\n\n\nChapter 13: Pragmatism in the Accommodation of Treasury Offerings\n\nRepurchase Agreements on Rights\nIntervention\nIntervention by Another Name\n\n\nChapter 14: 1956 and 1957\n\nDefensive Operations\n\nCurrency\nFloat\nTreasury Balances at Federal Reserve Banks\nForecasting Errors\n\n\nAccommodating Treasury Offerings\n\nThe May 1957 Refunding\nSubsequent Offerings in 1957\n\n\nThe Continuing Importance of Repurchase Agreements\n\n\n\n\n\n\n2026-08-11 — 2:00pm EDT\n\nIn our third of five sessions\, we discuss Parts 4 and 5 of After the Accord by Kenneth Garbade. \n\nPart IV: Summer 1958 and Its Consequences\n\nChapter 15: The Summer 1958 Treasury Financings\n\nAn Overview of 1958\nRun-Up to the June Financing\nThe June Financing\n\nResults of the Financing\n\n\nThe Aftermath of the June Financing\n\nThe Treasury Enters the Market\nTrading on July 8\nTreasury Reveals Its Purchases\n\n\nIraq and Lebanon\nThe July Refunding\n\nFriday\, July 18\nThe Subscription Period (Monday\, July 21 to Wednesday\, July 23)\nDenouement\n\n\nAftermath to the July Refunding\n\n\nChapter 16: Innovations in Treasury Debt Management\n\nA Need for Change\n\nTreasury Issuance of Coupon-Bearing Debt from 1953 to 1958\nGaines’s Critique\nTreasury Bills – A Bright Spot\nFriedman’s Recommendations\n\n\nTreasury’s Innovations\n\nIssuing and Redeeming Coupon-Bearing Debt on a Regular Schedule\nTwenty-Six-Week Bills\nCash Refundings\nThe Problem of SOMA Reinvestments\nAdvance Refundings\nWhy the Treasury Declined to Extend the Auction Process to Coupon-Bearing Securities\n\n\n\n\nChapter 17: The Treasury-Federal Reserve Study of the Government Securities Market\n\nMarket Statistics\n\nAdvent of the Reporting Dealer Program\n\nInitial Discussions\nA Joint Staff Proposal\nImplementation\n\n\n\n\nDealer Finance\nProspects for a Dealer Association\n\n\n\n\nPart V: The End of Bills Preferably\n\nChapter 18: The 1958-1960 Gold Drain\n\nGold in the International Payments System\nThe London Gold Market\nThe Place of Gold in FOMC Deliberations\nThe Break-out of London Gold Prices\nThe Place of Gold in FOMC Deliberations After the Break-out\nContemplating the Future\n\n\nChapter 19: Operation Twist\n\nHow Economists Viewed the Term Structure of Interest Rates\nThe February 7 Executive Session of the Federal Open Market Committee\nConducting Open Market Operations in Longer-Term Securities\nWhat\, Exactly\, Were the Objectives of the New Program?\nDisengagement?\nThe Scale of Open Market Operations in Longer-Term Securities\nAbandoning the 1953 Operating Principles\nOperation Twist After 1961\n\nNew Policy Instruments\nNew Empirical Evidence\n\n\nThe End of $35 Gold\n\n\n\n\n\n\n2026-08-18 — 2:00pm EDT\n\nIn our fourth of five sessions\, we discuss Parts 6 and 7 of After the Accord by Kenneth Garbade. \n\nPart VI: The 1960s\n\nChapter 20: Treasury Debt Management in the 1960s\n\nSecular Variation of Marketable Debt\nTreasury Bills\n\nRegular Bills\nBill Strips\nTax Anticipation Bills\n\n\nCertificates\, Notes\, and Bonds\n\nMid-Quarter Refundings\nStand-Alone Offerings for New Money\nAdvance Refundings\n\nAdvance Refundings after Mid-1965\n\n\n\n\nThe Two Worlds of Treasury Finance\n\nAn Experiment in Auctioning Bonds\n\n\n\n\nChapter 21: Monetary Policy in the 1960s\n\n1961 to 1965\n1966\n\nThe August Money Panic\n\n\n\n\nChapter 22: Repurchase Agreements in the 1960s\n\nSystem Access to Repo Collateral\n\nRelaxing the Two-Year Maturity Limit\nEliminating the Two-Year Maturity Limit and Permitting Back-to-Back Repos\nSystem Repos on Agency Collateral\n\n\nMatched Sale-Purchase Agreements\nAn Unsuccessful Effort to Introduce More Flexible Repo Pricing\n\n\n\n\nPart VII: Updating Market Infrastructures: The Joint Study\n\nChapter 23: The Association of Primary Dealers\n\nArrivals and Departures\nFederal Reserve and Treasury Thinking About a Dealer Association\nPrecipitating Events\nFormation of the Association of Primary Dealers\n\n\nChapter 24: Dealer Finance\n\nDealer Finance and the Role of Money Market Banks as Residual Lenders\nRecommendations of the Joint Study Steering Committee\nResponse of the Federal Open Market Committee\n\n\nChapter 25: The Government Securities Clearing Arrangement\n\nSettling Transactions in Treasury Securities Before 1965\n\nIntracity Settlements\nCPD Settlement\n\n\nOrigins of the Clearing Arrangement\nThe Pilot Program\nIntracity Transfers\nBalancing the Demands of Competing Settlement Systems\nRemarks\n\n\nChapter 26: Securities Lending\n\nThe Impetus for a Federal Reserve Securities Lending Program\nThe Joint Study Proposal\n\nThe Staff Study\nDiscussion by the Steering Committee\nThe FOMC Response\n\n\nThe 1969 Fails Crisis\nThe FOMC Revisits Securities Lending\nWhether to Lend Against Short Sales\n\n\nChapter 27: The Book-Entry System\, Part I\n\nOrigins of the Book-Entry System\nIssues in Creating a Book-Entry System\nThe First Implementation\nThe Second Implementation\nWhat Remained to be Done\n\n\n\n\n\n\n2026-08-25 — 2:00pm EDT\n\nIn our last of five sessions\, we discuss Parts 8 and 9 of After the Accord by Kenneth Garbade. \n\nPart VIII: The 1970s\n\nChapter 28: Treasury Debt Management in the 1970s\n\nMarketable Treasury Debt in the 1970s\n\nRegular Bills\nThirteen- and Twenty-Six-Week Bills\nNine-Month Bills and One-Year Bills\nBill Strips\nIrregular Bills\nNotes and Bonds\nAverage Maturity\n\n\nThe Introduction of Treasury Note and Bond Auctions\n\nThe May 1970 Refunding\nThe First Auction\nSubsequent Auction Offerings of Notes and Bonds\nConsequences of Bond Auctions for Advance Refundings\nFine-Tuning the Auction Process\n\nA Failed Auction and the Advent of Yield Auctions\nThe End of Single-Price Auctions\n\n\nA Last Harrah for Fixed-Price Offerings\n\n\nThe Advent of Regular and Predictable Note and Bond Offerings\n\nThe Introduction of Two-Year Cycle Notes\nExtending Regular and Predictable Issuance to Intermediate-Term Notes\nMid-Quarter Refundings and Fifteen-Year Bonds\n\n\nA Recapitulation of Treasury Debt Management Innovations in the 1970s\n\n\nChapter 29: Monetary Policy in the 1970s\n\n1970-1971\n1972-1973\n1974-1979\nFluctuations in Autonomous Factors\n\nTreasury Deposits at Federal Reserve Banks\nFloat\nBank Borrowing at the Discount Window\n\n\nThe End (Sort of) of Even Keel\n\n\nChapter 30: Open Market Operations in the 1970s\n\nThe Operating Environment\n\nTreasury Cash Management\n\n\nThe Continuing Problem with Liquidity\n\nCompetitive Repo Pricing\nSystem Repos with Bank Dealers\nAnother Way Around the Barn\n\n\nOutright Transactions in Federal Agency Debt\n\nReconsideration\nSubsequent Events\n\n\n\n\n\n\nPart IX: Infrastructure in the 1970s\n\nChapter 31: The Secondary Market in the 1970s\n\nPrimary Dealers\nThe Interdealer Broker Market\n\nManaging the Risks of Blind Brokerage\nSeparating Reporting Dealer Status from Primary Dealer Status\n\n\nThe Rise of Screen Brokers\n\n\nChapter 32: The Book-Entry System\, Part II\n\nThe Insurance Crisis\nExpansion of the Book-Entry System\nConfronting the Limits of Technology\nThe End of the GSCA and the End of Definitive Securities\n\n\nChapter 33: Coda\n\nInitial Actions\n\nThe 1953 Operating Principles\nEven Keeling\n\n\nA Metaphor for Change\nTreasury Debt Management\n\nAuctions of Coupon-Bearing Debt\n\n\nOpen Market Operations\nFailed and Supplanted Initiatives\nInter-Agency Accommodations\n\nOperation Twist\nTreasury Cash Management\nCash Management Bills\n\n\nMarket Infrastructure\n\nGovernment Securities Clearing Arrangement\nBook-Entry II\nSecurities Lending\nThe Association of Primary Dealers in US Government Securities\n\n\nRecapitulation\n\n\nChapter 34: After 1979\n\nTreasury Debt Management\n\nNew Securities\nAuction Innovations\n\n\nMarket Infrastructure\n\nDrysdale\nESM and Bevill\, Bresler\nThe Government Securities Clearing Corporation\nAccess to the Interdealer Broker Market\n\n\n\n\n\n\n\n\nFuture Suggested Readings\n\n\nHow a Ledger Became a Central Bank: A Monetary History of the Bank of Amsterdam by Quinn and Roberds (2023)\nThe Almighty Dollar: 500 Years of the World’s Most Powerful Money by Brendan Greeley (2026)\nWell Worth Saving: How the New Deal Safeguarded Home Ownership by Fishback\, Rose\, and Snowden (2013)\nSlapped by the Invisible Hand: The Panic of 2007 by Gary Gorton (2010)\nThe House of Morgan by Ron Chernow (1990)\nA Study of Money Flows in the United States by Morris Copeland (1952)\nA History of the Greenbacks by Wesley Clair Mitchell (1903)\nCalming the Storms: The Carry Trade\, the Banking School and British Financial Crises Since 1825 by Charles Read (2023)\nBenjamin Strong: Central Banker by Lester V. Chandler (1958)\nAn Engine\, Not a Camera: How Financial Models Shape Markets by Donald MacKenzie (2007)\nCurrency and Credit (4e) by Ralph Hawtrey (1950)\nThe Golden Age of the Quantity Theory by David Laidler (1991)\nCapitalizing on Crisis: The Political Origins of the Rise of Finance by Greta Krippner (2011)\nThe Federal Reserve System by Paul Warburg (1930)\nCentral Bank Capitalism: Monetary Policy in Times of Crisis by Joscha Wullweber (2024)\nIntroduction to Central Banking by Ulrich Bindseil and Alessio Fota (2021)\nThe Chairman: John J. McCloy & The Making of the American Establishment by Kai Bird (1992)\nManias\, Panics\, and Crashes (8e) by Robert McCauley (2023)\nThe Bailout State: Why Governments Rescue Banks\, Not People by Martijn Konings (2025)\n\n\nPast Readings with Discussion Recordings\n\n\nMinsky by Daniel H. Neilson (2019)\n2021-03-24 — Discussion Session 1\n2021-03-31 — Discussion Session 2\n2021-04-07 — Discussion with Daniel Neilson\nThe Art of Central Banking (Chapter IV) by Ralph Hawtrey (1933)\n2021-04-21 — Discussion Session 1\n2021-05-05 — Discussion Session 2\n2021-05-26 — Discussion with David Glasner\nMaking Money: Coin\, Currency\, and the Coming of Capitalism by Christine Desan (2014)\n2021-06-02 — Discussion Session 1\n2021-06-16 — Discussion Session 2\n2021-06-30 — Discussion Session 3\n2021-07-14 — Discussion with Christine Desan\nMoney in a Theory of Finance by John G. Gurley\, Edward S. Shaw (1960)\n2021-07-21 — Discussion Session 1\n2021-08-04 — Discussion Session 2\n2021-08-18 — Discussion Session 3\nThe World in Depression\, 1929-1939 by Charles P. Kindleberger (1973)\n2021-09-01 — Discussion Session 1\n2021-09-15 — Discussion Session 2\n2021-09-29 — Discussion Session 3\nThe Rise of Carry by Jamie Lee et al (2019)\n2021-10-13 — Discussion Session 1\n2021-10-27 — Discussion Session 2\nThe Money Interest and the Public Interest by Perry Mehrling (1998)\n2021-11-10 — Discussion Session 1 | Allyn Young\n2021-11-24 — Discussion Session 2 | Alvin Hanson\n2021-12-08 — Discussion Session 3 | Edward Shaw\nControlling Credit by Eric Monnet (2018)\n2022-01-05 — Discussion Session 1\n2022-01-19 — Discussion Session 2\nThe Menace of Fiscal QE by George Selgin (2020)\n2022-02-02 — Discussion Session\nThe New Lombard Street by Perry Mehrling (2011)\n2022-02-23 — Discussion Session 1\n2022-03-09 — Discussion Session 2\n2022-03-23 — Discussion Session 3\nFighting Financial Crises: Learning from the Past by Gary Gorton\, Ellis Tallman (2021)\n2022-04-20 — Discussion Session 1\n2022-05-11 — Discussion Session 2\nMoney and empire: The international gold standard\, 1890-1914 by Marcello De Cecco (1974)\n2022-05-25 — Discussion Session 1\n2022-06-15 — Discussion Session 2\nCentral Bank Cooperation 1924-31 by Stephen Clarke (1967)\n2022-06-22 — Discussion Session 1\n2022-07-06 — Discussion Session 2\nThe Money Problem: Rethinking Financial Regulation by Morgan Ricks (2016)\n2022-07-27 — Discussion Session 1\n2022-08-10 — Discussion Session 2\n2022-08-17 — Discussion with Morgan Ricks\nThe Evolution of Central Banking: Theory and History by Stefano Ugolini (2017)\n2022-08-24 — Discussion Session 1\n2022-09-07 — Discussion Session 2\n2022-09-21 — Discussion Session 3\n2022-10-05 — Discussion with Stefano Ugolini\nA Financial History of Western Europe by Charles P. Kindleberger (1984\, 1993)\n2022-10-19 — Discussion Session 1 | Part 1: Money\n2022-11-02 — Discussion Session 2 | Part 2: Banking\n2022-11-16 — Discussion Session 3 | Part 3: Finance\n2023-01-11 — Discussion Session 4 | Part 4: The Interwar Period\n2023-01-18 — Discussion Session 5 | Part 5: After World War II\nMoney and Empire: Charles P. Kindleberger and the Dollar System by Perry Mehrling (2022)\n2022-11-30 — Discussion Session 1 | Part 1: Intellectual Formation\, 1910–1948\n2022-12-14 — Discussion Session 2 | Part 2: International Economist\, 1948–1976\n2022-12-21 — Discussion Session 3 | Part 3: Historical Economist\, 1976–2003\n2022-12-21 — Discussion #1 with Perry Mehrling\n2023-01-04 — Discussion #2 with Perry Mehrling\nBonds without Borders: A History of the Eurobond Market by Chris O’Malley (2015)\n2023-02-15 — Discussion Session 1\n2023-03-01 — Discussion Session 2\nMonetary Policy Operations and the Financial System by Ulrich Bindseil (2014)\n2023-03-15 — Discussion Session 1 (Ch 1-8)\n2023-03-29 — Discussion Session 2 (Ch 9-12)\n2023-04-12 — Discussion Session 3 (Ch 13-18)\nCapital Wars: The Rise of Global Liquidity by Michael J. Howell (2020)\n2023-04-26 — Discussion Session 1 (Ch 1-7)\n2023-05-10 — Discussion Session 2 (Ch 8-14)\nA Market Theory of Money by John Hicks (1989)\n2023-05-24 — Discussion Session 1 (Ch 1-7)\n2023-06-07 — Discussion Session 2 (Ch 8-15)\nThe Currency of Politics: The Political Theory of Money from Aristotle to Keynes by Stefan Eich (2022)\n2023-06-28 — Discussion Session 1 (Ch 1 & 2)\n2023-07-19 — Discussion Session 2 (Ch 3 & 4)\n2023-08-02 — Discussion Session 3 (Ch 5 & 6)\n2023-08-14 — Discussion with Stefan Eich\nFischer Black and the Revolutionary Idea of Finance by Perry Mehrling (2005)\n2023-08-22 — Discussion Session 1 (Ch 1–5)\n2023-09-05 — Discussion Session 2 (Ch 6–8)\n2023-09-19 — Discussion Session 3 (Ch 9–11)\n2023-09-26 — Discussion with Perry Mehrling\nThe Evolution of Central Banks by Charles Goodhart (1988)\n2023-10-03 — Discussion Session 1 (Ch 1–6)\n2023-10-17 — Discussion Session 2 (Ch 7–8\, Appendix)\nThe Repo Market: Shorts\, Shortages\, and Squeezes by Scott Skyrm (2023)\n2023-11-07 — Discussion Session 1 (pages 1–92)\n2023-11-21 — Discussion Session 2 (pages 93–186)\n2023-12-05 — Discussion Session 3 (pages 187–310) Part 1 — Part 2\n2023-12-12 — Discussion with Scott Skyrm From 39:20\nThe Volatility Machine: Emerging Economies and the Threat of Financial Collapse by Michael Pettis (2001)\n2023-12-19 — Discussion Session 1 (Ch 1–5)\n2024-01-02 — Discussion Session 2 (Ch 6–10)\n2024-01-09 — Discussion with Michael Pettis\nInternational Capital Movements by Charles P. Kindleberger (1987)\n2024-01-16 — Discussion Session 1 (Ch 1 & 2)\n2024-01-30 — Discussion Session 2 (Ch 3 & 4)\nA Political Theory of Money by Anush Kapadia (2024)\n2024-02-20 — Discussion Session 1 (Ch 1–4)\n2024-03-05 — Discussion Session 2 (Ch 5–7)\n2024-03-19 — Discussion Session 3 (Ch 8–12)\n2024-03-26 — Discussion with Anush Kapadia\nThe Rise of Central Banks: State Power in Financial Capitalism by Leon Wansleben (2023)\n2024-04-02 — Discussion Session 1 (Ch 1–3)\n2024-04-23 — Discussion Session 2 (Ch 4–6)\n2024-05-07 — Discussion with Leon Wansleben\nThe Money Illusion: Market Monetarism\, the Great Recession\, and the Future of Monetary Policy by Scott Sumner (2021)\n2024-05-14 — Discussion Session 1 (Parts 1 & 2)\n2024-05-28 — Discussion Session 2 (Parts 3 & 4)\n2024-06-18 — Discussion Session 3 (Parts 5 & 6)\n2024-06-25 — Discussion with Scott Sumner\nPrivate Money and Public Currencies: The Sixteenth Century Challenge: The Sixteenth Century Challenge by Boyer-Xambeu\, Deleplace\, and Gillard (1994)\n2024-07-02 — Discussion Session 1 (Ch 1–3)\n2024-07-16 — Discussion Session 2 (Ch 4 & 5)\n2024-07-30 — Discussion Session 3 (Ch 6\, 7 & Conclusion)\nThe Arena of International Finance by Charles A. Coombs (1976)\n2024-08-13 — Discussion Session 1 (Ch 1ー6)\n2024-08-27 — Discussion Session 2 (Ch 7–12)\nThe Bill on London: or The Finance of Trade by Bills of Exchange by Gillett Brothers (1952/1976)\n2024-09-17 — Discussion Session\nBirth of a Market: The U.S. Treasury Securities Market from the Great War to the Great Depression by Kenneth D. Garbade (2012)\n2024-10-01 — Discussion Session 1 (Ch 1–10)\n2024-10-15 — Discussion Session 2 (Ch 11–15)\n2024-10-29 — Discussion Session 3 (Ch 16–24)\nA Monetary and Fiscal History of the United States\, 1961–2021 by Alan S. Blinder (2022)\n2024-11-12 — Discussion Session 1 (Ch 1–7)\n2024-11-26 — Discussion Session 2 (Ch 8–13)\n2024-12-10 — Discussion Session 3 (Ch 14–19)\nBuilding a Ruin: The Cold War Politics of Soviet Economic Reform by Yakov Feygin (2024)\n2025-01-07 — Discussion Session 1 (Ch 1–3)\n2025-01-21 — Discussion Session 2 (Ch 4–6)\n2025-02-04 — Discussion Session 3 (Ch 7 & Afterword)\nA Crash Course on Crises: Macroeconomic Concepts for Run-Ups\, Collapses\, and Recoveries by Markus K. Brunnermeier and Ricardo Reis (2023)\n2025-02-25 — Discussion Session 1 (Parts 1 and 2)\n2025-03-11 — Discussion Session 2 (Parts 3 and 4)\nThe Empire of Value: A New Foundation for Economics by Andre Orlean (2014)\n2025-03-25 — Discussion Session 1 (Introduction and Part 1) Part 1 — Part 2\n2025-04-08 — Discussion Session 2 (Parts 2 and 3)\n2025-04-22 — Discussion Session 3 (Part 4 and Conclusion)\nThe Wheels of Commerce by Fernand Braudel (1979/1982)\n2025-05-06 — Discussion Session 1 (Chapter 1)\n2025-05-13 — Discussion Session 2 (Chapter 2)\n2025-05-20 — Discussion Session 3 (Chapter 3)\n2025-05-27 — Discussion Session 4 (Chapter 4)\n2025-06-03 — Discussion Session 5 (Chapter 5)\nBeyond Banks: Technology\, Regulation\, and the Future of Money by Dan Awrey (2024)\n2025-06-17 — Discussion Session 1 (Intro & Ch 1–3)\n2025-07-01 — Discussion Session 5 (Ch 4–7 & Conclusion)\n2025-07-08 — Discussion with Dan Awrey\nOur Dollar\, Your Problem: An Insider’s View of Seven Turbulent Decades of Global Finance by Kenneth Rogoff (2025)\n2025-08-19— Discussion Session 1 (Parts 1-3)\n2025-08-26 — Discussion Session 2 (Parts 4-6)\nCentral Banking Before 1800: A Rehabilitation by Ulrich Bindseil (2019)\n2025-09-01 — Discussion Session 1 (Ch 1&2)\n2025-09-15 — Discussion Session 2 (Ch 3–5)\n2025-09-29 — Discussion Session 3 (Ch 6&7)\n2025-10-13 — Discussion with Ulrich Bindseil\nThe Long Twentieth Century: Money\, Power and the Origins of Our Times by Giovanni Arrighi (2010)\n2025-10-20 — Discussion Session 1 (Ch 1&2)\n2025-11-03 — Discussion Session 2 (Ch 3)\n2025-11-10 — Discussion Session 3 (Ch 4)\nFragile by Design: The Political Origins of Banking Crises and Scarce Credit by Charles W. Calomiris and Stephen Haber (2014)\n2025-11-17 — Discussion Session 1 (Ch 1–5)\n2025-12-01 — Discussion Session 2 (Ch 6-9)\n2025-12-15 — Discussion Session 3 (Ch 10–15)\n2026-01-05 — Discussion with Charles Calomiris\nTreatise on Money by Joseph Schumpeter (1970/2014)\n2026-01-12 — Discussion Session 1 (Ch 1–3)\n2026-01-27 — Discussion Session 2 (Ch 4–7)\n2026-02-10 — Discussion Session 3 (Ch 8–10)\n2026-02-24 — Discussion Session 4 (Ch 11–12)\nBetween Payments and Credit: An Introduction to the IOU Economy by George Pantelopoulos (2025)\n2026-03-10 — Discussion Session 1 (Ch 1–5)\n2026-03-24 — Discussion Session 2 (Ch 6–10)\n2026-04-07 — Discussion Session 3 (Ch 11–13)\n2026-04-14 — Discussion with George Pantelopoulos\nAgainst Money by J. W. Mason and Arjun Jayadev (2026)\n2026-05-05 — Discussion Session 1 (ch 1–4)\n2026-05-12 — Discussion Session 2 (ch 5–7)\n2026-06-12 — Discussion with J.W. Mason\nOur Money: Monetary Policy as if Democracy Matters by Leah Downey (2025)\n2026-06-02 — Discussion Session 1 (Ch 1–3)\n2026-06-16 — Discussion Session 2 (Ch 4–8)\nThe History of Money: A Story of Humanity by David McWilliams (2024)\n2026-06-23 — Discussion Session 1 (Parts 1 & 2)\n2026-07-07 — Discussion Session 2 (Parts 3–5)\n\n\nOff-Week Sessions\n\n2021-05-19 BIS Working Paper: Breaking free of the triple coincidence in international finance (2015)\n2021-07-07 Global Domain of the Dollar: 8 Questions by Robert McCauley Author Discussion\n2021-07-28 BIS and Bank of England reports on Central Bank Digital Currencies\n2022-09-28 The Crypto Banking System by Sébastien Derivaux (2022) Author Discussion\n2023-04-05 Discussion of Silicon Valley Bank\n2023-04-19 Institutional Cash Pools by Zoltan Pozsar (2011)\n2023-05-03 BIS Bulletin #73: Stablecoins vs. Tokenized Deposits (May 3\, 2023)\n2023-07-05 The Credit–Money Hierarchy: a Republican \, Egalitarian Appraisal by Aaron James (2023)\n2023-07-26 Public Purpose Finance: The Government’s Role as Lender by Nadav Orian Peer (2020) Author Discussion 2023-10-24 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 1\n2023-10-31 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 2\n2023-11-14 ICMA Repo FAQ by Richard Comotto (2013/2019)\n2023-11-28 Basis Trades and Treasury Market Illiquidity by Daniel Barth & Jay Kahn (2020)\n2024-01-23 Capital flows and the current account by Borio and Disyatat (2015)\n2024-02-13 The dual currency system of Renaissance Europe by Luca Fantacci (2008)\n2024-02-27 BIS: Buy now\, pay later: a cross-country analysis by Cornelli et al. (2023)\n2024-03-12 The non-use of money in the Middle Ages by Bell\, Brooks\, and Moore (2017)\n2024-04-09 The Central Role of Credit Crunches in Recent Financial History by Albert M. Wojnilower (1980)\n2024-04-16 Measuring Equilibrium in the Balance of Payments by Charles P. Kindleberger (1969)\n2024-04-30 The Rise and Risks of Private Credit — GFSR (April\, 2024)\n2024-06-04 BIS Working Paper No 1100: Getting up from the floor by Claudio Borio (May\, 2023)\n2024-06-11 The Offshore Dollar and US Policy by Robert McCauley (May\, 2024)\n2024-07-09 The (impossible) repo trinity: the political economy of repo markets by Daniela Gabor (2016)\n2024-08-07 A Safe Haven for Hidden Risks (May 30\, 2024) and Rate Transformation (November 4\, 2023) by Elham Saeidinezhad\n2024-08-20 The Collateral Supply Effect on Central Bank Policy by Carolyn Sissoko (2020)\n2024-09-10 Monetary Policy Implications of Market Maker of Last Resort Operations by Anil K Kashyap (August 23\, 2024)\n2024-11-05 BIS Bulletin No 90: The market turbulence and carry trade unwind of August 2024 (August 27\, 2024)\n2024-11-19 Yen Carry Trade and the Subprime Crisis by Masazumi Hattori and Hyun Song Shin (2009)\n2024-12-03 After the Allocation: What Role for the Special Drawing Rights System? by Pforr\, Pape\, and Murau (2022)\n2025-01-14 Where Profits Come From by the Levy Forecasting Center by Levy\, Farnham\, & Rajan (2008/1997)\n2025-01-28 The Broad Consequences of Narrow Banking by Matheus R. Grasseli and Alexander Lipton (2019)\n2025-02-11 Failing Banks by Sergio Correia\, Stephen Luck\, and Emil Verner (2024)\n2025-02-18 Odd Lots — The Hidden History of Eurodollars by Lev Menand and Joshua Younger (January 2025)\n2025-03-04 Of Last Resort: Evaluating the Treasury-Equity Model of Federal Reserve Emergency Lending by Steven Kelly (2024)\n2025-03-18 Commercial Banking and Capital Formation I–IV by Harold Moulton (1918)\n2025-04-01 Climate Alignment For Banks: The Stories That Numbers Tell by Nadav Orian Peer (2025) Author Discussion\n2025-04-15 Shadow Banking: Why Modern Money Markets are Less Stable Than 19th c. Money Markets But Shouldn’t Be Stabilized by a ‘Dealer of Last Resort’ by Carolyn Sissoko (2014)\n2025-04-29 Treasury Market and the Basis Trade (Adrian et al. 2025; Kashyap et al. 2025)\n2025-06-10 Structural Changes in the Global Financial System lecture by Hyun Song Shin (May 19\, 2025)\n2025-06-24 International Regimes\, Transactions\, and Change: Embedded Liberalism in the Postwar Economic Order by John Gerard Ruggie (1982)\n2025-07-15 BIS Annual Report Chapter: Financial conditions in a changing global financial system (2025)\n2025-07-22 Banks Are Intermediaries of Loanable Funds by George Selgin (2024)\n2025-07-29 Theorising non-bank financial intermediation by Jo Michell (2024)\n2025-08-05 Banks are different: why bank-based versus market-based lending is a false dichotomy by Carolyn Sissoko (2024)\n2025-09-08 Did France Cause the Great Depression? by Douglas A. Irwin (2010)\n2025-09-22 Rethinking Monetary Sovereignty: The Global Credit Money System and the State by Murau and van’t Klooster (2023)\n2025-10-06 Rethinking currency internationalisation: offshore money creation and the EU’s monetary governance by Murau and van’t Klooster (2025)\n2025-10-27 BIS Bulletin No 114: “Financial channel implications of a weaker dollar for emerging market economies” by Juselius\, Wooldridge and Xia (October 13\, 2025)\n2025-11-24 Bubble or Nothing: Data Center Project Finance by Advait Arun (November 12\, 2025)\n2025-12-08 Discussion of Debate over Whether Money Multiplier Requires Cash Lending\n2026-01-20 Gresham’s Law by Charles P. Kindleberger (1989)\n2026-02-03 The Law of One Price by Charles P. Kindleberger (1989)\n2026-02-17 Bank Runs With and Without Bank Failures by Correia\, Luck\, and Verner (2026)\n2026-03-03 Monetary Experience and the Theory of Money by John Hicks (1977)\n2026-03-31 What Is Money (1913) and The Credit Theory of Money (1914) by A. Mitchell-Innes\n2026-04-21 Covered interest parity lost: understanding the cross-currency basis by Borio et al. (2016)\n2026-04-28 Decoupling Dollar and Treasury Privilege by Du\, Keerati\, and Schreger (2025)\n2026-06-30 FEDS Note: Decomposing Hedge Funds’ U.S. Treasury Exposures by Phillip J. Monin (June 22\, 2026)\n2026-07-14 The Chicago Plan Revisited by Benes and Kumhof (2012)
URL:https://heske.wisdmlabs.net/event/money-view-reading-group/2026-09-08/
CATEGORIES:A series of zooms
ATTACH;FMTTYPE=image/png:https://heske.wisdmlabs.net/wp-content/uploads/2023/12/lecture2-p4x2-hierarchy-pyramid-dynamics.png
LOCATION:https://heske.wisdmlabs.net/event/money-view-reading-group/2026-09-08/
END:VEVENT
BEGIN:VEVENT
DTSTART;VALUE=DATE:20260909
DTEND;VALUE=DATE:20260910
DTSTAMP:20260527T131604Z
CREATED:20260318T101859Z
LAST-MODIFIED:20260527T131604Z
UID:10008433-1788912000-1788998399@heske.wisdmlabs.net
SUMMARY:Industrial Policy\, Power\, and Development in a Fragmented Global Economy
DESCRIPTION:This project consists of a joint seminar organized by the IIPPE Political Economy of Industrial Development Working Group and the Young Scholars Initiative (YSI) States and Markets Working Group\, to be held on Wednesday 9 September 2026\, on the first day of the IIPPE Annual Conference in Lisbon. \nThe seminar will feature a keynote talk by Tilman Altenburg\, a leading scholar in the field of political economy and industrial development. The talk will address contemporary debates on industrial policy\, development strategies\, and the role of the state in a context of global fragmentation\, geopolitical tensions\, and technological transitions. The event aims to foster dialogue between senior and early-career researchers\, linking theoretical perspectives with ongoing empirical and policy-oriented discussions. \nThe project is closely aligned with the theme of the IIPPE 2026 Annual Conference\, “Capitalism Moving Beyond Neoliberalism: Crises\, Changes\, and What Comes Next.” The conference framing highlights how the post-1980 neoliberal configuration—built around financialization\, “free markets\,” limited fiscal activism\, and globalized production patterns—has been increasingly destabilized by multiple crises\, especially since the Global Financial Crisis and more sharply in recent years. It points to major shifts such as the renewed use of fiscal policy\, the return of developmental and industrial policies\, and the growing emphasis on “onshoring” and strategic restructuring of production\, even as financialization persists in new forms. By focusing on industrial policy\, state strategies\, and development in a fragmented and conflictual global economy\, this seminar directly contributes to the conference’s central question about whether—and how—contemporary capitalism is moving beyond neoliberalism\, and what political-economic configurations may be emerging. \nIn addition to the keynote seminar\, the project includes the support of a limited number of travel stipends for early-career scholars. The selected presenters will actively participate in the IIPPE Working Group sessions during the conference\, presenting their research and engaging in the broader academic discussions of the Working Group\, in addition to attending the keynote seminar. \nThe initiative is designed to strengthen the integration of early-career researchers into the IIPPE community by encouraging sustained participation in Working Group activities\, networking with senior scholars\, and the development of longer-term research exchanges.
URL:https://heske.wisdmlabs.net/event/industrial-policy-power-and-development-in-a-fragmented-global-economy/
LOCATION:University Institute of Lisbon and ICS – Lisbon University\, Lisbon\, Portugal
CATEGORIES:An in-person event
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UID:10008471-1789027200-1789059600@heske.wisdmlabs.net
SUMMARY:YSI Pre-conference @ International Conference in Ecological Macroeconomics
DESCRIPTION:The Keynesian Working Group of the Young Scholars Initiative (YSI) is pleased to announce a call for abstracts for the YSI Pre-conference session at the inaugural International Conference in Ecological Macroeconomics\, to be held at the University of Florence\, Italy\, on September 10–12\, 2026. \nEcological Macroeconomics is an emerging field at the intersection of macroeconomics\, ecological economics\, and complexity science. It develops theoretical and modelling frameworks that embed economic systems within biophysical limits\, explicitly address inequality and social justice\, and explore de-growth and post-growth development pathways through scenario analysis rather than optimisation. \nThis inaugural international conference aims to bring together scholars\, early-career researchers\, students\, and practitioners working on ecological macroeconomic theory and modelling\, with particular attention to applications relevant to the Global South and to the design of policies supporting a just ecological transition. \nThe conference will be preceded by the Second Edition of the Summer School in Ecological Macroeconomic Modelling\, which this year focuses on the Global South.  More information about the summer school can be found here. \n  \nCall for Abstracts \nWe invite young scholars to submit abstracts presenting their ongoing research\, research projects\, or work in progress (maximum 500 words). \nSelected applicants will have the opportunity to present their research during the YSI pre-conference session at the I International Conference in Ecological Macroeconomics. This represents an excellent opportunity for young researchers to discuss their work\, receive feedback from senior scholars\, and engage with an international research community working on ecological macroeconomics and sustainability transitions. \n\nHow to Apply \nYoung scholars can submit their abstracts through the following form: Apply here! Applications will be evaluated based on the relevance and proximity with the conference themes. If selected\, applicants will be invited to present their work at the YSI pre-conference session. Priority will be given to participants in the summer school\, but all interested young scholars are warmly encouraged to apply. \nSelected young scholars may expect to receive accommodation\, participation in the YSI social dinner and exemption from the conference participation fee. \n\nConfirmed Keynote Speakers \nXi Ji. Tenured Associate Professor and Senior Researcher at the School of Economics\, Peking University (PKU). As Chief Economist of China’s National Social Science Major Project\, she leads a research group focusing on Ecological Economics\, Genuine Progress and Wellbeing\, Ecological Civilization\, and Ecological Institutions in China. \nYannis Dafermos. Reader in Economics at SOAS University of London and currently serving as the Head of the Department of Economics. His research focuses on ecological and financial macroeconomics\, climate finance\, climate-aligned development\, inequalities\, and the political economy of the green transition. \nMario Giampietro. Recently retired from the Catalan Institution for Research and Advanced Studies (ICREA)\, Barcelona. Until September 2023\, he was ICREA Research Professor at the Institute of Environmental Science and Technology of the Universitat Autònoma de Barcelona\, Spain\, where he dedicated his academic career to the integrated assessment of (uncomfortable) sustainability issues using concepts from complex systems theory. Presently he is collaborating with the European Centre for Governance in Complexity (ECGC) in Norway\, where his research is focused on the bioeconomy\, biosemiotics\, post-normal science\, and governance in complexity. He has (co)authored over 150 publications\, including six books. \nTiziano Distefano. Associate Professor in Ecological Economics at the Department of Economics\, University of Florence (Italy)\, serving on the Board of two doctoral programs: Social Sciences for Sustainability and Wellbeing (S3W) and Urban Future Studies (UFS). Principal Investigator of the PRIN PNRR Project “MUST4Water” and previously led the MIT-UNIPI MISTI Grant project “EMERITUS” in collaboration with MIT and Virginia Tech. In 2024-25\, he was elected to the Board of the International Society for Ecological Economics (ISEE). \n  \nImportant Dates \nAbstract submission deadline: May 18th\, 2026 \nNotification of acceptance: May 22th\, 2026 \nSummer School in Ecological Macroeconomics and the Gloubal South: September 7-9\, 2026. \nI International Conference in Ecological Macroeconomics Modelling: September 10-12\, 2026. \n  \nContact us for any further queries. \nLaura Colli – laura.colli1@unifi.it\nVinícius Centeno – vinicius.dasilvacenteno@unifi.it\nPedro Serra – pedro.solano22@uva.es\nGuilherme Morlin – guilherme.morlin@unipi.it
URL:https://heske.wisdmlabs.net/event/ysi-pre-conference-international-conference-in-ecological-macroeconomics/
LOCATION:University of Florence\, Florence\, Italy
CATEGORIES:An in-person event
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UID:10008201-1789480800-1789486200@heske.wisdmlabs.net
SUMMARY:Money View Reading Group
DESCRIPTION:The Money View Reading Group reads and discusses writings on money\, banking\, and finance. We are a self-directed group. Anyone interested in money and banking can read the readings\, join us for discussions\, or suggest future readings.\nWe meet for 90 minutes via Zoom on Tuesdays at 2 pm Eastern Time US (New York). \n\nCurrent Book\n\n\nAfter the Accord: A History of Federal Reserve Open Market Operations\, the US Government Securities Market\, and Treasury Debt Management from 1951 to 1979\n\nby Kenneth D. Garbade (2021) \nhttps://www.amazon.com/dp/1108839894/ \nFrom the description \nIn this book Garbade\, a former analyst at a primary dealer and researcher at the Federal Reserve Bank of New York\, traces the evolution of open market operations\, Treasury debt management\, and the microstructure of the US government securities markets following the 1951 Treasury-Federal Reserve. This volume examines how these operations evolved\, responding both to external forces and to one another. Utilising a vast scope of primary material\, the work provides insight into how officials fashioned the instruments\, facilities\, and procedures needed to advance their policy objectives in light of their novel freedoms and responsibilities. \nThis is a big book. As we did with Braudel’s The Wheel’s of Commerce last summer\, we are discussing this book in five back-to-back weekly sessions. \n\nUpcoming Sessions\n\n\n2026-07-21 – 2:00pm EDT\n\nDuring the off week\, we discuss Arthur C. Pigou’s Famous 1917 paper\, “The Value of Money.” \nhttps://www.jstor.org/stable/1885078?seq=1 \n\n2026-07-28 — 2:00pm EDT\n\nIn our first of five sessions\, we discuss Parts 1 and 2 of After the Accord by Kenneth Garbade. \n\nChapter 1: Introduction\n\nOpen Market Operations After the Accord\n\nBills Preferably\nRepurchase Agreements\nOpen Market Operations in Coupon-Bearing Debt\n\n\nTreasury Debt Management After the Accord\n\n\nPart I: The System and the Market in the 1940s\n\nChapter 2: The Government Securities Market\n\nWartime Interest Rate Ceilings\nFrom the End of the War to the End of 1949\nBill Auctions\nCash Subscription Offerings\nExchange Offerings\nAn Example\nThe Secondary Market\nThe Postwar Secondary Market\nThe Role of Dealers in Primary Market Offerings\n\n\nChapter 3: Reserves\, Reserve Requirements\, and Reserves Management\n\nReserve Requirements\n\nDemand Deposits\n\n\nReserves in Aggregate\nThe Inter-Bank Market for Federal Funds\nReserves Management\nAppendix: Treasury Cash Management\nAppendix: Identifying the Sources and Uses of Reserves\n\n\nChapter 4: The Institutional Framework of Open Market Operations\n\nThe Recognized Dealer Program\n\nFormalization of the Recognized Dealer Program\n\n\nAdvent of the Qualified Dealer Program\n\nRevising the Institutional Framework of Open Market Operations\nImplementing the Revised Framework\nThe Qualified Dealer Program at the End of the 1940s\n\n\nAppendix: Orderly Markets\n\nA Reexamination\n\n\n\n\n\n\nPart II: The Accord and Its Aftermath\n\nChapter 5: The Accord\n\nRun-Up to the Accord\nThe Accord\n\nThe Nomarketable Bond Offering\n\n\nAfter the Accord\n\n\nChapter 6: Taking Stock\n\nThe New York Reserve Bank Study\n\nThe Existing Framework\nProspects for Fundamental Change\n\nAn Exchange Market\nDirect Trading by Federal Reserve Banks\nReliance on Nonmarketable Long-Term Debt\n\n\nProspects for More Modest Changes\n\nExpanding the Number of Qualified Dealers\n\n\nRelations between the System and the Treasury\nSumming Up\n\n\nThe Ad Hoc Subcommittee Study\n\nSystem Intervention\n\nBills Preferably\nTreasury Financings\n\n\nDealer Qualification Requirements\nMarket Intelligence\n\n\n\n\nChapter 7: New Directions\n\nMarket Intervention\nDealer Relations\n\nMarket Intelligence\n\n\nSubsequent Actions\n\nThe End of the Qualified Dealer Program\nPublicizing the New Restrictions on Market Intervention\n\n\n\n\nChapter 8: Challenging the New Restrictions\n\nThe April 1953 Bond Offering\nThe Mid-May Executive Committee Meetings\n\nThe May 6 Meeting\nThe May 13 Meeting\nSystem Open Market Account Activity and Reserve Availability in May\n\n\nBreakdown and Intervention\nRevisiting the Restrictions on Intervention\n\nReimposition\n\n\nThe Controversy Becomes Public\n\n\nChapter 9: An Additional Limitation on the Conduct of Open Market Operations\n\nA Swap Authorization\nPushback\nRound Two\n\n\n\n\n\n\n2026-08-04 — 2:00pm EDT\n\nIn our second of five sessions\, we discuss Part 3 of After the Accord by Kenneth Garbade. \n\nPart III: The New Regime\n\nChapter 10: Monetary Policy in 1954\n\nMonitoring Economic Activity\nMonetary Policy\n\nThe Directives\nThe Minutes\n\n\nCaveats\n\n\nChapter 11: Policy Instruments for Reserves Management\n\nOutright Purchases and Sales of Treasury Bills\nRepurchase Agreements on Short-Term Treasury Securities\n\nRepurchase Agreements before the Accord\nPostwar Reinstatement\nLinking the Floor on Repo Rates to the Treasury Bill Rate Instead of the Discount Rate\nConsequences of the Accord\nRepurchase Agreements in 1954\nRobertson’s Resistance to System Repurchase Agreements\nThe Opening Round\nRobertson’s Critique\nA Proposal\nReconciliation\nSubsequent Events\n\n\n\n\nChapter 12: Monetary Policy in 1955\n\nFOMC Directives\nMoney Market Indicators\nTreasury Offerings of Coupon-Bearing Debt\n\nAttrition on Exchange Offerings\nMaintaining an Even Keel\n\n\nDefensive Operations\n\nWhen Reserves Needed to Be Drained\nTwo Work-Arounds\n\n\n\n\nChapter 13: Pragmatism in the Accommodation of Treasury Offerings\n\nRepurchase Agreements on Rights\nIntervention\nIntervention by Another Name\n\n\nChapter 14: 1956 and 1957\n\nDefensive Operations\n\nCurrency\nFloat\nTreasury Balances at Federal Reserve Banks\nForecasting Errors\n\n\nAccommodating Treasury Offerings\n\nThe May 1957 Refunding\nSubsequent Offerings in 1957\n\n\nThe Continuing Importance of Repurchase Agreements\n\n\n\n\n\n\n2026-08-11 — 2:00pm EDT\n\nIn our third of five sessions\, we discuss Parts 4 and 5 of After the Accord by Kenneth Garbade. \n\nPart IV: Summer 1958 and Its Consequences\n\nChapter 15: The Summer 1958 Treasury Financings\n\nAn Overview of 1958\nRun-Up to the June Financing\nThe June Financing\n\nResults of the Financing\n\n\nThe Aftermath of the June Financing\n\nThe Treasury Enters the Market\nTrading on July 8\nTreasury Reveals Its Purchases\n\n\nIraq and Lebanon\nThe July Refunding\n\nFriday\, July 18\nThe Subscription Period (Monday\, July 21 to Wednesday\, July 23)\nDenouement\n\n\nAftermath to the July Refunding\n\n\nChapter 16: Innovations in Treasury Debt Management\n\nA Need for Change\n\nTreasury Issuance of Coupon-Bearing Debt from 1953 to 1958\nGaines’s Critique\nTreasury Bills – A Bright Spot\nFriedman’s Recommendations\n\n\nTreasury’s Innovations\n\nIssuing and Redeeming Coupon-Bearing Debt on a Regular Schedule\nTwenty-Six-Week Bills\nCash Refundings\nThe Problem of SOMA Reinvestments\nAdvance Refundings\nWhy the Treasury Declined to Extend the Auction Process to Coupon-Bearing Securities\n\n\n\n\nChapter 17: The Treasury-Federal Reserve Study of the Government Securities Market\n\nMarket Statistics\n\nAdvent of the Reporting Dealer Program\n\nInitial Discussions\nA Joint Staff Proposal\nImplementation\n\n\n\n\nDealer Finance\nProspects for a Dealer Association\n\n\n\n\nPart V: The End of Bills Preferably\n\nChapter 18: The 1958-1960 Gold Drain\n\nGold in the International Payments System\nThe London Gold Market\nThe Place of Gold in FOMC Deliberations\nThe Break-out of London Gold Prices\nThe Place of Gold in FOMC Deliberations After the Break-out\nContemplating the Future\n\n\nChapter 19: Operation Twist\n\nHow Economists Viewed the Term Structure of Interest Rates\nThe February 7 Executive Session of the Federal Open Market Committee\nConducting Open Market Operations in Longer-Term Securities\nWhat\, Exactly\, Were the Objectives of the New Program?\nDisengagement?\nThe Scale of Open Market Operations in Longer-Term Securities\nAbandoning the 1953 Operating Principles\nOperation Twist After 1961\n\nNew Policy Instruments\nNew Empirical Evidence\n\n\nThe End of $35 Gold\n\n\n\n\n\n\n2026-08-18 — 2:00pm EDT\n\nIn our fourth of five sessions\, we discuss Parts 6 and 7 of After the Accord by Kenneth Garbade. \n\nPart VI: The 1960s\n\nChapter 20: Treasury Debt Management in the 1960s\n\nSecular Variation of Marketable Debt\nTreasury Bills\n\nRegular Bills\nBill Strips\nTax Anticipation Bills\n\n\nCertificates\, Notes\, and Bonds\n\nMid-Quarter Refundings\nStand-Alone Offerings for New Money\nAdvance Refundings\n\nAdvance Refundings after Mid-1965\n\n\n\n\nThe Two Worlds of Treasury Finance\n\nAn Experiment in Auctioning Bonds\n\n\n\n\nChapter 21: Monetary Policy in the 1960s\n\n1961 to 1965\n1966\n\nThe August Money Panic\n\n\n\n\nChapter 22: Repurchase Agreements in the 1960s\n\nSystem Access to Repo Collateral\n\nRelaxing the Two-Year Maturity Limit\nEliminating the Two-Year Maturity Limit and Permitting Back-to-Back Repos\nSystem Repos on Agency Collateral\n\n\nMatched Sale-Purchase Agreements\nAn Unsuccessful Effort to Introduce More Flexible Repo Pricing\n\n\n\n\nPart VII: Updating Market Infrastructures: The Joint Study\n\nChapter 23: The Association of Primary Dealers\n\nArrivals and Departures\nFederal Reserve and Treasury Thinking About a Dealer Association\nPrecipitating Events\nFormation of the Association of Primary Dealers\n\n\nChapter 24: Dealer Finance\n\nDealer Finance and the Role of Money Market Banks as Residual Lenders\nRecommendations of the Joint Study Steering Committee\nResponse of the Federal Open Market Committee\n\n\nChapter 25: The Government Securities Clearing Arrangement\n\nSettling Transactions in Treasury Securities Before 1965\n\nIntracity Settlements\nCPD Settlement\n\n\nOrigins of the Clearing Arrangement\nThe Pilot Program\nIntracity Transfers\nBalancing the Demands of Competing Settlement Systems\nRemarks\n\n\nChapter 26: Securities Lending\n\nThe Impetus for a Federal Reserve Securities Lending Program\nThe Joint Study Proposal\n\nThe Staff Study\nDiscussion by the Steering Committee\nThe FOMC Response\n\n\nThe 1969 Fails Crisis\nThe FOMC Revisits Securities Lending\nWhether to Lend Against Short Sales\n\n\nChapter 27: The Book-Entry System\, Part I\n\nOrigins of the Book-Entry System\nIssues in Creating a Book-Entry System\nThe First Implementation\nThe Second Implementation\nWhat Remained to be Done\n\n\n\n\n\n\n2026-08-25 — 2:00pm EDT\n\nIn our last of five sessions\, we discuss Parts 8 and 9 of After the Accord by Kenneth Garbade. \n\nPart VIII: The 1970s\n\nChapter 28: Treasury Debt Management in the 1970s\n\nMarketable Treasury Debt in the 1970s\n\nRegular Bills\nThirteen- and Twenty-Six-Week Bills\nNine-Month Bills and One-Year Bills\nBill Strips\nIrregular Bills\nNotes and Bonds\nAverage Maturity\n\n\nThe Introduction of Treasury Note and Bond Auctions\n\nThe May 1970 Refunding\nThe First Auction\nSubsequent Auction Offerings of Notes and Bonds\nConsequences of Bond Auctions for Advance Refundings\nFine-Tuning the Auction Process\n\nA Failed Auction and the Advent of Yield Auctions\nThe End of Single-Price Auctions\n\n\nA Last Harrah for Fixed-Price Offerings\n\n\nThe Advent of Regular and Predictable Note and Bond Offerings\n\nThe Introduction of Two-Year Cycle Notes\nExtending Regular and Predictable Issuance to Intermediate-Term Notes\nMid-Quarter Refundings and Fifteen-Year Bonds\n\n\nA Recapitulation of Treasury Debt Management Innovations in the 1970s\n\n\nChapter 29: Monetary Policy in the 1970s\n\n1970-1971\n1972-1973\n1974-1979\nFluctuations in Autonomous Factors\n\nTreasury Deposits at Federal Reserve Banks\nFloat\nBank Borrowing at the Discount Window\n\n\nThe End (Sort of) of Even Keel\n\n\nChapter 30: Open Market Operations in the 1970s\n\nThe Operating Environment\n\nTreasury Cash Management\n\n\nThe Continuing Problem with Liquidity\n\nCompetitive Repo Pricing\nSystem Repos with Bank Dealers\nAnother Way Around the Barn\n\n\nOutright Transactions in Federal Agency Debt\n\nReconsideration\nSubsequent Events\n\n\n\n\n\n\nPart IX: Infrastructure in the 1970s\n\nChapter 31: The Secondary Market in the 1970s\n\nPrimary Dealers\nThe Interdealer Broker Market\n\nManaging the Risks of Blind Brokerage\nSeparating Reporting Dealer Status from Primary Dealer Status\n\n\nThe Rise of Screen Brokers\n\n\nChapter 32: The Book-Entry System\, Part II\n\nThe Insurance Crisis\nExpansion of the Book-Entry System\nConfronting the Limits of Technology\nThe End of the GSCA and the End of Definitive Securities\n\n\nChapter 33: Coda\n\nInitial Actions\n\nThe 1953 Operating Principles\nEven Keeling\n\n\nA Metaphor for Change\nTreasury Debt Management\n\nAuctions of Coupon-Bearing Debt\n\n\nOpen Market Operations\nFailed and Supplanted Initiatives\nInter-Agency Accommodations\n\nOperation Twist\nTreasury Cash Management\nCash Management Bills\n\n\nMarket Infrastructure\n\nGovernment Securities Clearing Arrangement\nBook-Entry II\nSecurities Lending\nThe Association of Primary Dealers in US Government Securities\n\n\nRecapitulation\n\n\nChapter 34: After 1979\n\nTreasury Debt Management\n\nNew Securities\nAuction Innovations\n\n\nMarket Infrastructure\n\nDrysdale\nESM and Bevill\, Bresler\nThe Government Securities Clearing Corporation\nAccess to the Interdealer Broker Market\n\n\n\n\n\n\n\n\nFuture Suggested Readings\n\n\nHow a Ledger Became a Central Bank: A Monetary History of the Bank of Amsterdam by Quinn and Roberds (2023)\nThe Almighty Dollar: 500 Years of the World’s Most Powerful Money by Brendan Greeley (2026)\nWell Worth Saving: How the New Deal Safeguarded Home Ownership by Fishback\, Rose\, and Snowden (2013)\nSlapped by the Invisible Hand: The Panic of 2007 by Gary Gorton (2010)\nThe House of Morgan by Ron Chernow (1990)\nA Study of Money Flows in the United States by Morris Copeland (1952)\nA History of the Greenbacks by Wesley Clair Mitchell (1903)\nCalming the Storms: The Carry Trade\, the Banking School and British Financial Crises Since 1825 by Charles Read (2023)\nBenjamin Strong: Central Banker by Lester V. Chandler (1958)\nAn Engine\, Not a Camera: How Financial Models Shape Markets by Donald MacKenzie (2007)\nCurrency and Credit (4e) by Ralph Hawtrey (1950)\nThe Golden Age of the Quantity Theory by David Laidler (1991)\nCapitalizing on Crisis: The Political Origins of the Rise of Finance by Greta Krippner (2011)\nThe Federal Reserve System by Paul Warburg (1930)\nCentral Bank Capitalism: Monetary Policy in Times of Crisis by Joscha Wullweber (2024)\nIntroduction to Central Banking by Ulrich Bindseil and Alessio Fota (2021)\nThe Chairman: John J. McCloy & The Making of the American Establishment by Kai Bird (1992)\nManias\, Panics\, and Crashes (8e) by Robert McCauley (2023)\nThe Bailout State: Why Governments Rescue Banks\, Not People by Martijn Konings (2025)\n\n\nPast Readings with Discussion Recordings\n\n\nMinsky by Daniel H. Neilson (2019)\n2021-03-24 — Discussion Session 1\n2021-03-31 — Discussion Session 2\n2021-04-07 — Discussion with Daniel Neilson\nThe Art of Central Banking (Chapter IV) by Ralph Hawtrey (1933)\n2021-04-21 — Discussion Session 1\n2021-05-05 — Discussion Session 2\n2021-05-26 — Discussion with David Glasner\nMaking Money: Coin\, Currency\, and the Coming of Capitalism by Christine Desan (2014)\n2021-06-02 — Discussion Session 1\n2021-06-16 — Discussion Session 2\n2021-06-30 — Discussion Session 3\n2021-07-14 — Discussion with Christine Desan\nMoney in a Theory of Finance by John G. Gurley\, Edward S. Shaw (1960)\n2021-07-21 — Discussion Session 1\n2021-08-04 — Discussion Session 2\n2021-08-18 — Discussion Session 3\nThe World in Depression\, 1929-1939 by Charles P. Kindleberger (1973)\n2021-09-01 — Discussion Session 1\n2021-09-15 — Discussion Session 2\n2021-09-29 — Discussion Session 3\nThe Rise of Carry by Jamie Lee et al (2019)\n2021-10-13 — Discussion Session 1\n2021-10-27 — Discussion Session 2\nThe Money Interest and the Public Interest by Perry Mehrling (1998)\n2021-11-10 — Discussion Session 1 | Allyn Young\n2021-11-24 — Discussion Session 2 | Alvin Hanson\n2021-12-08 — Discussion Session 3 | Edward Shaw\nControlling Credit by Eric Monnet (2018)\n2022-01-05 — Discussion Session 1\n2022-01-19 — Discussion Session 2\nThe Menace of Fiscal QE by George Selgin (2020)\n2022-02-02 — Discussion Session\nThe New Lombard Street by Perry Mehrling (2011)\n2022-02-23 — Discussion Session 1\n2022-03-09 — Discussion Session 2\n2022-03-23 — Discussion Session 3\nFighting Financial Crises: Learning from the Past by Gary Gorton\, Ellis Tallman (2021)\n2022-04-20 — Discussion Session 1\n2022-05-11 — Discussion Session 2\nMoney and empire: The international gold standard\, 1890-1914 by Marcello De Cecco (1974)\n2022-05-25 — Discussion Session 1\n2022-06-15 — Discussion Session 2\nCentral Bank Cooperation 1924-31 by Stephen Clarke (1967)\n2022-06-22 — Discussion Session 1\n2022-07-06 — Discussion Session 2\nThe Money Problem: Rethinking Financial Regulation by Morgan Ricks (2016)\n2022-07-27 — Discussion Session 1\n2022-08-10 — Discussion Session 2\n2022-08-17 — Discussion with Morgan Ricks\nThe Evolution of Central Banking: Theory and History by Stefano Ugolini (2017)\n2022-08-24 — Discussion Session 1\n2022-09-07 — Discussion Session 2\n2022-09-21 — Discussion Session 3\n2022-10-05 — Discussion with Stefano Ugolini\nA Financial History of Western Europe by Charles P. Kindleberger (1984\, 1993)\n2022-10-19 — Discussion Session 1 | Part 1: Money\n2022-11-02 — Discussion Session 2 | Part 2: Banking\n2022-11-16 — Discussion Session 3 | Part 3: Finance\n2023-01-11 — Discussion Session 4 | Part 4: The Interwar Period\n2023-01-18 — Discussion Session 5 | Part 5: After World War II\nMoney and Empire: Charles P. Kindleberger and the Dollar System by Perry Mehrling (2022)\n2022-11-30 — Discussion Session 1 | Part 1: Intellectual Formation\, 1910–1948\n2022-12-14 — Discussion Session 2 | Part 2: International Economist\, 1948–1976\n2022-12-21 — Discussion Session 3 | Part 3: Historical Economist\, 1976–2003\n2022-12-21 — Discussion #1 with Perry Mehrling\n2023-01-04 — Discussion #2 with Perry Mehrling\nBonds without Borders: A History of the Eurobond Market by Chris O’Malley (2015)\n2023-02-15 — Discussion Session 1\n2023-03-01 — Discussion Session 2\nMonetary Policy Operations and the Financial System by Ulrich Bindseil (2014)\n2023-03-15 — Discussion Session 1 (Ch 1-8)\n2023-03-29 — Discussion Session 2 (Ch 9-12)\n2023-04-12 — Discussion Session 3 (Ch 13-18)\nCapital Wars: The Rise of Global Liquidity by Michael J. Howell (2020)\n2023-04-26 — Discussion Session 1 (Ch 1-7)\n2023-05-10 — Discussion Session 2 (Ch 8-14)\nA Market Theory of Money by John Hicks (1989)\n2023-05-24 — Discussion Session 1 (Ch 1-7)\n2023-06-07 — Discussion Session 2 (Ch 8-15)\nThe Currency of Politics: The Political Theory of Money from Aristotle to Keynes by Stefan Eich (2022)\n2023-06-28 — Discussion Session 1 (Ch 1 & 2)\n2023-07-19 — Discussion Session 2 (Ch 3 & 4)\n2023-08-02 — Discussion Session 3 (Ch 5 & 6)\n2023-08-14 — Discussion with Stefan Eich\nFischer Black and the Revolutionary Idea of Finance by Perry Mehrling (2005)\n2023-08-22 — Discussion Session 1 (Ch 1–5)\n2023-09-05 — Discussion Session 2 (Ch 6–8)\n2023-09-19 — Discussion Session 3 (Ch 9–11)\n2023-09-26 — Discussion with Perry Mehrling\nThe Evolution of Central Banks by Charles Goodhart (1988)\n2023-10-03 — Discussion Session 1 (Ch 1–6)\n2023-10-17 — Discussion Session 2 (Ch 7–8\, Appendix)\nThe Repo Market: Shorts\, Shortages\, and Squeezes by Scott Skyrm (2023)\n2023-11-07 — Discussion Session 1 (pages 1–92)\n2023-11-21 — Discussion Session 2 (pages 93–186)\n2023-12-05 — Discussion Session 3 (pages 187–310) Part 1 — Part 2\n2023-12-12 — Discussion with Scott Skyrm From 39:20\nThe Volatility Machine: Emerging Economies and the Threat of Financial Collapse by Michael Pettis (2001)\n2023-12-19 — Discussion Session 1 (Ch 1–5)\n2024-01-02 — Discussion Session 2 (Ch 6–10)\n2024-01-09 — Discussion with Michael Pettis\nInternational Capital Movements by Charles P. Kindleberger (1987)\n2024-01-16 — Discussion Session 1 (Ch 1 & 2)\n2024-01-30 — Discussion Session 2 (Ch 3 & 4)\nA Political Theory of Money by Anush Kapadia (2024)\n2024-02-20 — Discussion Session 1 (Ch 1–4)\n2024-03-05 — Discussion Session 2 (Ch 5–7)\n2024-03-19 — Discussion Session 3 (Ch 8–12)\n2024-03-26 — Discussion with Anush Kapadia\nThe Rise of Central Banks: State Power in Financial Capitalism by Leon Wansleben (2023)\n2024-04-02 — Discussion Session 1 (Ch 1–3)\n2024-04-23 — Discussion Session 2 (Ch 4–6)\n2024-05-07 — Discussion with Leon Wansleben\nThe Money Illusion: Market Monetarism\, the Great Recession\, and the Future of Monetary Policy by Scott Sumner (2021)\n2024-05-14 — Discussion Session 1 (Parts 1 & 2)\n2024-05-28 — Discussion Session 2 (Parts 3 & 4)\n2024-06-18 — Discussion Session 3 (Parts 5 & 6)\n2024-06-25 — Discussion with Scott Sumner\nPrivate Money and Public Currencies: The Sixteenth Century Challenge: The Sixteenth Century Challenge by Boyer-Xambeu\, Deleplace\, and Gillard (1994)\n2024-07-02 — Discussion Session 1 (Ch 1–3)\n2024-07-16 — Discussion Session 2 (Ch 4 & 5)\n2024-07-30 — Discussion Session 3 (Ch 6\, 7 & Conclusion)\nThe Arena of International Finance by Charles A. Coombs (1976)\n2024-08-13 — Discussion Session 1 (Ch 1ー6)\n2024-08-27 — Discussion Session 2 (Ch 7–12)\nThe Bill on London: or The Finance of Trade by Bills of Exchange by Gillett Brothers (1952/1976)\n2024-09-17 — Discussion Session\nBirth of a Market: The U.S. Treasury Securities Market from the Great War to the Great Depression by Kenneth D. Garbade (2012)\n2024-10-01 — Discussion Session 1 (Ch 1–10)\n2024-10-15 — Discussion Session 2 (Ch 11–15)\n2024-10-29 — Discussion Session 3 (Ch 16–24)\nA Monetary and Fiscal History of the United States\, 1961–2021 by Alan S. Blinder (2022)\n2024-11-12 — Discussion Session 1 (Ch 1–7)\n2024-11-26 — Discussion Session 2 (Ch 8–13)\n2024-12-10 — Discussion Session 3 (Ch 14–19)\nBuilding a Ruin: The Cold War Politics of Soviet Economic Reform by Yakov Feygin (2024)\n2025-01-07 — Discussion Session 1 (Ch 1–3)\n2025-01-21 — Discussion Session 2 (Ch 4–6)\n2025-02-04 — Discussion Session 3 (Ch 7 & Afterword)\nA Crash Course on Crises: Macroeconomic Concepts for Run-Ups\, Collapses\, and Recoveries by Markus K. Brunnermeier and Ricardo Reis (2023)\n2025-02-25 — Discussion Session 1 (Parts 1 and 2)\n2025-03-11 — Discussion Session 2 (Parts 3 and 4)\nThe Empire of Value: A New Foundation for Economics by Andre Orlean (2014)\n2025-03-25 — Discussion Session 1 (Introduction and Part 1) Part 1 — Part 2\n2025-04-08 — Discussion Session 2 (Parts 2 and 3)\n2025-04-22 — Discussion Session 3 (Part 4 and Conclusion)\nThe Wheels of Commerce by Fernand Braudel (1979/1982)\n2025-05-06 — Discussion Session 1 (Chapter 1)\n2025-05-13 — Discussion Session 2 (Chapter 2)\n2025-05-20 — Discussion Session 3 (Chapter 3)\n2025-05-27 — Discussion Session 4 (Chapter 4)\n2025-06-03 — Discussion Session 5 (Chapter 5)\nBeyond Banks: Technology\, Regulation\, and the Future of Money by Dan Awrey (2024)\n2025-06-17 — Discussion Session 1 (Intro & Ch 1–3)\n2025-07-01 — Discussion Session 5 (Ch 4–7 & Conclusion)\n2025-07-08 — Discussion with Dan Awrey\nOur Dollar\, Your Problem: An Insider’s View of Seven Turbulent Decades of Global Finance by Kenneth Rogoff (2025)\n2025-08-19— Discussion Session 1 (Parts 1-3)\n2025-08-26 — Discussion Session 2 (Parts 4-6)\nCentral Banking Before 1800: A Rehabilitation by Ulrich Bindseil (2019)\n2025-09-01 — Discussion Session 1 (Ch 1&2)\n2025-09-15 — Discussion Session 2 (Ch 3–5)\n2025-09-29 — Discussion Session 3 (Ch 6&7)\n2025-10-13 — Discussion with Ulrich Bindseil\nThe Long Twentieth Century: Money\, Power and the Origins of Our Times by Giovanni Arrighi (2010)\n2025-10-20 — Discussion Session 1 (Ch 1&2)\n2025-11-03 — Discussion Session 2 (Ch 3)\n2025-11-10 — Discussion Session 3 (Ch 4)\nFragile by Design: The Political Origins of Banking Crises and Scarce Credit by Charles W. Calomiris and Stephen Haber (2014)\n2025-11-17 — Discussion Session 1 (Ch 1–5)\n2025-12-01 — Discussion Session 2 (Ch 6-9)\n2025-12-15 — Discussion Session 3 (Ch 10–15)\n2026-01-05 — Discussion with Charles Calomiris\nTreatise on Money by Joseph Schumpeter (1970/2014)\n2026-01-12 — Discussion Session 1 (Ch 1–3)\n2026-01-27 — Discussion Session 2 (Ch 4–7)\n2026-02-10 — Discussion Session 3 (Ch 8–10)\n2026-02-24 — Discussion Session 4 (Ch 11–12)\nBetween Payments and Credit: An Introduction to the IOU Economy by George Pantelopoulos (2025)\n2026-03-10 — Discussion Session 1 (Ch 1–5)\n2026-03-24 — Discussion Session 2 (Ch 6–10)\n2026-04-07 — Discussion Session 3 (Ch 11–13)\n2026-04-14 — Discussion with George Pantelopoulos\nAgainst Money by J. W. Mason and Arjun Jayadev (2026)\n2026-05-05 — Discussion Session 1 (ch 1–4)\n2026-05-12 — Discussion Session 2 (ch 5–7)\n2026-06-12 — Discussion with J.W. Mason\nOur Money: Monetary Policy as if Democracy Matters by Leah Downey (2025)\n2026-06-02 — Discussion Session 1 (Ch 1–3)\n2026-06-16 — Discussion Session 2 (Ch 4–8)\nThe History of Money: A Story of Humanity by David McWilliams (2024)\n2026-06-23 — Discussion Session 1 (Parts 1 & 2)\n2026-07-07 — Discussion Session 2 (Parts 3–5)\n\n\nOff-Week Sessions\n\n2021-05-19 BIS Working Paper: Breaking free of the triple coincidence in international finance (2015)\n2021-07-07 Global Domain of the Dollar: 8 Questions by Robert McCauley Author Discussion\n2021-07-28 BIS and Bank of England reports on Central Bank Digital Currencies\n2022-09-28 The Crypto Banking System by Sébastien Derivaux (2022) Author Discussion\n2023-04-05 Discussion of Silicon Valley Bank\n2023-04-19 Institutional Cash Pools by Zoltan Pozsar (2011)\n2023-05-03 BIS Bulletin #73: Stablecoins vs. Tokenized Deposits (May 3\, 2023)\n2023-07-05 The Credit–Money Hierarchy: a Republican \, Egalitarian Appraisal by Aaron James (2023)\n2023-07-26 Public Purpose Finance: The Government’s Role as Lender by Nadav Orian Peer (2020) Author Discussion 2023-10-24 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 1\n2023-10-31 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 2\n2023-11-14 ICMA Repo FAQ by Richard Comotto (2013/2019)\n2023-11-28 Basis Trades and Treasury Market Illiquidity by Daniel Barth & Jay Kahn (2020)\n2024-01-23 Capital flows and the current account by Borio and Disyatat (2015)\n2024-02-13 The dual currency system of Renaissance Europe by Luca Fantacci (2008)\n2024-02-27 BIS: Buy now\, pay later: a cross-country analysis by Cornelli et al. (2023)\n2024-03-12 The non-use of money in the Middle Ages by Bell\, Brooks\, and Moore (2017)\n2024-04-09 The Central Role of Credit Crunches in Recent Financial History by Albert M. Wojnilower (1980)\n2024-04-16 Measuring Equilibrium in the Balance of Payments by Charles P. Kindleberger (1969)\n2024-04-30 The Rise and Risks of Private Credit — GFSR (April\, 2024)\n2024-06-04 BIS Working Paper No 1100: Getting up from the floor by Claudio Borio (May\, 2023)\n2024-06-11 The Offshore Dollar and US Policy by Robert McCauley (May\, 2024)\n2024-07-09 The (impossible) repo trinity: the political economy of repo markets by Daniela Gabor (2016)\n2024-08-07 A Safe Haven for Hidden Risks (May 30\, 2024) and Rate Transformation (November 4\, 2023) by Elham Saeidinezhad\n2024-08-20 The Collateral Supply Effect on Central Bank Policy by Carolyn Sissoko (2020)\n2024-09-10 Monetary Policy Implications of Market Maker of Last Resort Operations by Anil K Kashyap (August 23\, 2024)\n2024-11-05 BIS Bulletin No 90: The market turbulence and carry trade unwind of August 2024 (August 27\, 2024)\n2024-11-19 Yen Carry Trade and the Subprime Crisis by Masazumi Hattori and Hyun Song Shin (2009)\n2024-12-03 After the Allocation: What Role for the Special Drawing Rights System? by Pforr\, Pape\, and Murau (2022)\n2025-01-14 Where Profits Come From by the Levy Forecasting Center by Levy\, Farnham\, & Rajan (2008/1997)\n2025-01-28 The Broad Consequences of Narrow Banking by Matheus R. Grasseli and Alexander Lipton (2019)\n2025-02-11 Failing Banks by Sergio Correia\, Stephen Luck\, and Emil Verner (2024)\n2025-02-18 Odd Lots — The Hidden History of Eurodollars by Lev Menand and Joshua Younger (January 2025)\n2025-03-04 Of Last Resort: Evaluating the Treasury-Equity Model of Federal Reserve Emergency Lending by Steven Kelly (2024)\n2025-03-18 Commercial Banking and Capital Formation I–IV by Harold Moulton (1918)\n2025-04-01 Climate Alignment For Banks: The Stories That Numbers Tell by Nadav Orian Peer (2025) Author Discussion\n2025-04-15 Shadow Banking: Why Modern Money Markets are Less Stable Than 19th c. Money Markets But Shouldn’t Be Stabilized by a ‘Dealer of Last Resort’ by Carolyn Sissoko (2014)\n2025-04-29 Treasury Market and the Basis Trade (Adrian et al. 2025; Kashyap et al. 2025)\n2025-06-10 Structural Changes in the Global Financial System lecture by Hyun Song Shin (May 19\, 2025)\n2025-06-24 International Regimes\, Transactions\, and Change: Embedded Liberalism in the Postwar Economic Order by John Gerard Ruggie (1982)\n2025-07-15 BIS Annual Report Chapter: Financial conditions in a changing global financial system (2025)\n2025-07-22 Banks Are Intermediaries of Loanable Funds by George Selgin (2024)\n2025-07-29 Theorising non-bank financial intermediation by Jo Michell (2024)\n2025-08-05 Banks are different: why bank-based versus market-based lending is a false dichotomy by Carolyn Sissoko (2024)\n2025-09-08 Did France Cause the Great Depression? by Douglas A. Irwin (2010)\n2025-09-22 Rethinking Monetary Sovereignty: The Global Credit Money System and the State by Murau and van’t Klooster (2023)\n2025-10-06 Rethinking currency internationalisation: offshore money creation and the EU’s monetary governance by Murau and van’t Klooster (2025)\n2025-10-27 BIS Bulletin No 114: “Financial channel implications of a weaker dollar for emerging market economies” by Juselius\, Wooldridge and Xia (October 13\, 2025)\n2025-11-24 Bubble or Nothing: Data Center Project Finance by Advait Arun (November 12\, 2025)\n2025-12-08 Discussion of Debate over Whether Money Multiplier Requires Cash Lending\n2026-01-20 Gresham’s Law by Charles P. Kindleberger (1989)\n2026-02-03 The Law of One Price by Charles P. Kindleberger (1989)\n2026-02-17 Bank Runs With and Without Bank Failures by Correia\, Luck\, and Verner (2026)\n2026-03-03 Monetary Experience and the Theory of Money by John Hicks (1977)\n2026-03-31 What Is Money (1913) and The Credit Theory of Money (1914) by A. Mitchell-Innes\n2026-04-21 Covered interest parity lost: understanding the cross-currency basis by Borio et al. (2016)\n2026-04-28 Decoupling Dollar and Treasury Privilege by Du\, Keerati\, and Schreger (2025)\n2026-06-30 FEDS Note: Decomposing Hedge Funds’ U.S. Treasury Exposures by Phillip J. Monin (June 22\, 2026)\n2026-07-14 The Chicago Plan Revisited by Benes and Kumhof (2012)
URL:https://heske.wisdmlabs.net/event/money-view-reading-group/2026-09-15/
CATEGORIES:A series of zooms
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LOCATION:https://heske.wisdmlabs.net/event/money-view-reading-group/2026-09-15/
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DTSTART;TZID=Europe/Budapest:20260916T130000
DTEND;TZID=Europe/Budapest:20260916T170000
DTSTAMP:20260523T092829Z
CREATED:20260520T121212Z
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SUMMARY:YSI pre conference @ 15th Young Economists Conference @ Vienna
DESCRIPTION:Pre-Conference\nYSI is preparing an exciting pre-conference program which will take place on September 16th\, with workshops dedicated to scientific publishing\, research methods and challenges in the era of AGI and the intellectual journey of PhD and the job market. \nYSI is generously supporting selected ( via the main conference submission process ) young researchers with travel stipends. \nKeynote speakers: \n\nProf. Cecila Rikap (University College London)\nIzaskun Zuazu PhD (University Duisburg-Essen and International Labor Organization)\n\nThematic Scope of the Conference: \nThe explosive technological change in the past years that spans from personal devices to production facilities\, dominates media and expert discussions. While many European governments hope to lift their economies out of recession or near-recession through productivity strategies\, the US economy was only kept out of recession by Artificial Intelligence and AI infrastructure investment with most other sectors contracting. \nAt the same time\, the newspaper headline-technologies – AI\, blockchains and industrial robots – carry substantial risks of ecological destruction\, accelerated resource depletion\, deepening inequalities\, but also of financial bubbles. Experts also debate their role in undermining democracy by enabling new qualities of misinformation\, power concentration and job displacement. \nNow is the time to discuss the possibilities and risks of current technological trends for the life of working people and the unemployed\, for growth and the ecology\, and for inequalities or discrimination.
URL:https://heske.wisdmlabs.net/event/ysi-pre-conference-15th-young-economists-conference-vienna/
LOCATION:TBA\, Marondera Campus\, 3km Peg Bridge Road P.O. BOX 35 Marondera\, Marondera\, Mashonaland East\, 00263\, Zimbabwe
CATEGORIES:An in-person event
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DTSTART;VALUE=DATE:20260917
DTEND;VALUE=DATE:20260919
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SUMMARY:Research\, Reflexivity\, and the Making of a PhD
DESCRIPTION:Embarking on a PhD is not only a process of producing new knowledge\, it is also a journey of becoming. This two-day workshop invites doctoral researchers at all stages to examine the central role reflexivity plays in shaping research pathways\, scholarly identities\, and the intellectual\, emotional\, and ethical dimensions of doctoral study. Through interactive discussions\, reflective exercises\, and guided activities\, participants will critically examine how their positionalities\, values\, assumptions\, and lived experiences shape the questions they ask\, the methods they choose\, and the knowledge they ultimately co-produce  \nThrough interactive discussions\, reflective exercises\, and guided activities\, participants will engage with three broad themes:  \n\nReflexivity in research practice — Participants will explore how personal histories\, social identities\, and disciplinary cultures shape academic practice; examine entanglements between self\, subject\, and fieldwork; and consider the politics of knowledge production in international development and related fields. \n\n\nIntegrating reflexivity into design and writing — Guided activities will help participants develop concrete strategies for embedding reflexivity into research design\, methodology\, and scholarly writing\, moving beyond gesture towards sustained\, intentional practice. \n\n\nThe relational dimensions of doctoral life — The workshop addresses what often goes unspoken in PhD programmes: the navigating of complex supervisor–student relationships\, the experience of being misunderstood or misaligned\, and the question of whether reflexivity must begin with the self. Participants will share experiences of uncertainty\, vulnerability\, and transformation\, and explore how these relational challenges can be negotiated constructively — towards a place where both researcher and mentor find their footing. \n\n  \n  \nBy the end of the workshop\, participants will have articulated a clearer sense of their scholarly voice\, developed a more intentional reflexive practice\, and gained tools to position themselves confidently within their research. Research\, Reflexivity\, and the Making of a PhD invites doctoral researchers to see their work not simply as a technical exercise\, but as an evolving and deeply human process of inquiry. 
URL:https://heske.wisdmlabs.net/event/research-reflexivity-and-the-making-of-a-phd/
LOCATION:FinEst Centre for Smart Cities\, TalTech\, Ehitajate tee 5\, Tallinn\, 19086\, Estonia
CATEGORIES:An in-person event
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BEGIN:VEVENT
DTSTART;VALUE=DATE:20260921
DTEND;VALUE=DATE:20260926
DTSTAMP:20260422T183310Z
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SUMMARY:Keynes hoy: incertidumbre\, política económica y dinero
DESCRIPTION:Keynes Year 2026: Relevance\, Crisis\, and Transformations of Keynesian Thought\n???? Mexico City???? 21–25 September 2026???? Universidad Autónoma Metropolitana – Universidad Nacional Autónoma de México \n???? Website: www.keynes2026.com \n???? About the Project\nThis project is part of the international academic initiative Keynes Year 2026\, led by the Universidad Autónoma Metropolitana (UAM) in collaboration with the Universidad Nacional Autónoma de México (UNAM)\, with the support of the Young Scholars Initiative (YSI) of the Institute for New Economic Thinking. \nThe initiative marks two major anniversaries in the history of economic thought: the 90th anniversary of the publication of The General Theory of Employment\, Interest and Money (1936) and the 80th anniversary of the death of John Maynard Keynes (1946). \nThe project aims to critically revisit the legacy of Keynesian thought and its relevance to contemporary global challenges. Rather than a purely commemorative event\, it seeks to reactivate Keynesian debates from a plural and international perspective\, engaging with issues such as persistent inequality\, economic stagnation\, financial fragility\, ecological crisis\, and the transformations of the State and democracy in the twenty-first century. \nThis event will culminate in major academic publications\, including: \n\na monographic volume edited by the Universidad Autónoma Metropolitana\,\nspecial issue in El Trimestre Económico \nspecial issue in Investigación Económica\n\nKEYNOTE SPEAKERS: \nJosé Antonio Ocampo (Columbia University) \nJan Toporowski (King’s college London) \nMaria Eugenia Romero Sotelo (Facultad de Economía-UNAM) \nFederico Novelo (Universidad Autónoma Metropolitana-Xochimilco) \nHa Joon Chang (SOAS University) \nEsteban Pérez Caldentey (ECLAC) \nNoemi Levy (Facultad de Economía -UNAM) \n???? Event Structure\n\n\nInternational Conference (main event) \n\n\nYSI Workshop for young scholars \n\n\nThematic panels and academic discussions \n\n\nCollective discussion spaces and networking \n\n\n???? Thematic Tracks\n\n\nKeynes and the General Theory at 90 \n\n\nKeynes and economic crises: past and present \n\n\nEffective demand\, stagnation\, and inequality \n\n\nUncertainty and expectations in contemporary capitalism \n\n\nKeynes\, the State\, and economic policy \n\n\nTensions between market\, democracy\, and equality \n\n\nKeynes and neoliberalism: limits and transformations \n\n\nPost-Keynesian\, structuralist\, and critical political economy approaches \n\n\nKeynesian thought in the Global South \n\n\nGlobal challenges: finance\, inequality\, and climate crisis \n\n\n???? Call for Papers\nWe invite submissions from graduate students\, early-career researchers\, and scholars working on Keynesian and Post-Keynesian economics\, political economy\, development\, and macroeconomic policy. \nSubmissions may include: \n\n\nFull papers \n\n\nExtended abstracts (300–500 words) \n\n\nWorking languages: \n\n\nEnglish \n\n\nSpanish \n\n\nParticipation format: \n\n\nIn-person (Mexico City) \n\n\nOnline participation \n\n\n???? Submission Requirements\n\n\nTitle of the paper \n\n\nAbstract (300–500 words) \n\n\nFull name \n\n\nInstitutional affiliation \n\n\nCountry \n\n\nEmail address \n\n\nPreferred language and participation format \n\n\n???? Important Dates\n\n\nSubmission deadline: 31 May 2026 \n\n\nNotification of acceptance: 30 June 2026 \n\n\nEvent dates: 21–25 September 2026 \n\n\n???? Contact\n???? callforkeynes2026@gmail.com???? Website: www.keynes2026.com \nNOTE: Partial reimbursement support is not guaranteed. The event will also include virtual sessions\, so these preferences must be duly indicated in the registration form. Acceptance of a paper does not imply the allocation of reimbursement or partial funding\, as these resources remain subject to consideration. \nAño Keynes 2026: Vigencia\, crisis y transformaciones del pensamiento keynesiano\n???? Ciudad de México???? 21–25 de septiembre de 2026???? Universidad Autónoma Metropolitana – Universidad Nacional Autónoma de México \n???? Sitio web: www.keynes2026.com \n???? Sobre el proyecto\nEste proyecto forma parte de la iniciativa académica internacional Año Keynes 2026\, liderada por la Universidad Autónoma Metropolitana (UAM) en colaboración con la Universidad Nacional Autónoma de México (UNAM)\, con el apoyo de la Young Scholars Initiative (YSI) del Institute for New Economic Thinking. \nLa iniciativa conmemora dos aniversarios fundamentales en la historia del pensamiento económico: el 90 aniversario de la publicación de The General Theory of Employment\, Interest and Money (1936) y el 80 aniversario del fallecimiento de John Maynard Keynes (1946). \nEl objetivo es revisitar críticamente el legado del pensamiento keynesiano y su relevancia frente a los desafíos contemporáneos. Más que un evento conmemorativo\, se busca reactivar los debates keynesianos desde una perspectiva plural e internacional\, abordando problemáticas como la desigualdad persistente\, el estancamiento económico\, la fragilidad financiera\, la crisis ecológica y las transformaciones del Estado y la democracia en el siglo XXI. \nKEYNOTE SPEAKERS: \nJosé Antonio Ocampo (Columbia University) \nJan Toporowski (King’s college London) \nMaria Eugenia Romero Sotelo (Facultad de Economía-UNAM) \nFederico Novelo (Universidad Autónoma Metropolitana-Xochimilco) \nHa Joon Chang (SOAS University) \nEsteban Pérez Caldentey (ECLAC) \nNoemi Levy (Facultad de Economía -UNAM) \n???? Estructura del evento\n\n\nConferencia internacional (evento principal) \n\n\nTaller (Workshop) YSI para jóvenes investigadores \n\n\nMesas temáticas con ponencias seleccionadas \n\n\nEspacios de discusión colectiva e intercambio académico \n\n\n???? Ejes temáticos\n\n\nLa Teoría General a 90 años: balances\, debates y controversias \n\n\nKeynes y las crisis económicas: paralelismos entre los años treinta y el presente \n\n\nDemanda efectiva\, estancamiento y desigualdad \n\n\nIncertidumbre y expectativas en el capitalismo contemporáneo \n\n\nKeynes\, el Estado y la política económica \n\n\nTensiones entre mercado\, democracia e igualdad \n\n\nKeynes frente al neoliberalismo y su agotamiento \n\n\nPoskeynesianismo\, estructuralismo y economía política crítica \n\n\nEl pensamiento keynesiano en el Sur Global \n\n\nDesafíos globales: finanzas\, desigualdad y crisis climática \n\n\n???? Convocatoria\nSe invita a estudiantes de posgrado\, investigadores jóvenes y académicos que trabajen en economía keynesiana y poskeynesiana\, economía política\, desarrollo y política macroeconómica. \nSe aceptan: \n\n\nArtículos completos \n\n\nResúmenes extendidos (300–500 palabras) \n\n\nIdiomas de trabajo: \n\n\nInglés \n\n\nEspañol \n\n\nModalidad de participación: \n\n\nPresencial (Ciudad de México) \n\n\nParticipación en línea \n\n\n???? Requisitos de envío\n\n\nTítulo de la ponencia \n\n\nResumen (300–500 palabras) \n\n\nNombre completo \n\n\nInstitución de adscripción \n\n\nPaís \n\n\nCorreo electrónico \n\n\nIdioma y modalidad preferente \n\n\n???? Fechas importantes\n\n\nFecha límite de envío: 31 de mayo de 2026 \n\n\nNotificación de aceptación: 30 de junio de 2026 \n\n\nFechas del evento: 21–25 de septiembre de 2026 \n\n\n???? Contacto\n???? callforkeynes2026@gmail.com???? Sitio web: www.keynes2026.com \nNOTA: El otorgamiento de apoyos para reembolso parcial no está garantizado. El evento contará también con sesiones en modalidad virtual\, por lo que estas preferencias deberán indicarse debidamente en el formulario de registro. Asimismo\, la aceptación de la ponencia no implica la asignación automática de reembolso o financiamiento parcial\, ya que estos recursos se encuentran sujetos a consideración.
URL:https://heske.wisdmlabs.net/event/keynes-hoy-incertidumbre-politica-economica-y-dinero/2026-09-21/1/
LOCATION:Periferico Sur\, UAM-UNAM\, Ciudad de México\, Ciudad de México\, 10100\, Mexico
CATEGORIES:A series of in-person events
ATTACH;FMTTYPE=image/png:https://heske.wisdmlabs.net/wp-content/uploads/2026/03/Keynes2026.png
GEO:19.332795;-99.1876103
X-APPLE-STRUCTURED-LOCATION;VALUE=URI;X-ADDRESS=Periferico Sur UAM-UNAM Ciudad de México Ciudad de México 10100 Mexico;X-APPLE-RADIUS=500;X-TITLE=UAM-UNAM:geo:-99.1876103,19.332795
END:VEVENT
BEGIN:VEVENT
DTSTART;VALUE=DATE:20260921
DTEND;VALUE=DATE:20260922
DTSTAMP:20260422T183310Z
CREATED:20260323T145935Z
LAST-MODIFIED:20260422T183310Z
UID:10008486-1789977600-1790010000@heske.wisdmlabs.net
SUMMARY:Keynes hoy: incertidumbre\, política económica y dinero
DESCRIPTION:Keynes Year 2026: Relevance\, Crisis\, and Transformations of Keynesian Thought\n???? Mexico City???? 21–25 September 2026???? Universidad Autónoma Metropolitana – Universidad Nacional Autónoma de México \n???? Website: www.keynes2026.com \n???? About the Project\nThis project is part of the international academic initiative Keynes Year 2026\, led by the Universidad Autónoma Metropolitana (UAM) in collaboration with the Universidad Nacional Autónoma de México (UNAM)\, with the support of the Young Scholars Initiative (YSI) of the Institute for New Economic Thinking. \nThe initiative marks two major anniversaries in the history of economic thought: the 90th anniversary of the publication of The General Theory of Employment\, Interest and Money (1936) and the 80th anniversary of the death of John Maynard Keynes (1946). \nThe project aims to critically revisit the legacy of Keynesian thought and its relevance to contemporary global challenges. Rather than a purely commemorative event\, it seeks to reactivate Keynesian debates from a plural and international perspective\, engaging with issues such as persistent inequality\, economic stagnation\, financial fragility\, ecological crisis\, and the transformations of the State and democracy in the twenty-first century. \nThis event will culminate in major academic publications\, including: \n\na monographic volume edited by the Universidad Autónoma Metropolitana\,\nspecial issue in El Trimestre Económico \nspecial issue in Investigación Económica\n\nKEYNOTE SPEAKERS: \nJosé Antonio Ocampo (Columbia University) \nJan Toporowski (King’s college London) \nMaria Eugenia Romero Sotelo (Facultad de Economía-UNAM) \nFederico Novelo (Universidad Autónoma Metropolitana-Xochimilco) \nHa Joon Chang (SOAS University) \nEsteban Pérez Caldentey (ECLAC) \nNoemi Levy (Facultad de Economía -UNAM) \n???? Event Structure\n\n\nInternational Conference (main event) \n\n\nYSI Workshop for young scholars \n\n\nThematic panels and academic discussions \n\n\nCollective discussion spaces and networking \n\n\n???? Thematic Tracks\n\n\nKeynes and the General Theory at 90 \n\n\nKeynes and economic crises: past and present \n\n\nEffective demand\, stagnation\, and inequality \n\n\nUncertainty and expectations in contemporary capitalism \n\n\nKeynes\, the State\, and economic policy \n\n\nTensions between market\, democracy\, and equality \n\n\nKeynes and neoliberalism: limits and transformations \n\n\nPost-Keynesian\, structuralist\, and critical political economy approaches \n\n\nKeynesian thought in the Global South \n\n\nGlobal challenges: finance\, inequality\, and climate crisis \n\n\n???? Call for Papers\nWe invite submissions from graduate students\, early-career researchers\, and scholars working on Keynesian and Post-Keynesian economics\, political economy\, development\, and macroeconomic policy. \nSubmissions may include: \n\n\nFull papers \n\n\nExtended abstracts (300–500 words) \n\n\nWorking languages: \n\n\nEnglish \n\n\nSpanish \n\n\nParticipation format: \n\n\nIn-person (Mexico City) \n\n\nOnline participation \n\n\n???? Submission Requirements\n\n\nTitle of the paper \n\n\nAbstract (300–500 words) \n\n\nFull name \n\n\nInstitutional affiliation \n\n\nCountry \n\n\nEmail address \n\n\nPreferred language and participation format \n\n\n???? Important Dates\n\n\nSubmission deadline: 31 May 2026 \n\n\nNotification of acceptance: 30 June 2026 \n\n\nEvent dates: 21–25 September 2026 \n\n\n???? Contact\n???? callforkeynes2026@gmail.com???? Website: www.keynes2026.com \nNOTE: Partial reimbursement support is not guaranteed. The event will also include virtual sessions\, so these preferences must be duly indicated in the registration form. Acceptance of a paper does not imply the allocation of reimbursement or partial funding\, as these resources remain subject to consideration. \nAño Keynes 2026: Vigencia\, crisis y transformaciones del pensamiento keynesiano\n???? Ciudad de México???? 21–25 de septiembre de 2026???? Universidad Autónoma Metropolitana – Universidad Nacional Autónoma de México \n???? Sitio web: www.keynes2026.com \n???? Sobre el proyecto\nEste proyecto forma parte de la iniciativa académica internacional Año Keynes 2026\, liderada por la Universidad Autónoma Metropolitana (UAM) en colaboración con la Universidad Nacional Autónoma de México (UNAM)\, con el apoyo de la Young Scholars Initiative (YSI) del Institute for New Economic Thinking. \nLa iniciativa conmemora dos aniversarios fundamentales en la historia del pensamiento económico: el 90 aniversario de la publicación de The General Theory of Employment\, Interest and Money (1936) y el 80 aniversario del fallecimiento de John Maynard Keynes (1946). \nEl objetivo es revisitar críticamente el legado del pensamiento keynesiano y su relevancia frente a los desafíos contemporáneos. Más que un evento conmemorativo\, se busca reactivar los debates keynesianos desde una perspectiva plural e internacional\, abordando problemáticas como la desigualdad persistente\, el estancamiento económico\, la fragilidad financiera\, la crisis ecológica y las transformaciones del Estado y la democracia en el siglo XXI. \nKEYNOTE SPEAKERS: \nJosé Antonio Ocampo (Columbia University) \nJan Toporowski (King’s college London) \nMaria Eugenia Romero Sotelo (Facultad de Economía-UNAM) \nFederico Novelo (Universidad Autónoma Metropolitana-Xochimilco) \nHa Joon Chang (SOAS University) \nEsteban Pérez Caldentey (ECLAC) \nNoemi Levy (Facultad de Economía -UNAM) \n???? Estructura del evento\n\n\nConferencia internacional (evento principal) \n\n\nTaller (Workshop) YSI para jóvenes investigadores \n\n\nMesas temáticas con ponencias seleccionadas \n\n\nEspacios de discusión colectiva e intercambio académico \n\n\n???? Ejes temáticos\n\n\nLa Teoría General a 90 años: balances\, debates y controversias \n\n\nKeynes y las crisis económicas: paralelismos entre los años treinta y el presente \n\n\nDemanda efectiva\, estancamiento y desigualdad \n\n\nIncertidumbre y expectativas en el capitalismo contemporáneo \n\n\nKeynes\, el Estado y la política económica \n\n\nTensiones entre mercado\, democracia e igualdad \n\n\nKeynes frente al neoliberalismo y su agotamiento \n\n\nPoskeynesianismo\, estructuralismo y economía política crítica \n\n\nEl pensamiento keynesiano en el Sur Global \n\n\nDesafíos globales: finanzas\, desigualdad y crisis climática \n\n\n???? Convocatoria\nSe invita a estudiantes de posgrado\, investigadores jóvenes y académicos que trabajen en economía keynesiana y poskeynesiana\, economía política\, desarrollo y política macroeconómica. \nSe aceptan: \n\n\nArtículos completos \n\n\nResúmenes extendidos (300–500 palabras) \n\n\nIdiomas de trabajo: \n\n\nInglés \n\n\nEspañol \n\n\nModalidad de participación: \n\n\nPresencial (Ciudad de México) \n\n\nParticipación en línea \n\n\n???? Requisitos de envío\n\n\nTítulo de la ponencia \n\n\nResumen (300–500 palabras) \n\n\nNombre completo \n\n\nInstitución de adscripción \n\n\nPaís \n\n\nCorreo electrónico \n\n\nIdioma y modalidad preferente \n\n\n???? Fechas importantes\n\n\nFecha límite de envío: 31 de mayo de 2026 \n\n\nNotificación de aceptación: 30 de junio de 2026 \n\n\nFechas del evento: 21–25 de septiembre de 2026 \n\n\n???? Contacto\n???? callforkeynes2026@gmail.com???? Sitio web: www.keynes2026.com \nNOTA: El otorgamiento de apoyos para reembolso parcial no está garantizado. El evento contará también con sesiones en modalidad virtual\, por lo que estas preferencias deberán indicarse debidamente en el formulario de registro. Asimismo\, la aceptación de la ponencia no implica la asignación automática de reembolso o financiamiento parcial\, ya que estos recursos se encuentran sujetos a consideración.
URL:https://heske.wisdmlabs.net/event/keynes-hoy-incertidumbre-politica-economica-y-dinero/2026-09-21/2/
LOCATION:Periferico Sur\, UAM-UNAM\, Ciudad de México\, Ciudad de México\, 10100\, Mexico
CATEGORIES:A series of in-person events
ATTACH;FMTTYPE=image/png:https://heske.wisdmlabs.net/wp-content/uploads/2026/03/Keynes2026.png
GEO:19.332795;-99.1876103
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END:VEVENT
BEGIN:VEVENT
DTSTART;VALUE=DATE:20260922
DTEND;VALUE=DATE:20260923
DTSTAMP:20260422T183310Z
CREATED:20260323T145935Z
LAST-MODIFIED:20260422T183310Z
UID:10008487-1790064000-1790096400@heske.wisdmlabs.net
SUMMARY:Keynes hoy: incertidumbre\, política económica y dinero
DESCRIPTION:Keynes Year 2026: Relevance\, Crisis\, and Transformations of Keynesian Thought\n???? Mexico City???? 21–25 September 2026???? Universidad Autónoma Metropolitana – Universidad Nacional Autónoma de México \n???? Website: www.keynes2026.com \n???? About the Project\nThis project is part of the international academic initiative Keynes Year 2026\, led by the Universidad Autónoma Metropolitana (UAM) in collaboration with the Universidad Nacional Autónoma de México (UNAM)\, with the support of the Young Scholars Initiative (YSI) of the Institute for New Economic Thinking. \nThe initiative marks two major anniversaries in the history of economic thought: the 90th anniversary of the publication of The General Theory of Employment\, Interest and Money (1936) and the 80th anniversary of the death of John Maynard Keynes (1946). \nThe project aims to critically revisit the legacy of Keynesian thought and its relevance to contemporary global challenges. Rather than a purely commemorative event\, it seeks to reactivate Keynesian debates from a plural and international perspective\, engaging with issues such as persistent inequality\, economic stagnation\, financial fragility\, ecological crisis\, and the transformations of the State and democracy in the twenty-first century. \nThis event will culminate in major academic publications\, including: \n\na monographic volume edited by the Universidad Autónoma Metropolitana\,\nspecial issue in El Trimestre Económico \nspecial issue in Investigación Económica\n\nKEYNOTE SPEAKERS: \nJosé Antonio Ocampo (Columbia University) \nJan Toporowski (King’s college London) \nMaria Eugenia Romero Sotelo (Facultad de Economía-UNAM) \nFederico Novelo (Universidad Autónoma Metropolitana-Xochimilco) \nHa Joon Chang (SOAS University) \nEsteban Pérez Caldentey (ECLAC) \nNoemi Levy (Facultad de Economía -UNAM) \n???? Event Structure\n\n\nInternational Conference (main event) \n\n\nYSI Workshop for young scholars \n\n\nThematic panels and academic discussions \n\n\nCollective discussion spaces and networking \n\n\n???? Thematic Tracks\n\n\nKeynes and the General Theory at 90 \n\n\nKeynes and economic crises: past and present \n\n\nEffective demand\, stagnation\, and inequality \n\n\nUncertainty and expectations in contemporary capitalism \n\n\nKeynes\, the State\, and economic policy \n\n\nTensions between market\, democracy\, and equality \n\n\nKeynes and neoliberalism: limits and transformations \n\n\nPost-Keynesian\, structuralist\, and critical political economy approaches \n\n\nKeynesian thought in the Global South \n\n\nGlobal challenges: finance\, inequality\, and climate crisis \n\n\n???? Call for Papers\nWe invite submissions from graduate students\, early-career researchers\, and scholars working on Keynesian and Post-Keynesian economics\, political economy\, development\, and macroeconomic policy. \nSubmissions may include: \n\n\nFull papers \n\n\nExtended abstracts (300–500 words) \n\n\nWorking languages: \n\n\nEnglish \n\n\nSpanish \n\n\nParticipation format: \n\n\nIn-person (Mexico City) \n\n\nOnline participation \n\n\n???? Submission Requirements\n\n\nTitle of the paper \n\n\nAbstract (300–500 words) \n\n\nFull name \n\n\nInstitutional affiliation \n\n\nCountry \n\n\nEmail address \n\n\nPreferred language and participation format \n\n\n???? Important Dates\n\n\nSubmission deadline: 31 May 2026 \n\n\nNotification of acceptance: 30 June 2026 \n\n\nEvent dates: 21–25 September 2026 \n\n\n???? Contact\n???? callforkeynes2026@gmail.com???? Website: www.keynes2026.com \nNOTE: Partial reimbursement support is not guaranteed. The event will also include virtual sessions\, so these preferences must be duly indicated in the registration form. Acceptance of a paper does not imply the allocation of reimbursement or partial funding\, as these resources remain subject to consideration. \nAño Keynes 2026: Vigencia\, crisis y transformaciones del pensamiento keynesiano\n???? Ciudad de México???? 21–25 de septiembre de 2026???? Universidad Autónoma Metropolitana – Universidad Nacional Autónoma de México \n???? Sitio web: www.keynes2026.com \n???? Sobre el proyecto\nEste proyecto forma parte de la iniciativa académica internacional Año Keynes 2026\, liderada por la Universidad Autónoma Metropolitana (UAM) en colaboración con la Universidad Nacional Autónoma de México (UNAM)\, con el apoyo de la Young Scholars Initiative (YSI) del Institute for New Economic Thinking. \nLa iniciativa conmemora dos aniversarios fundamentales en la historia del pensamiento económico: el 90 aniversario de la publicación de The General Theory of Employment\, Interest and Money (1936) y el 80 aniversario del fallecimiento de John Maynard Keynes (1946). \nEl objetivo es revisitar críticamente el legado del pensamiento keynesiano y su relevancia frente a los desafíos contemporáneos. Más que un evento conmemorativo\, se busca reactivar los debates keynesianos desde una perspectiva plural e internacional\, abordando problemáticas como la desigualdad persistente\, el estancamiento económico\, la fragilidad financiera\, la crisis ecológica y las transformaciones del Estado y la democracia en el siglo XXI. \nKEYNOTE SPEAKERS: \nJosé Antonio Ocampo (Columbia University) \nJan Toporowski (King’s college London) \nMaria Eugenia Romero Sotelo (Facultad de Economía-UNAM) \nFederico Novelo (Universidad Autónoma Metropolitana-Xochimilco) \nHa Joon Chang (SOAS University) \nEsteban Pérez Caldentey (ECLAC) \nNoemi Levy (Facultad de Economía -UNAM) \n???? Estructura del evento\n\n\nConferencia internacional (evento principal) \n\n\nTaller (Workshop) YSI para jóvenes investigadores \n\n\nMesas temáticas con ponencias seleccionadas \n\n\nEspacios de discusión colectiva e intercambio académico \n\n\n???? Ejes temáticos\n\n\nLa Teoría General a 90 años: balances\, debates y controversias \n\n\nKeynes y las crisis económicas: paralelismos entre los años treinta y el presente \n\n\nDemanda efectiva\, estancamiento y desigualdad \n\n\nIncertidumbre y expectativas en el capitalismo contemporáneo \n\n\nKeynes\, el Estado y la política económica \n\n\nTensiones entre mercado\, democracia e igualdad \n\n\nKeynes frente al neoliberalismo y su agotamiento \n\n\nPoskeynesianismo\, estructuralismo y economía política crítica \n\n\nEl pensamiento keynesiano en el Sur Global \n\n\nDesafíos globales: finanzas\, desigualdad y crisis climática \n\n\n???? Convocatoria\nSe invita a estudiantes de posgrado\, investigadores jóvenes y académicos que trabajen en economía keynesiana y poskeynesiana\, economía política\, desarrollo y política macroeconómica. \nSe aceptan: \n\n\nArtículos completos \n\n\nResúmenes extendidos (300–500 palabras) \n\n\nIdiomas de trabajo: \n\n\nInglés \n\n\nEspañol \n\n\nModalidad de participación: \n\n\nPresencial (Ciudad de México) \n\n\nParticipación en línea \n\n\n???? Requisitos de envío\n\n\nTítulo de la ponencia \n\n\nResumen (300–500 palabras) \n\n\nNombre completo \n\n\nInstitución de adscripción \n\n\nPaís \n\n\nCorreo electrónico \n\n\nIdioma y modalidad preferente \n\n\n???? Fechas importantes\n\n\nFecha límite de envío: 31 de mayo de 2026 \n\n\nNotificación de aceptación: 30 de junio de 2026 \n\n\nFechas del evento: 21–25 de septiembre de 2026 \n\n\n???? Contacto\n???? callforkeynes2026@gmail.com???? Sitio web: www.keynes2026.com \nNOTA: El otorgamiento de apoyos para reembolso parcial no está garantizado. El evento contará también con sesiones en modalidad virtual\, por lo que estas preferencias deberán indicarse debidamente en el formulario de registro. Asimismo\, la aceptación de la ponencia no implica la asignación automática de reembolso o financiamiento parcial\, ya que estos recursos se encuentran sujetos a consideración.
URL:https://heske.wisdmlabs.net/event/keynes-hoy-incertidumbre-politica-economica-y-dinero/2026-09-22/
LOCATION:Periferico Sur\, UAM-UNAM\, Ciudad de México\, Ciudad de México\, 10100\, Mexico
CATEGORIES:A series of in-person events
ATTACH;FMTTYPE=image/png:https://heske.wisdmlabs.net/wp-content/uploads/2026/03/Keynes2026.png
GEO:19.332795;-99.1876103
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END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=America/New_York:20260922T140000
DTEND;TZID=America/New_York:20260922T153000
DTSTAMP:20260717T225613Z
CREATED:20231212T030110Z
LAST-MODIFIED:20260717T225613Z
UID:10008202-1790085600-1790091000@heske.wisdmlabs.net
SUMMARY:Money View Reading Group
DESCRIPTION:The Money View Reading Group reads and discusses writings on money\, banking\, and finance. We are a self-directed group. Anyone interested in money and banking can read the readings\, join us for discussions\, or suggest future readings.\nWe meet for 90 minutes via Zoom on Tuesdays at 2 pm Eastern Time US (New York). \n\nCurrent Book\n\n\nAfter the Accord: A History of Federal Reserve Open Market Operations\, the US Government Securities Market\, and Treasury Debt Management from 1951 to 1979\n\nby Kenneth D. Garbade (2021) \nhttps://www.amazon.com/dp/1108839894/ \nFrom the description \nIn this book Garbade\, a former analyst at a primary dealer and researcher at the Federal Reserve Bank of New York\, traces the evolution of open market operations\, Treasury debt management\, and the microstructure of the US government securities markets following the 1951 Treasury-Federal Reserve. This volume examines how these operations evolved\, responding both to external forces and to one another. Utilising a vast scope of primary material\, the work provides insight into how officials fashioned the instruments\, facilities\, and procedures needed to advance their policy objectives in light of their novel freedoms and responsibilities. \nThis is a big book. As we did with Braudel’s The Wheel’s of Commerce last summer\, we are discussing this book in five back-to-back weekly sessions. \n\nUpcoming Sessions\n\n\n2026-07-21 – 2:00pm EDT\n\nDuring the off week\, we discuss Arthur C. Pigou’s Famous 1917 paper\, “The Value of Money.” \nhttps://www.jstor.org/stable/1885078?seq=1 \n\n2026-07-28 — 2:00pm EDT\n\nIn our first of five sessions\, we discuss Parts 1 and 2 of After the Accord by Kenneth Garbade. \n\nChapter 1: Introduction\n\nOpen Market Operations After the Accord\n\nBills Preferably\nRepurchase Agreements\nOpen Market Operations in Coupon-Bearing Debt\n\n\nTreasury Debt Management After the Accord\n\n\nPart I: The System and the Market in the 1940s\n\nChapter 2: The Government Securities Market\n\nWartime Interest Rate Ceilings\nFrom the End of the War to the End of 1949\nBill Auctions\nCash Subscription Offerings\nExchange Offerings\nAn Example\nThe Secondary Market\nThe Postwar Secondary Market\nThe Role of Dealers in Primary Market Offerings\n\n\nChapter 3: Reserves\, Reserve Requirements\, and Reserves Management\n\nReserve Requirements\n\nDemand Deposits\n\n\nReserves in Aggregate\nThe Inter-Bank Market for Federal Funds\nReserves Management\nAppendix: Treasury Cash Management\nAppendix: Identifying the Sources and Uses of Reserves\n\n\nChapter 4: The Institutional Framework of Open Market Operations\n\nThe Recognized Dealer Program\n\nFormalization of the Recognized Dealer Program\n\n\nAdvent of the Qualified Dealer Program\n\nRevising the Institutional Framework of Open Market Operations\nImplementing the Revised Framework\nThe Qualified Dealer Program at the End of the 1940s\n\n\nAppendix: Orderly Markets\n\nA Reexamination\n\n\n\n\n\n\nPart II: The Accord and Its Aftermath\n\nChapter 5: The Accord\n\nRun-Up to the Accord\nThe Accord\n\nThe Nomarketable Bond Offering\n\n\nAfter the Accord\n\n\nChapter 6: Taking Stock\n\nThe New York Reserve Bank Study\n\nThe Existing Framework\nProspects for Fundamental Change\n\nAn Exchange Market\nDirect Trading by Federal Reserve Banks\nReliance on Nonmarketable Long-Term Debt\n\n\nProspects for More Modest Changes\n\nExpanding the Number of Qualified Dealers\n\n\nRelations between the System and the Treasury\nSumming Up\n\n\nThe Ad Hoc Subcommittee Study\n\nSystem Intervention\n\nBills Preferably\nTreasury Financings\n\n\nDealer Qualification Requirements\nMarket Intelligence\n\n\n\n\nChapter 7: New Directions\n\nMarket Intervention\nDealer Relations\n\nMarket Intelligence\n\n\nSubsequent Actions\n\nThe End of the Qualified Dealer Program\nPublicizing the New Restrictions on Market Intervention\n\n\n\n\nChapter 8: Challenging the New Restrictions\n\nThe April 1953 Bond Offering\nThe Mid-May Executive Committee Meetings\n\nThe May 6 Meeting\nThe May 13 Meeting\nSystem Open Market Account Activity and Reserve Availability in May\n\n\nBreakdown and Intervention\nRevisiting the Restrictions on Intervention\n\nReimposition\n\n\nThe Controversy Becomes Public\n\n\nChapter 9: An Additional Limitation on the Conduct of Open Market Operations\n\nA Swap Authorization\nPushback\nRound Two\n\n\n\n\n\n\n2026-08-04 — 2:00pm EDT\n\nIn our second of five sessions\, we discuss Part 3 of After the Accord by Kenneth Garbade. \n\nPart III: The New Regime\n\nChapter 10: Monetary Policy in 1954\n\nMonitoring Economic Activity\nMonetary Policy\n\nThe Directives\nThe Minutes\n\n\nCaveats\n\n\nChapter 11: Policy Instruments for Reserves Management\n\nOutright Purchases and Sales of Treasury Bills\nRepurchase Agreements on Short-Term Treasury Securities\n\nRepurchase Agreements before the Accord\nPostwar Reinstatement\nLinking the Floor on Repo Rates to the Treasury Bill Rate Instead of the Discount Rate\nConsequences of the Accord\nRepurchase Agreements in 1954\nRobertson’s Resistance to System Repurchase Agreements\nThe Opening Round\nRobertson’s Critique\nA Proposal\nReconciliation\nSubsequent Events\n\n\n\n\nChapter 12: Monetary Policy in 1955\n\nFOMC Directives\nMoney Market Indicators\nTreasury Offerings of Coupon-Bearing Debt\n\nAttrition on Exchange Offerings\nMaintaining an Even Keel\n\n\nDefensive Operations\n\nWhen Reserves Needed to Be Drained\nTwo Work-Arounds\n\n\n\n\nChapter 13: Pragmatism in the Accommodation of Treasury Offerings\n\nRepurchase Agreements on Rights\nIntervention\nIntervention by Another Name\n\n\nChapter 14: 1956 and 1957\n\nDefensive Operations\n\nCurrency\nFloat\nTreasury Balances at Federal Reserve Banks\nForecasting Errors\n\n\nAccommodating Treasury Offerings\n\nThe May 1957 Refunding\nSubsequent Offerings in 1957\n\n\nThe Continuing Importance of Repurchase Agreements\n\n\n\n\n\n\n2026-08-11 — 2:00pm EDT\n\nIn our third of five sessions\, we discuss Parts 4 and 5 of After the Accord by Kenneth Garbade. \n\nPart IV: Summer 1958 and Its Consequences\n\nChapter 15: The Summer 1958 Treasury Financings\n\nAn Overview of 1958\nRun-Up to the June Financing\nThe June Financing\n\nResults of the Financing\n\n\nThe Aftermath of the June Financing\n\nThe Treasury Enters the Market\nTrading on July 8\nTreasury Reveals Its Purchases\n\n\nIraq and Lebanon\nThe July Refunding\n\nFriday\, July 18\nThe Subscription Period (Monday\, July 21 to Wednesday\, July 23)\nDenouement\n\n\nAftermath to the July Refunding\n\n\nChapter 16: Innovations in Treasury Debt Management\n\nA Need for Change\n\nTreasury Issuance of Coupon-Bearing Debt from 1953 to 1958\nGaines’s Critique\nTreasury Bills – A Bright Spot\nFriedman’s Recommendations\n\n\nTreasury’s Innovations\n\nIssuing and Redeeming Coupon-Bearing Debt on a Regular Schedule\nTwenty-Six-Week Bills\nCash Refundings\nThe Problem of SOMA Reinvestments\nAdvance Refundings\nWhy the Treasury Declined to Extend the Auction Process to Coupon-Bearing Securities\n\n\n\n\nChapter 17: The Treasury-Federal Reserve Study of the Government Securities Market\n\nMarket Statistics\n\nAdvent of the Reporting Dealer Program\n\nInitial Discussions\nA Joint Staff Proposal\nImplementation\n\n\n\n\nDealer Finance\nProspects for a Dealer Association\n\n\n\n\nPart V: The End of Bills Preferably\n\nChapter 18: The 1958-1960 Gold Drain\n\nGold in the International Payments System\nThe London Gold Market\nThe Place of Gold in FOMC Deliberations\nThe Break-out of London Gold Prices\nThe Place of Gold in FOMC Deliberations After the Break-out\nContemplating the Future\n\n\nChapter 19: Operation Twist\n\nHow Economists Viewed the Term Structure of Interest Rates\nThe February 7 Executive Session of the Federal Open Market Committee\nConducting Open Market Operations in Longer-Term Securities\nWhat\, Exactly\, Were the Objectives of the New Program?\nDisengagement?\nThe Scale of Open Market Operations in Longer-Term Securities\nAbandoning the 1953 Operating Principles\nOperation Twist After 1961\n\nNew Policy Instruments\nNew Empirical Evidence\n\n\nThe End of $35 Gold\n\n\n\n\n\n\n2026-08-18 — 2:00pm EDT\n\nIn our fourth of five sessions\, we discuss Parts 6 and 7 of After the Accord by Kenneth Garbade. \n\nPart VI: The 1960s\n\nChapter 20: Treasury Debt Management in the 1960s\n\nSecular Variation of Marketable Debt\nTreasury Bills\n\nRegular Bills\nBill Strips\nTax Anticipation Bills\n\n\nCertificates\, Notes\, and Bonds\n\nMid-Quarter Refundings\nStand-Alone Offerings for New Money\nAdvance Refundings\n\nAdvance Refundings after Mid-1965\n\n\n\n\nThe Two Worlds of Treasury Finance\n\nAn Experiment in Auctioning Bonds\n\n\n\n\nChapter 21: Monetary Policy in the 1960s\n\n1961 to 1965\n1966\n\nThe August Money Panic\n\n\n\n\nChapter 22: Repurchase Agreements in the 1960s\n\nSystem Access to Repo Collateral\n\nRelaxing the Two-Year Maturity Limit\nEliminating the Two-Year Maturity Limit and Permitting Back-to-Back Repos\nSystem Repos on Agency Collateral\n\n\nMatched Sale-Purchase Agreements\nAn Unsuccessful Effort to Introduce More Flexible Repo Pricing\n\n\n\n\nPart VII: Updating Market Infrastructures: The Joint Study\n\nChapter 23: The Association of Primary Dealers\n\nArrivals and Departures\nFederal Reserve and Treasury Thinking About a Dealer Association\nPrecipitating Events\nFormation of the Association of Primary Dealers\n\n\nChapter 24: Dealer Finance\n\nDealer Finance and the Role of Money Market Banks as Residual Lenders\nRecommendations of the Joint Study Steering Committee\nResponse of the Federal Open Market Committee\n\n\nChapter 25: The Government Securities Clearing Arrangement\n\nSettling Transactions in Treasury Securities Before 1965\n\nIntracity Settlements\nCPD Settlement\n\n\nOrigins of the Clearing Arrangement\nThe Pilot Program\nIntracity Transfers\nBalancing the Demands of Competing Settlement Systems\nRemarks\n\n\nChapter 26: Securities Lending\n\nThe Impetus for a Federal Reserve Securities Lending Program\nThe Joint Study Proposal\n\nThe Staff Study\nDiscussion by the Steering Committee\nThe FOMC Response\n\n\nThe 1969 Fails Crisis\nThe FOMC Revisits Securities Lending\nWhether to Lend Against Short Sales\n\n\nChapter 27: The Book-Entry System\, Part I\n\nOrigins of the Book-Entry System\nIssues in Creating a Book-Entry System\nThe First Implementation\nThe Second Implementation\nWhat Remained to be Done\n\n\n\n\n\n\n2026-08-25 — 2:00pm EDT\n\nIn our last of five sessions\, we discuss Parts 8 and 9 of After the Accord by Kenneth Garbade. \n\nPart VIII: The 1970s\n\nChapter 28: Treasury Debt Management in the 1970s\n\nMarketable Treasury Debt in the 1970s\n\nRegular Bills\nThirteen- and Twenty-Six-Week Bills\nNine-Month Bills and One-Year Bills\nBill Strips\nIrregular Bills\nNotes and Bonds\nAverage Maturity\n\n\nThe Introduction of Treasury Note and Bond Auctions\n\nThe May 1970 Refunding\nThe First Auction\nSubsequent Auction Offerings of Notes and Bonds\nConsequences of Bond Auctions for Advance Refundings\nFine-Tuning the Auction Process\n\nA Failed Auction and the Advent of Yield Auctions\nThe End of Single-Price Auctions\n\n\nA Last Harrah for Fixed-Price Offerings\n\n\nThe Advent of Regular and Predictable Note and Bond Offerings\n\nThe Introduction of Two-Year Cycle Notes\nExtending Regular and Predictable Issuance to Intermediate-Term Notes\nMid-Quarter Refundings and Fifteen-Year Bonds\n\n\nA Recapitulation of Treasury Debt Management Innovations in the 1970s\n\n\nChapter 29: Monetary Policy in the 1970s\n\n1970-1971\n1972-1973\n1974-1979\nFluctuations in Autonomous Factors\n\nTreasury Deposits at Federal Reserve Banks\nFloat\nBank Borrowing at the Discount Window\n\n\nThe End (Sort of) of Even Keel\n\n\nChapter 30: Open Market Operations in the 1970s\n\nThe Operating Environment\n\nTreasury Cash Management\n\n\nThe Continuing Problem with Liquidity\n\nCompetitive Repo Pricing\nSystem Repos with Bank Dealers\nAnother Way Around the Barn\n\n\nOutright Transactions in Federal Agency Debt\n\nReconsideration\nSubsequent Events\n\n\n\n\n\n\nPart IX: Infrastructure in the 1970s\n\nChapter 31: The Secondary Market in the 1970s\n\nPrimary Dealers\nThe Interdealer Broker Market\n\nManaging the Risks of Blind Brokerage\nSeparating Reporting Dealer Status from Primary Dealer Status\n\n\nThe Rise of Screen Brokers\n\n\nChapter 32: The Book-Entry System\, Part II\n\nThe Insurance Crisis\nExpansion of the Book-Entry System\nConfronting the Limits of Technology\nThe End of the GSCA and the End of Definitive Securities\n\n\nChapter 33: Coda\n\nInitial Actions\n\nThe 1953 Operating Principles\nEven Keeling\n\n\nA Metaphor for Change\nTreasury Debt Management\n\nAuctions of Coupon-Bearing Debt\n\n\nOpen Market Operations\nFailed and Supplanted Initiatives\nInter-Agency Accommodations\n\nOperation Twist\nTreasury Cash Management\nCash Management Bills\n\n\nMarket Infrastructure\n\nGovernment Securities Clearing Arrangement\nBook-Entry II\nSecurities Lending\nThe Association of Primary Dealers in US Government Securities\n\n\nRecapitulation\n\n\nChapter 34: After 1979\n\nTreasury Debt Management\n\nNew Securities\nAuction Innovations\n\n\nMarket Infrastructure\n\nDrysdale\nESM and Bevill\, Bresler\nThe Government Securities Clearing Corporation\nAccess to the Interdealer Broker Market\n\n\n\n\n\n\n\n\nFuture Suggested Readings\n\n\nHow a Ledger Became a Central Bank: A Monetary History of the Bank of Amsterdam by Quinn and Roberds (2023)\nThe Almighty Dollar: 500 Years of the World’s Most Powerful Money by Brendan Greeley (2026)\nWell Worth Saving: How the New Deal Safeguarded Home Ownership by Fishback\, Rose\, and Snowden (2013)\nSlapped by the Invisible Hand: The Panic of 2007 by Gary Gorton (2010)\nThe House of Morgan by Ron Chernow (1990)\nA Study of Money Flows in the United States by Morris Copeland (1952)\nA History of the Greenbacks by Wesley Clair Mitchell (1903)\nCalming the Storms: The Carry Trade\, the Banking School and British Financial Crises Since 1825 by Charles Read (2023)\nBenjamin Strong: Central Banker by Lester V. Chandler (1958)\nAn Engine\, Not a Camera: How Financial Models Shape Markets by Donald MacKenzie (2007)\nCurrency and Credit (4e) by Ralph Hawtrey (1950)\nThe Golden Age of the Quantity Theory by David Laidler (1991)\nCapitalizing on Crisis: The Political Origins of the Rise of Finance by Greta Krippner (2011)\nThe Federal Reserve System by Paul Warburg (1930)\nCentral Bank Capitalism: Monetary Policy in Times of Crisis by Joscha Wullweber (2024)\nIntroduction to Central Banking by Ulrich Bindseil and Alessio Fota (2021)\nThe Chairman: John J. McCloy & The Making of the American Establishment by Kai Bird (1992)\nManias\, Panics\, and Crashes (8e) by Robert McCauley (2023)\nThe Bailout State: Why Governments Rescue Banks\, Not People by Martijn Konings (2025)\n\n\nPast Readings with Discussion Recordings\n\n\nMinsky by Daniel H. Neilson (2019)\n2021-03-24 — Discussion Session 1\n2021-03-31 — Discussion Session 2\n2021-04-07 — Discussion with Daniel Neilson\nThe Art of Central Banking (Chapter IV) by Ralph Hawtrey (1933)\n2021-04-21 — Discussion Session 1\n2021-05-05 — Discussion Session 2\n2021-05-26 — Discussion with David Glasner\nMaking Money: Coin\, Currency\, and the Coming of Capitalism by Christine Desan (2014)\n2021-06-02 — Discussion Session 1\n2021-06-16 — Discussion Session 2\n2021-06-30 — Discussion Session 3\n2021-07-14 — Discussion with Christine Desan\nMoney in a Theory of Finance by John G. Gurley\, Edward S. Shaw (1960)\n2021-07-21 — Discussion Session 1\n2021-08-04 — Discussion Session 2\n2021-08-18 — Discussion Session 3\nThe World in Depression\, 1929-1939 by Charles P. Kindleberger (1973)\n2021-09-01 — Discussion Session 1\n2021-09-15 — Discussion Session 2\n2021-09-29 — Discussion Session 3\nThe Rise of Carry by Jamie Lee et al (2019)\n2021-10-13 — Discussion Session 1\n2021-10-27 — Discussion Session 2\nThe Money Interest and the Public Interest by Perry Mehrling (1998)\n2021-11-10 — Discussion Session 1 | Allyn Young\n2021-11-24 — Discussion Session 2 | Alvin Hanson\n2021-12-08 — Discussion Session 3 | Edward Shaw\nControlling Credit by Eric Monnet (2018)\n2022-01-05 — Discussion Session 1\n2022-01-19 — Discussion Session 2\nThe Menace of Fiscal QE by George Selgin (2020)\n2022-02-02 — Discussion Session\nThe New Lombard Street by Perry Mehrling (2011)\n2022-02-23 — Discussion Session 1\n2022-03-09 — Discussion Session 2\n2022-03-23 — Discussion Session 3\nFighting Financial Crises: Learning from the Past by Gary Gorton\, Ellis Tallman (2021)\n2022-04-20 — Discussion Session 1\n2022-05-11 — Discussion Session 2\nMoney and empire: The international gold standard\, 1890-1914 by Marcello De Cecco (1974)\n2022-05-25 — Discussion Session 1\n2022-06-15 — Discussion Session 2\nCentral Bank Cooperation 1924-31 by Stephen Clarke (1967)\n2022-06-22 — Discussion Session 1\n2022-07-06 — Discussion Session 2\nThe Money Problem: Rethinking Financial Regulation by Morgan Ricks (2016)\n2022-07-27 — Discussion Session 1\n2022-08-10 — Discussion Session 2\n2022-08-17 — Discussion with Morgan Ricks\nThe Evolution of Central Banking: Theory and History by Stefano Ugolini (2017)\n2022-08-24 — Discussion Session 1\n2022-09-07 — Discussion Session 2\n2022-09-21 — Discussion Session 3\n2022-10-05 — Discussion with Stefano Ugolini\nA Financial History of Western Europe by Charles P. Kindleberger (1984\, 1993)\n2022-10-19 — Discussion Session 1 | Part 1: Money\n2022-11-02 — Discussion Session 2 | Part 2: Banking\n2022-11-16 — Discussion Session 3 | Part 3: Finance\n2023-01-11 — Discussion Session 4 | Part 4: The Interwar Period\n2023-01-18 — Discussion Session 5 | Part 5: After World War II\nMoney and Empire: Charles P. Kindleberger and the Dollar System by Perry Mehrling (2022)\n2022-11-30 — Discussion Session 1 | Part 1: Intellectual Formation\, 1910–1948\n2022-12-14 — Discussion Session 2 | Part 2: International Economist\, 1948–1976\n2022-12-21 — Discussion Session 3 | Part 3: Historical Economist\, 1976–2003\n2022-12-21 — Discussion #1 with Perry Mehrling\n2023-01-04 — Discussion #2 with Perry Mehrling\nBonds without Borders: A History of the Eurobond Market by Chris O’Malley (2015)\n2023-02-15 — Discussion Session 1\n2023-03-01 — Discussion Session 2\nMonetary Policy Operations and the Financial System by Ulrich Bindseil (2014)\n2023-03-15 — Discussion Session 1 (Ch 1-8)\n2023-03-29 — Discussion Session 2 (Ch 9-12)\n2023-04-12 — Discussion Session 3 (Ch 13-18)\nCapital Wars: The Rise of Global Liquidity by Michael J. Howell (2020)\n2023-04-26 — Discussion Session 1 (Ch 1-7)\n2023-05-10 — Discussion Session 2 (Ch 8-14)\nA Market Theory of Money by John Hicks (1989)\n2023-05-24 — Discussion Session 1 (Ch 1-7)\n2023-06-07 — Discussion Session 2 (Ch 8-15)\nThe Currency of Politics: The Political Theory of Money from Aristotle to Keynes by Stefan Eich (2022)\n2023-06-28 — Discussion Session 1 (Ch 1 & 2)\n2023-07-19 — Discussion Session 2 (Ch 3 & 4)\n2023-08-02 — Discussion Session 3 (Ch 5 & 6)\n2023-08-14 — Discussion with Stefan Eich\nFischer Black and the Revolutionary Idea of Finance by Perry Mehrling (2005)\n2023-08-22 — Discussion Session 1 (Ch 1–5)\n2023-09-05 — Discussion Session 2 (Ch 6–8)\n2023-09-19 — Discussion Session 3 (Ch 9–11)\n2023-09-26 — Discussion with Perry Mehrling\nThe Evolution of Central Banks by Charles Goodhart (1988)\n2023-10-03 — Discussion Session 1 (Ch 1–6)\n2023-10-17 — Discussion Session 2 (Ch 7–8\, Appendix)\nThe Repo Market: Shorts\, Shortages\, and Squeezes by Scott Skyrm (2023)\n2023-11-07 — Discussion Session 1 (pages 1–92)\n2023-11-21 — Discussion Session 2 (pages 93–186)\n2023-12-05 — Discussion Session 3 (pages 187–310) Part 1 — Part 2\n2023-12-12 — Discussion with Scott Skyrm From 39:20\nThe Volatility Machine: Emerging Economies and the Threat of Financial Collapse by Michael Pettis (2001)\n2023-12-19 — Discussion Session 1 (Ch 1–5)\n2024-01-02 — Discussion Session 2 (Ch 6–10)\n2024-01-09 — Discussion with Michael Pettis\nInternational Capital Movements by Charles P. Kindleberger (1987)\n2024-01-16 — Discussion Session 1 (Ch 1 & 2)\n2024-01-30 — Discussion Session 2 (Ch 3 & 4)\nA Political Theory of Money by Anush Kapadia (2024)\n2024-02-20 — Discussion Session 1 (Ch 1–4)\n2024-03-05 — Discussion Session 2 (Ch 5–7)\n2024-03-19 — Discussion Session 3 (Ch 8–12)\n2024-03-26 — Discussion with Anush Kapadia\nThe Rise of Central Banks: State Power in Financial Capitalism by Leon Wansleben (2023)\n2024-04-02 — Discussion Session 1 (Ch 1–3)\n2024-04-23 — Discussion Session 2 (Ch 4–6)\n2024-05-07 — Discussion with Leon Wansleben\nThe Money Illusion: Market Monetarism\, the Great Recession\, and the Future of Monetary Policy by Scott Sumner (2021)\n2024-05-14 — Discussion Session 1 (Parts 1 & 2)\n2024-05-28 — Discussion Session 2 (Parts 3 & 4)\n2024-06-18 — Discussion Session 3 (Parts 5 & 6)\n2024-06-25 — Discussion with Scott Sumner\nPrivate Money and Public Currencies: The Sixteenth Century Challenge: The Sixteenth Century Challenge by Boyer-Xambeu\, Deleplace\, and Gillard (1994)\n2024-07-02 — Discussion Session 1 (Ch 1–3)\n2024-07-16 — Discussion Session 2 (Ch 4 & 5)\n2024-07-30 — Discussion Session 3 (Ch 6\, 7 & Conclusion)\nThe Arena of International Finance by Charles A. Coombs (1976)\n2024-08-13 — Discussion Session 1 (Ch 1ー6)\n2024-08-27 — Discussion Session 2 (Ch 7–12)\nThe Bill on London: or The Finance of Trade by Bills of Exchange by Gillett Brothers (1952/1976)\n2024-09-17 — Discussion Session\nBirth of a Market: The U.S. Treasury Securities Market from the Great War to the Great Depression by Kenneth D. Garbade (2012)\n2024-10-01 — Discussion Session 1 (Ch 1–10)\n2024-10-15 — Discussion Session 2 (Ch 11–15)\n2024-10-29 — Discussion Session 3 (Ch 16–24)\nA Monetary and Fiscal History of the United States\, 1961–2021 by Alan S. Blinder (2022)\n2024-11-12 — Discussion Session 1 (Ch 1–7)\n2024-11-26 — Discussion Session 2 (Ch 8–13)\n2024-12-10 — Discussion Session 3 (Ch 14–19)\nBuilding a Ruin: The Cold War Politics of Soviet Economic Reform by Yakov Feygin (2024)\n2025-01-07 — Discussion Session 1 (Ch 1–3)\n2025-01-21 — Discussion Session 2 (Ch 4–6)\n2025-02-04 — Discussion Session 3 (Ch 7 & Afterword)\nA Crash Course on Crises: Macroeconomic Concepts for Run-Ups\, Collapses\, and Recoveries by Markus K. Brunnermeier and Ricardo Reis (2023)\n2025-02-25 — Discussion Session 1 (Parts 1 and 2)\n2025-03-11 — Discussion Session 2 (Parts 3 and 4)\nThe Empire of Value: A New Foundation for Economics by Andre Orlean (2014)\n2025-03-25 — Discussion Session 1 (Introduction and Part 1) Part 1 — Part 2\n2025-04-08 — Discussion Session 2 (Parts 2 and 3)\n2025-04-22 — Discussion Session 3 (Part 4 and Conclusion)\nThe Wheels of Commerce by Fernand Braudel (1979/1982)\n2025-05-06 — Discussion Session 1 (Chapter 1)\n2025-05-13 — Discussion Session 2 (Chapter 2)\n2025-05-20 — Discussion Session 3 (Chapter 3)\n2025-05-27 — Discussion Session 4 (Chapter 4)\n2025-06-03 — Discussion Session 5 (Chapter 5)\nBeyond Banks: Technology\, Regulation\, and the Future of Money by Dan Awrey (2024)\n2025-06-17 — Discussion Session 1 (Intro & Ch 1–3)\n2025-07-01 — Discussion Session 5 (Ch 4–7 & Conclusion)\n2025-07-08 — Discussion with Dan Awrey\nOur Dollar\, Your Problem: An Insider’s View of Seven Turbulent Decades of Global Finance by Kenneth Rogoff (2025)\n2025-08-19— Discussion Session 1 (Parts 1-3)\n2025-08-26 — Discussion Session 2 (Parts 4-6)\nCentral Banking Before 1800: A Rehabilitation by Ulrich Bindseil (2019)\n2025-09-01 — Discussion Session 1 (Ch 1&2)\n2025-09-15 — Discussion Session 2 (Ch 3–5)\n2025-09-29 — Discussion Session 3 (Ch 6&7)\n2025-10-13 — Discussion with Ulrich Bindseil\nThe Long Twentieth Century: Money\, Power and the Origins of Our Times by Giovanni Arrighi (2010)\n2025-10-20 — Discussion Session 1 (Ch 1&2)\n2025-11-03 — Discussion Session 2 (Ch 3)\n2025-11-10 — Discussion Session 3 (Ch 4)\nFragile by Design: The Political Origins of Banking Crises and Scarce Credit by Charles W. Calomiris and Stephen Haber (2014)\n2025-11-17 — Discussion Session 1 (Ch 1–5)\n2025-12-01 — Discussion Session 2 (Ch 6-9)\n2025-12-15 — Discussion Session 3 (Ch 10–15)\n2026-01-05 — Discussion with Charles Calomiris\nTreatise on Money by Joseph Schumpeter (1970/2014)\n2026-01-12 — Discussion Session 1 (Ch 1–3)\n2026-01-27 — Discussion Session 2 (Ch 4–7)\n2026-02-10 — Discussion Session 3 (Ch 8–10)\n2026-02-24 — Discussion Session 4 (Ch 11–12)\nBetween Payments and Credit: An Introduction to the IOU Economy by George Pantelopoulos (2025)\n2026-03-10 — Discussion Session 1 (Ch 1–5)\n2026-03-24 — Discussion Session 2 (Ch 6–10)\n2026-04-07 — Discussion Session 3 (Ch 11–13)\n2026-04-14 — Discussion with George Pantelopoulos\nAgainst Money by J. W. Mason and Arjun Jayadev (2026)\n2026-05-05 — Discussion Session 1 (ch 1–4)\n2026-05-12 — Discussion Session 2 (ch 5–7)\n2026-06-12 — Discussion with J.W. Mason\nOur Money: Monetary Policy as if Democracy Matters by Leah Downey (2025)\n2026-06-02 — Discussion Session 1 (Ch 1–3)\n2026-06-16 — Discussion Session 2 (Ch 4–8)\nThe History of Money: A Story of Humanity by David McWilliams (2024)\n2026-06-23 — Discussion Session 1 (Parts 1 & 2)\n2026-07-07 — Discussion Session 2 (Parts 3–5)\n\n\nOff-Week Sessions\n\n2021-05-19 BIS Working Paper: Breaking free of the triple coincidence in international finance (2015)\n2021-07-07 Global Domain of the Dollar: 8 Questions by Robert McCauley Author Discussion\n2021-07-28 BIS and Bank of England reports on Central Bank Digital Currencies\n2022-09-28 The Crypto Banking System by Sébastien Derivaux (2022) Author Discussion\n2023-04-05 Discussion of Silicon Valley Bank\n2023-04-19 Institutional Cash Pools by Zoltan Pozsar (2011)\n2023-05-03 BIS Bulletin #73: Stablecoins vs. Tokenized Deposits (May 3\, 2023)\n2023-07-05 The Credit–Money Hierarchy: a Republican \, Egalitarian Appraisal by Aaron James (2023)\n2023-07-26 Public Purpose Finance: The Government’s Role as Lender by Nadav Orian Peer (2020) Author Discussion 2023-10-24 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 1\n2023-10-31 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 2\n2023-11-14 ICMA Repo FAQ by Richard Comotto (2013/2019)\n2023-11-28 Basis Trades and Treasury Market Illiquidity by Daniel Barth & Jay Kahn (2020)\n2024-01-23 Capital flows and the current account by Borio and Disyatat (2015)\n2024-02-13 The dual currency system of Renaissance Europe by Luca Fantacci (2008)\n2024-02-27 BIS: Buy now\, pay later: a cross-country analysis by Cornelli et al. (2023)\n2024-03-12 The non-use of money in the Middle Ages by Bell\, Brooks\, and Moore (2017)\n2024-04-09 The Central Role of Credit Crunches in Recent Financial History by Albert M. Wojnilower (1980)\n2024-04-16 Measuring Equilibrium in the Balance of Payments by Charles P. Kindleberger (1969)\n2024-04-30 The Rise and Risks of Private Credit — GFSR (April\, 2024)\n2024-06-04 BIS Working Paper No 1100: Getting up from the floor by Claudio Borio (May\, 2023)\n2024-06-11 The Offshore Dollar and US Policy by Robert McCauley (May\, 2024)\n2024-07-09 The (impossible) repo trinity: the political economy of repo markets by Daniela Gabor (2016)\n2024-08-07 A Safe Haven for Hidden Risks (May 30\, 2024) and Rate Transformation (November 4\, 2023) by Elham Saeidinezhad\n2024-08-20 The Collateral Supply Effect on Central Bank Policy by Carolyn Sissoko (2020)\n2024-09-10 Monetary Policy Implications of Market Maker of Last Resort Operations by Anil K Kashyap (August 23\, 2024)\n2024-11-05 BIS Bulletin No 90: The market turbulence and carry trade unwind of August 2024 (August 27\, 2024)\n2024-11-19 Yen Carry Trade and the Subprime Crisis by Masazumi Hattori and Hyun Song Shin (2009)\n2024-12-03 After the Allocation: What Role for the Special Drawing Rights System? by Pforr\, Pape\, and Murau (2022)\n2025-01-14 Where Profits Come From by the Levy Forecasting Center by Levy\, Farnham\, & Rajan (2008/1997)\n2025-01-28 The Broad Consequences of Narrow Banking by Matheus R. Grasseli and Alexander Lipton (2019)\n2025-02-11 Failing Banks by Sergio Correia\, Stephen Luck\, and Emil Verner (2024)\n2025-02-18 Odd Lots — The Hidden History of Eurodollars by Lev Menand and Joshua Younger (January 2025)\n2025-03-04 Of Last Resort: Evaluating the Treasury-Equity Model of Federal Reserve Emergency Lending by Steven Kelly (2024)\n2025-03-18 Commercial Banking and Capital Formation I–IV by Harold Moulton (1918)\n2025-04-01 Climate Alignment For Banks: The Stories That Numbers Tell by Nadav Orian Peer (2025) Author Discussion\n2025-04-15 Shadow Banking: Why Modern Money Markets are Less Stable Than 19th c. Money Markets But Shouldn’t Be Stabilized by a ‘Dealer of Last Resort’ by Carolyn Sissoko (2014)\n2025-04-29 Treasury Market and the Basis Trade (Adrian et al. 2025; Kashyap et al. 2025)\n2025-06-10 Structural Changes in the Global Financial System lecture by Hyun Song Shin (May 19\, 2025)\n2025-06-24 International Regimes\, Transactions\, and Change: Embedded Liberalism in the Postwar Economic Order by John Gerard Ruggie (1982)\n2025-07-15 BIS Annual Report Chapter: Financial conditions in a changing global financial system (2025)\n2025-07-22 Banks Are Intermediaries of Loanable Funds by George Selgin (2024)\n2025-07-29 Theorising non-bank financial intermediation by Jo Michell (2024)\n2025-08-05 Banks are different: why bank-based versus market-based lending is a false dichotomy by Carolyn Sissoko (2024)\n2025-09-08 Did France Cause the Great Depression? by Douglas A. Irwin (2010)\n2025-09-22 Rethinking Monetary Sovereignty: The Global Credit Money System and the State by Murau and van’t Klooster (2023)\n2025-10-06 Rethinking currency internationalisation: offshore money creation and the EU’s monetary governance by Murau and van’t Klooster (2025)\n2025-10-27 BIS Bulletin No 114: “Financial channel implications of a weaker dollar for emerging market economies” by Juselius\, Wooldridge and Xia (October 13\, 2025)\n2025-11-24 Bubble or Nothing: Data Center Project Finance by Advait Arun (November 12\, 2025)\n2025-12-08 Discussion of Debate over Whether Money Multiplier Requires Cash Lending\n2026-01-20 Gresham’s Law by Charles P. Kindleberger (1989)\n2026-02-03 The Law of One Price by Charles P. Kindleberger (1989)\n2026-02-17 Bank Runs With and Without Bank Failures by Correia\, Luck\, and Verner (2026)\n2026-03-03 Monetary Experience and the Theory of Money by John Hicks (1977)\n2026-03-31 What Is Money (1913) and The Credit Theory of Money (1914) by A. Mitchell-Innes\n2026-04-21 Covered interest parity lost: understanding the cross-currency basis by Borio et al. (2016)\n2026-04-28 Decoupling Dollar and Treasury Privilege by Du\, Keerati\, and Schreger (2025)\n2026-06-30 FEDS Note: Decomposing Hedge Funds’ U.S. Treasury Exposures by Phillip J. Monin (June 22\, 2026)\n2026-07-14 The Chicago Plan Revisited by Benes and Kumhof (2012)
URL:https://heske.wisdmlabs.net/event/money-view-reading-group/2026-09-22/
CATEGORIES:A series of zooms
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LOCATION:https://heske.wisdmlabs.net/event/money-view-reading-group/2026-09-22/
END:VEVENT
BEGIN:VEVENT
DTSTART;VALUE=DATE:20260923
DTEND;VALUE=DATE:20260924
DTSTAMP:20260422T183310Z
CREATED:20260323T145935Z
LAST-MODIFIED:20260422T183310Z
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SUMMARY:Keynes hoy: incertidumbre\, política económica y dinero
DESCRIPTION:Keynes Year 2026: Relevance\, Crisis\, and Transformations of Keynesian Thought\n???? Mexico City???? 21–25 September 2026???? Universidad Autónoma Metropolitana – Universidad Nacional Autónoma de México \n???? Website: www.keynes2026.com \n???? About the Project\nThis project is part of the international academic initiative Keynes Year 2026\, led by the Universidad Autónoma Metropolitana (UAM) in collaboration with the Universidad Nacional Autónoma de México (UNAM)\, with the support of the Young Scholars Initiative (YSI) of the Institute for New Economic Thinking. \nThe initiative marks two major anniversaries in the history of economic thought: the 90th anniversary of the publication of The General Theory of Employment\, Interest and Money (1936) and the 80th anniversary of the death of John Maynard Keynes (1946). \nThe project aims to critically revisit the legacy of Keynesian thought and its relevance to contemporary global challenges. Rather than a purely commemorative event\, it seeks to reactivate Keynesian debates from a plural and international perspective\, engaging with issues such as persistent inequality\, economic stagnation\, financial fragility\, ecological crisis\, and the transformations of the State and democracy in the twenty-first century. \nThis event will culminate in major academic publications\, including: \n\na monographic volume edited by the Universidad Autónoma Metropolitana\,\nspecial issue in El Trimestre Económico \nspecial issue in Investigación Económica\n\nKEYNOTE SPEAKERS: \nJosé Antonio Ocampo (Columbia University) \nJan Toporowski (King’s college London) \nMaria Eugenia Romero Sotelo (Facultad de Economía-UNAM) \nFederico Novelo (Universidad Autónoma Metropolitana-Xochimilco) \nHa Joon Chang (SOAS University) \nEsteban Pérez Caldentey (ECLAC) \nNoemi Levy (Facultad de Economía -UNAM) \n???? Event Structure\n\n\nInternational Conference (main event) \n\n\nYSI Workshop for young scholars \n\n\nThematic panels and academic discussions \n\n\nCollective discussion spaces and networking \n\n\n???? Thematic Tracks\n\n\nKeynes and the General Theory at 90 \n\n\nKeynes and economic crises: past and present \n\n\nEffective demand\, stagnation\, and inequality \n\n\nUncertainty and expectations in contemporary capitalism \n\n\nKeynes\, the State\, and economic policy \n\n\nTensions between market\, democracy\, and equality \n\n\nKeynes and neoliberalism: limits and transformations \n\n\nPost-Keynesian\, structuralist\, and critical political economy approaches \n\n\nKeynesian thought in the Global South \n\n\nGlobal challenges: finance\, inequality\, and climate crisis \n\n\n???? Call for Papers\nWe invite submissions from graduate students\, early-career researchers\, and scholars working on Keynesian and Post-Keynesian economics\, political economy\, development\, and macroeconomic policy. \nSubmissions may include: \n\n\nFull papers \n\n\nExtended abstracts (300–500 words) \n\n\nWorking languages: \n\n\nEnglish \n\n\nSpanish \n\n\nParticipation format: \n\n\nIn-person (Mexico City) \n\n\nOnline participation \n\n\n???? Submission Requirements\n\n\nTitle of the paper \n\n\nAbstract (300–500 words) \n\n\nFull name \n\n\nInstitutional affiliation \n\n\nCountry \n\n\nEmail address \n\n\nPreferred language and participation format \n\n\n???? Important Dates\n\n\nSubmission deadline: 31 May 2026 \n\n\nNotification of acceptance: 30 June 2026 \n\n\nEvent dates: 21–25 September 2026 \n\n\n???? Contact\n???? callforkeynes2026@gmail.com???? Website: www.keynes2026.com \nNOTE: Partial reimbursement support is not guaranteed. The event will also include virtual sessions\, so these preferences must be duly indicated in the registration form. Acceptance of a paper does not imply the allocation of reimbursement or partial funding\, as these resources remain subject to consideration. \nAño Keynes 2026: Vigencia\, crisis y transformaciones del pensamiento keynesiano\n???? Ciudad de México???? 21–25 de septiembre de 2026???? Universidad Autónoma Metropolitana – Universidad Nacional Autónoma de México \n???? Sitio web: www.keynes2026.com \n???? Sobre el proyecto\nEste proyecto forma parte de la iniciativa académica internacional Año Keynes 2026\, liderada por la Universidad Autónoma Metropolitana (UAM) en colaboración con la Universidad Nacional Autónoma de México (UNAM)\, con el apoyo de la Young Scholars Initiative (YSI) del Institute for New Economic Thinking. \nLa iniciativa conmemora dos aniversarios fundamentales en la historia del pensamiento económico: el 90 aniversario de la publicación de The General Theory of Employment\, Interest and Money (1936) y el 80 aniversario del fallecimiento de John Maynard Keynes (1946). \nEl objetivo es revisitar críticamente el legado del pensamiento keynesiano y su relevancia frente a los desafíos contemporáneos. Más que un evento conmemorativo\, se busca reactivar los debates keynesianos desde una perspectiva plural e internacional\, abordando problemáticas como la desigualdad persistente\, el estancamiento económico\, la fragilidad financiera\, la crisis ecológica y las transformaciones del Estado y la democracia en el siglo XXI. \nKEYNOTE SPEAKERS: \nJosé Antonio Ocampo (Columbia University) \nJan Toporowski (King’s college London) \nMaria Eugenia Romero Sotelo (Facultad de Economía-UNAM) \nFederico Novelo (Universidad Autónoma Metropolitana-Xochimilco) \nHa Joon Chang (SOAS University) \nEsteban Pérez Caldentey (ECLAC) \nNoemi Levy (Facultad de Economía -UNAM) \n???? Estructura del evento\n\n\nConferencia internacional (evento principal) \n\n\nTaller (Workshop) YSI para jóvenes investigadores \n\n\nMesas temáticas con ponencias seleccionadas \n\n\nEspacios de discusión colectiva e intercambio académico \n\n\n???? Ejes temáticos\n\n\nLa Teoría General a 90 años: balances\, debates y controversias \n\n\nKeynes y las crisis económicas: paralelismos entre los años treinta y el presente \n\n\nDemanda efectiva\, estancamiento y desigualdad \n\n\nIncertidumbre y expectativas en el capitalismo contemporáneo \n\n\nKeynes\, el Estado y la política económica \n\n\nTensiones entre mercado\, democracia e igualdad \n\n\nKeynes frente al neoliberalismo y su agotamiento \n\n\nPoskeynesianismo\, estructuralismo y economía política crítica \n\n\nEl pensamiento keynesiano en el Sur Global \n\n\nDesafíos globales: finanzas\, desigualdad y crisis climática \n\n\n???? Convocatoria\nSe invita a estudiantes de posgrado\, investigadores jóvenes y académicos que trabajen en economía keynesiana y poskeynesiana\, economía política\, desarrollo y política macroeconómica. \nSe aceptan: \n\n\nArtículos completos \n\n\nResúmenes extendidos (300–500 palabras) \n\n\nIdiomas de trabajo: \n\n\nInglés \n\n\nEspañol \n\n\nModalidad de participación: \n\n\nPresencial (Ciudad de México) \n\n\nParticipación en línea \n\n\n???? Requisitos de envío\n\n\nTítulo de la ponencia \n\n\nResumen (300–500 palabras) \n\n\nNombre completo \n\n\nInstitución de adscripción \n\n\nPaís \n\n\nCorreo electrónico \n\n\nIdioma y modalidad preferente \n\n\n???? Fechas importantes\n\n\nFecha límite de envío: 31 de mayo de 2026 \n\n\nNotificación de aceptación: 30 de junio de 2026 \n\n\nFechas del evento: 21–25 de septiembre de 2026 \n\n\n???? Contacto\n???? callforkeynes2026@gmail.com???? Sitio web: www.keynes2026.com \nNOTA: El otorgamiento de apoyos para reembolso parcial no está garantizado. El evento contará también con sesiones en modalidad virtual\, por lo que estas preferencias deberán indicarse debidamente en el formulario de registro. Asimismo\, la aceptación de la ponencia no implica la asignación automática de reembolso o financiamiento parcial\, ya que estos recursos se encuentran sujetos a consideración.
URL:https://heske.wisdmlabs.net/event/keynes-hoy-incertidumbre-politica-economica-y-dinero/2026-09-23/
LOCATION:Periferico Sur\, UAM-UNAM\, Ciudad de México\, Ciudad de México\, 10100\, Mexico
CATEGORIES:A series of in-person events
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END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Paris:20260924T180000
DTEND;TZID=Europe/Paris:20260924T193000
DTSTAMP:20260714T162704Z
CREATED:20240117T145948Z
LAST-MODIFIED:20260714T162704Z
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SUMMARY:Money and Finance Reading Group
DESCRIPTION:This reading group has been created to amplify and deep our knowledge on money and finance from a wide perspective that can embrace the complexity of money’s nature\, thus\, the complexity of the financial system and its dynamics. Moreover\, as it was cleverly unveiled by Émile Zola in his book L’Argent\, the first book discussed in this reading group\, money and finance are rooted in every sphere of human beings (social\, political\, religious\, personal\, etc.)\, therefore\, their inquiring and comprehension cannot neglect this this reality. \nThe reading group started with an initial selection of books proposed by Professor Jan Toporowski\, however\, the path we will walk together will be opened and determined by the interests and tastes of the group members. \nList of Readings: \nZola Émile\, L’Argent\, 1891      Discussed \nSchumpeter\, J.A.S. History of Economic Analysis\, Chapter 8 on ‘Money\, Credit and Cycles’.  This chapter will be divided in two sessions. The first session will be on 25/01/24 and include sections 1 – 5 (From page 1040 to page 1074)\, the second will be on 29/02/2024 and include sections 6 – 9 (From page 1074 to page 1101). Discussed \nDiscussion of Schumpeter’s Chapter with the contribution of Professor Jan Toporowski. Discussed \nChick\, V. ‘The Evolution of the Banking System and the Theory of Saving\, Investment and Interest’ Économies et Sociétés Série MP no. 3 1986 and Arestis and Dow (eds.) On Money\, Method and Keynes\, Selected Essays of Victoria Chick 1992. Discussed on 11/04/2024 \nFor the last session on Chick’s Paper we will have Sheila Dow. Discussed on 3 May 2023. \nToporowski\, J. Interest and Capital The Monetary Economics of Michał Kalecki Oxford 2022\, Part 1. Discussed on 30/05/2024 \nToporowski\, J. Interest and Capital The Monetary Economics of Michał Kalecki Oxford 2022. Discussed on 05/07/2024 \n\n\n\nToporowski\, J. ‘Marx’s Critical Notes on the Classical Theory of Interest’ in J. Dellheim and F.O. Wolf (eds.) The Unfinished System of Karl Marx Critically Reading Capital as a Challenge to our Times London: Palgrave Macmillan 2018. Discussed on 01/08/2024 \n\n\n\nMarx\, K.H. Grundrisse Chapter 1\, on Money . Discussed on Discussed on 24/10/2024 \nPaper presentation ““Kalecki-Levy Profit Equation and Money View Angles on Chinese Economy and Markets”\, by Shengbei Guo\, on 21/11/2024. \n\n\n\nMarx\, K.H. Capital Volume II Part 1\, Ch 1 and 2\, will be discussed on 26/12/2024. \n\nMarx\, K.H. Capital Volume II Part 1\, Ch 3 to 6\, discussed on 30/01/2025. \nOn Marx’s monetary theory talk given by Riccardo Bellofiore\, retired Professor of Economics at the University of Bergamo\, Italy\, who has authored and co-authored “Theory of Plus-Value”\, “Marx on Money”\, “Production\, Circulation and Money”\, within others. Discussed on 06/03/2025. \nBellofiore\, R.\, ‘The monetary aspects of the capitalist process in the Marxian system: an investigation from the point of view of the theory of the monetary circuit’ in Marx’s Theory of Money: Modern Appraisals 2005. Discussed on 27/03/2025 \nBellofiore\, R. ‘Money and development in Schumpeter’ 1985. Discussed on 24/04/2025 \n\nTalk with Riccardo Bellofiore about the monetary theories of Marx\, the Theory of the Monetary Circuit\, Schumpeter and a bit of Wicksell. To be discussed on 29/05/2025 \nHayek\, F.A. Monetary Theory and the Trade Cycle 1929 Ch 1 and 2. Discussed on 26/06/2025 \nHayek\, F.A. Monetary Theory and the Trade Cycle 1929 Ch 3\, 4 and 5. Discussed on 24/07/2025 \nHawtrey\, R. G. Good and Bad Trade or Currency and Credit 1919. From Ch 1 to  7\, inclusive. To be discussed on 04/09/2025 \nHawtrey\, R. G. Currency and Credit 1930. Ch 3 and 4. To be discussed on 25/09/2025 \nHawtrey\, R. G. Currency and Credit 1930. Ch 5\, 6\, 7 and 8. To be discussed on 30/10/2025 \nHawtrey\, R. G. Currency and Credit 1930. Ch 9\, 10\, 11. To be discussed on 04/12/2025 \nWicksell\, K. Interest and Prices 1936\, Introduction by Bertil Ohlin\, Preface and Introduction (Ch 1) \nWicksell\, K. Interest and Prices 1936\, Ch 2\, 3\, 4\, 5\, 6. \nWicksell\, K. Interest and Prices 1936\, Ch 7\, 8\, 9. \nFriedman\, M. Quantity Theory of Money A Restatement Discussed on 28/05/2026 \nWoodford\, M. Interest and Prices Introduction; Chapters 1 Discussed on 25/06/2026 \nWoodford\, M. Interest and Prices Introduction; Chapters 2-3 To be discussed on 23/07/2026 \nExtraordinary session – Paper Presentation “Equilibra and Steady States: How to Model Modern Monetary Systems” by Aleksandar Stojanovič to be Discussed on 13/08/2-26 \n\n\n  \n\n\n 
URL:https://heske.wisdmlabs.net/event/money-and-finance-reading-group/2026-09-24/
CATEGORIES:A series of zooms
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LOCATION:https://heske.wisdmlabs.net/event/money-and-finance-reading-group/2026-09-24/
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=America/New_York:20260929T140000
DTEND;TZID=America/New_York:20260929T153000
DTSTAMP:20260717T225613Z
CREATED:20231212T030110Z
LAST-MODIFIED:20260717T225613Z
UID:10008203-1790690400-1790695800@heske.wisdmlabs.net
SUMMARY:Money View Reading Group
DESCRIPTION:The Money View Reading Group reads and discusses writings on money\, banking\, and finance. We are a self-directed group. Anyone interested in money and banking can read the readings\, join us for discussions\, or suggest future readings.\nWe meet for 90 minutes via Zoom on Tuesdays at 2 pm Eastern Time US (New York). \n\nCurrent Book\n\n\nAfter the Accord: A History of Federal Reserve Open Market Operations\, the US Government Securities Market\, and Treasury Debt Management from 1951 to 1979\n\nby Kenneth D. Garbade (2021) \nhttps://www.amazon.com/dp/1108839894/ \nFrom the description \nIn this book Garbade\, a former analyst at a primary dealer and researcher at the Federal Reserve Bank of New York\, traces the evolution of open market operations\, Treasury debt management\, and the microstructure of the US government securities markets following the 1951 Treasury-Federal Reserve. This volume examines how these operations evolved\, responding both to external forces and to one another. Utilising a vast scope of primary material\, the work provides insight into how officials fashioned the instruments\, facilities\, and procedures needed to advance their policy objectives in light of their novel freedoms and responsibilities. \nThis is a big book. As we did with Braudel’s The Wheel’s of Commerce last summer\, we are discussing this book in five back-to-back weekly sessions. \n\nUpcoming Sessions\n\n\n2026-07-21 – 2:00pm EDT\n\nDuring the off week\, we discuss Arthur C. Pigou’s Famous 1917 paper\, “The Value of Money.” \nhttps://www.jstor.org/stable/1885078?seq=1 \n\n2026-07-28 — 2:00pm EDT\n\nIn our first of five sessions\, we discuss Parts 1 and 2 of After the Accord by Kenneth Garbade. \n\nChapter 1: Introduction\n\nOpen Market Operations After the Accord\n\nBills Preferably\nRepurchase Agreements\nOpen Market Operations in Coupon-Bearing Debt\n\n\nTreasury Debt Management After the Accord\n\n\nPart I: The System and the Market in the 1940s\n\nChapter 2: The Government Securities Market\n\nWartime Interest Rate Ceilings\nFrom the End of the War to the End of 1949\nBill Auctions\nCash Subscription Offerings\nExchange Offerings\nAn Example\nThe Secondary Market\nThe Postwar Secondary Market\nThe Role of Dealers in Primary Market Offerings\n\n\nChapter 3: Reserves\, Reserve Requirements\, and Reserves Management\n\nReserve Requirements\n\nDemand Deposits\n\n\nReserves in Aggregate\nThe Inter-Bank Market for Federal Funds\nReserves Management\nAppendix: Treasury Cash Management\nAppendix: Identifying the Sources and Uses of Reserves\n\n\nChapter 4: The Institutional Framework of Open Market Operations\n\nThe Recognized Dealer Program\n\nFormalization of the Recognized Dealer Program\n\n\nAdvent of the Qualified Dealer Program\n\nRevising the Institutional Framework of Open Market Operations\nImplementing the Revised Framework\nThe Qualified Dealer Program at the End of the 1940s\n\n\nAppendix: Orderly Markets\n\nA Reexamination\n\n\n\n\n\n\nPart II: The Accord and Its Aftermath\n\nChapter 5: The Accord\n\nRun-Up to the Accord\nThe Accord\n\nThe Nomarketable Bond Offering\n\n\nAfter the Accord\n\n\nChapter 6: Taking Stock\n\nThe New York Reserve Bank Study\n\nThe Existing Framework\nProspects for Fundamental Change\n\nAn Exchange Market\nDirect Trading by Federal Reserve Banks\nReliance on Nonmarketable Long-Term Debt\n\n\nProspects for More Modest Changes\n\nExpanding the Number of Qualified Dealers\n\n\nRelations between the System and the Treasury\nSumming Up\n\n\nThe Ad Hoc Subcommittee Study\n\nSystem Intervention\n\nBills Preferably\nTreasury Financings\n\n\nDealer Qualification Requirements\nMarket Intelligence\n\n\n\n\nChapter 7: New Directions\n\nMarket Intervention\nDealer Relations\n\nMarket Intelligence\n\n\nSubsequent Actions\n\nThe End of the Qualified Dealer Program\nPublicizing the New Restrictions on Market Intervention\n\n\n\n\nChapter 8: Challenging the New Restrictions\n\nThe April 1953 Bond Offering\nThe Mid-May Executive Committee Meetings\n\nThe May 6 Meeting\nThe May 13 Meeting\nSystem Open Market Account Activity and Reserve Availability in May\n\n\nBreakdown and Intervention\nRevisiting the Restrictions on Intervention\n\nReimposition\n\n\nThe Controversy Becomes Public\n\n\nChapter 9: An Additional Limitation on the Conduct of Open Market Operations\n\nA Swap Authorization\nPushback\nRound Two\n\n\n\n\n\n\n2026-08-04 — 2:00pm EDT\n\nIn our second of five sessions\, we discuss Part 3 of After the Accord by Kenneth Garbade. \n\nPart III: The New Regime\n\nChapter 10: Monetary Policy in 1954\n\nMonitoring Economic Activity\nMonetary Policy\n\nThe Directives\nThe Minutes\n\n\nCaveats\n\n\nChapter 11: Policy Instruments for Reserves Management\n\nOutright Purchases and Sales of Treasury Bills\nRepurchase Agreements on Short-Term Treasury Securities\n\nRepurchase Agreements before the Accord\nPostwar Reinstatement\nLinking the Floor on Repo Rates to the Treasury Bill Rate Instead of the Discount Rate\nConsequences of the Accord\nRepurchase Agreements in 1954\nRobertson’s Resistance to System Repurchase Agreements\nThe Opening Round\nRobertson’s Critique\nA Proposal\nReconciliation\nSubsequent Events\n\n\n\n\nChapter 12: Monetary Policy in 1955\n\nFOMC Directives\nMoney Market Indicators\nTreasury Offerings of Coupon-Bearing Debt\n\nAttrition on Exchange Offerings\nMaintaining an Even Keel\n\n\nDefensive Operations\n\nWhen Reserves Needed to Be Drained\nTwo Work-Arounds\n\n\n\n\nChapter 13: Pragmatism in the Accommodation of Treasury Offerings\n\nRepurchase Agreements on Rights\nIntervention\nIntervention by Another Name\n\n\nChapter 14: 1956 and 1957\n\nDefensive Operations\n\nCurrency\nFloat\nTreasury Balances at Federal Reserve Banks\nForecasting Errors\n\n\nAccommodating Treasury Offerings\n\nThe May 1957 Refunding\nSubsequent Offerings in 1957\n\n\nThe Continuing Importance of Repurchase Agreements\n\n\n\n\n\n\n2026-08-11 — 2:00pm EDT\n\nIn our third of five sessions\, we discuss Parts 4 and 5 of After the Accord by Kenneth Garbade. \n\nPart IV: Summer 1958 and Its Consequences\n\nChapter 15: The Summer 1958 Treasury Financings\n\nAn Overview of 1958\nRun-Up to the June Financing\nThe June Financing\n\nResults of the Financing\n\n\nThe Aftermath of the June Financing\n\nThe Treasury Enters the Market\nTrading on July 8\nTreasury Reveals Its Purchases\n\n\nIraq and Lebanon\nThe July Refunding\n\nFriday\, July 18\nThe Subscription Period (Monday\, July 21 to Wednesday\, July 23)\nDenouement\n\n\nAftermath to the July Refunding\n\n\nChapter 16: Innovations in Treasury Debt Management\n\nA Need for Change\n\nTreasury Issuance of Coupon-Bearing Debt from 1953 to 1958\nGaines’s Critique\nTreasury Bills – A Bright Spot\nFriedman’s Recommendations\n\n\nTreasury’s Innovations\n\nIssuing and Redeeming Coupon-Bearing Debt on a Regular Schedule\nTwenty-Six-Week Bills\nCash Refundings\nThe Problem of SOMA Reinvestments\nAdvance Refundings\nWhy the Treasury Declined to Extend the Auction Process to Coupon-Bearing Securities\n\n\n\n\nChapter 17: The Treasury-Federal Reserve Study of the Government Securities Market\n\nMarket Statistics\n\nAdvent of the Reporting Dealer Program\n\nInitial Discussions\nA Joint Staff Proposal\nImplementation\n\n\n\n\nDealer Finance\nProspects for a Dealer Association\n\n\n\n\nPart V: The End of Bills Preferably\n\nChapter 18: The 1958-1960 Gold Drain\n\nGold in the International Payments System\nThe London Gold Market\nThe Place of Gold in FOMC Deliberations\nThe Break-out of London Gold Prices\nThe Place of Gold in FOMC Deliberations After the Break-out\nContemplating the Future\n\n\nChapter 19: Operation Twist\n\nHow Economists Viewed the Term Structure of Interest Rates\nThe February 7 Executive Session of the Federal Open Market Committee\nConducting Open Market Operations in Longer-Term Securities\nWhat\, Exactly\, Were the Objectives of the New Program?\nDisengagement?\nThe Scale of Open Market Operations in Longer-Term Securities\nAbandoning the 1953 Operating Principles\nOperation Twist After 1961\n\nNew Policy Instruments\nNew Empirical Evidence\n\n\nThe End of $35 Gold\n\n\n\n\n\n\n2026-08-18 — 2:00pm EDT\n\nIn our fourth of five sessions\, we discuss Parts 6 and 7 of After the Accord by Kenneth Garbade. \n\nPart VI: The 1960s\n\nChapter 20: Treasury Debt Management in the 1960s\n\nSecular Variation of Marketable Debt\nTreasury Bills\n\nRegular Bills\nBill Strips\nTax Anticipation Bills\n\n\nCertificates\, Notes\, and Bonds\n\nMid-Quarter Refundings\nStand-Alone Offerings for New Money\nAdvance Refundings\n\nAdvance Refundings after Mid-1965\n\n\n\n\nThe Two Worlds of Treasury Finance\n\nAn Experiment in Auctioning Bonds\n\n\n\n\nChapter 21: Monetary Policy in the 1960s\n\n1961 to 1965\n1966\n\nThe August Money Panic\n\n\n\n\nChapter 22: Repurchase Agreements in the 1960s\n\nSystem Access to Repo Collateral\n\nRelaxing the Two-Year Maturity Limit\nEliminating the Two-Year Maturity Limit and Permitting Back-to-Back Repos\nSystem Repos on Agency Collateral\n\n\nMatched Sale-Purchase Agreements\nAn Unsuccessful Effort to Introduce More Flexible Repo Pricing\n\n\n\n\nPart VII: Updating Market Infrastructures: The Joint Study\n\nChapter 23: The Association of Primary Dealers\n\nArrivals and Departures\nFederal Reserve and Treasury Thinking About a Dealer Association\nPrecipitating Events\nFormation of the Association of Primary Dealers\n\n\nChapter 24: Dealer Finance\n\nDealer Finance and the Role of Money Market Banks as Residual Lenders\nRecommendations of the Joint Study Steering Committee\nResponse of the Federal Open Market Committee\n\n\nChapter 25: The Government Securities Clearing Arrangement\n\nSettling Transactions in Treasury Securities Before 1965\n\nIntracity Settlements\nCPD Settlement\n\n\nOrigins of the Clearing Arrangement\nThe Pilot Program\nIntracity Transfers\nBalancing the Demands of Competing Settlement Systems\nRemarks\n\n\nChapter 26: Securities Lending\n\nThe Impetus for a Federal Reserve Securities Lending Program\nThe Joint Study Proposal\n\nThe Staff Study\nDiscussion by the Steering Committee\nThe FOMC Response\n\n\nThe 1969 Fails Crisis\nThe FOMC Revisits Securities Lending\nWhether to Lend Against Short Sales\n\n\nChapter 27: The Book-Entry System\, Part I\n\nOrigins of the Book-Entry System\nIssues in Creating a Book-Entry System\nThe First Implementation\nThe Second Implementation\nWhat Remained to be Done\n\n\n\n\n\n\n2026-08-25 — 2:00pm EDT\n\nIn our last of five sessions\, we discuss Parts 8 and 9 of After the Accord by Kenneth Garbade. \n\nPart VIII: The 1970s\n\nChapter 28: Treasury Debt Management in the 1970s\n\nMarketable Treasury Debt in the 1970s\n\nRegular Bills\nThirteen- and Twenty-Six-Week Bills\nNine-Month Bills and One-Year Bills\nBill Strips\nIrregular Bills\nNotes and Bonds\nAverage Maturity\n\n\nThe Introduction of Treasury Note and Bond Auctions\n\nThe May 1970 Refunding\nThe First Auction\nSubsequent Auction Offerings of Notes and Bonds\nConsequences of Bond Auctions for Advance Refundings\nFine-Tuning the Auction Process\n\nA Failed Auction and the Advent of Yield Auctions\nThe End of Single-Price Auctions\n\n\nA Last Harrah for Fixed-Price Offerings\n\n\nThe Advent of Regular and Predictable Note and Bond Offerings\n\nThe Introduction of Two-Year Cycle Notes\nExtending Regular and Predictable Issuance to Intermediate-Term Notes\nMid-Quarter Refundings and Fifteen-Year Bonds\n\n\nA Recapitulation of Treasury Debt Management Innovations in the 1970s\n\n\nChapter 29: Monetary Policy in the 1970s\n\n1970-1971\n1972-1973\n1974-1979\nFluctuations in Autonomous Factors\n\nTreasury Deposits at Federal Reserve Banks\nFloat\nBank Borrowing at the Discount Window\n\n\nThe End (Sort of) of Even Keel\n\n\nChapter 30: Open Market Operations in the 1970s\n\nThe Operating Environment\n\nTreasury Cash Management\n\n\nThe Continuing Problem with Liquidity\n\nCompetitive Repo Pricing\nSystem Repos with Bank Dealers\nAnother Way Around the Barn\n\n\nOutright Transactions in Federal Agency Debt\n\nReconsideration\nSubsequent Events\n\n\n\n\n\n\nPart IX: Infrastructure in the 1970s\n\nChapter 31: The Secondary Market in the 1970s\n\nPrimary Dealers\nThe Interdealer Broker Market\n\nManaging the Risks of Blind Brokerage\nSeparating Reporting Dealer Status from Primary Dealer Status\n\n\nThe Rise of Screen Brokers\n\n\nChapter 32: The Book-Entry System\, Part II\n\nThe Insurance Crisis\nExpansion of the Book-Entry System\nConfronting the Limits of Technology\nThe End of the GSCA and the End of Definitive Securities\n\n\nChapter 33: Coda\n\nInitial Actions\n\nThe 1953 Operating Principles\nEven Keeling\n\n\nA Metaphor for Change\nTreasury Debt Management\n\nAuctions of Coupon-Bearing Debt\n\n\nOpen Market Operations\nFailed and Supplanted Initiatives\nInter-Agency Accommodations\n\nOperation Twist\nTreasury Cash Management\nCash Management Bills\n\n\nMarket Infrastructure\n\nGovernment Securities Clearing Arrangement\nBook-Entry II\nSecurities Lending\nThe Association of Primary Dealers in US Government Securities\n\n\nRecapitulation\n\n\nChapter 34: After 1979\n\nTreasury Debt Management\n\nNew Securities\nAuction Innovations\n\n\nMarket Infrastructure\n\nDrysdale\nESM and Bevill\, Bresler\nThe Government Securities Clearing Corporation\nAccess to the Interdealer Broker Market\n\n\n\n\n\n\n\n\nFuture Suggested Readings\n\n\nHow a Ledger Became a Central Bank: A Monetary History of the Bank of Amsterdam by Quinn and Roberds (2023)\nThe Almighty Dollar: 500 Years of the World’s Most Powerful Money by Brendan Greeley (2026)\nWell Worth Saving: How the New Deal Safeguarded Home Ownership by Fishback\, Rose\, and Snowden (2013)\nSlapped by the Invisible Hand: The Panic of 2007 by Gary Gorton (2010)\nThe House of Morgan by Ron Chernow (1990)\nA Study of Money Flows in the United States by Morris Copeland (1952)\nA History of the Greenbacks by Wesley Clair Mitchell (1903)\nCalming the Storms: The Carry Trade\, the Banking School and British Financial Crises Since 1825 by Charles Read (2023)\nBenjamin Strong: Central Banker by Lester V. Chandler (1958)\nAn Engine\, Not a Camera: How Financial Models Shape Markets by Donald MacKenzie (2007)\nCurrency and Credit (4e) by Ralph Hawtrey (1950)\nThe Golden Age of the Quantity Theory by David Laidler (1991)\nCapitalizing on Crisis: The Political Origins of the Rise of Finance by Greta Krippner (2011)\nThe Federal Reserve System by Paul Warburg (1930)\nCentral Bank Capitalism: Monetary Policy in Times of Crisis by Joscha Wullweber (2024)\nIntroduction to Central Banking by Ulrich Bindseil and Alessio Fota (2021)\nThe Chairman: John J. McCloy & The Making of the American Establishment by Kai Bird (1992)\nManias\, Panics\, and Crashes (8e) by Robert McCauley (2023)\nThe Bailout State: Why Governments Rescue Banks\, Not People by Martijn Konings (2025)\n\n\nPast Readings with Discussion Recordings\n\n\nMinsky by Daniel H. Neilson (2019)\n2021-03-24 — Discussion Session 1\n2021-03-31 — Discussion Session 2\n2021-04-07 — Discussion with Daniel Neilson\nThe Art of Central Banking (Chapter IV) by Ralph Hawtrey (1933)\n2021-04-21 — Discussion Session 1\n2021-05-05 — Discussion Session 2\n2021-05-26 — Discussion with David Glasner\nMaking Money: Coin\, Currency\, and the Coming of Capitalism by Christine Desan (2014)\n2021-06-02 — Discussion Session 1\n2021-06-16 — Discussion Session 2\n2021-06-30 — Discussion Session 3\n2021-07-14 — Discussion with Christine Desan\nMoney in a Theory of Finance by John G. Gurley\, Edward S. Shaw (1960)\n2021-07-21 — Discussion Session 1\n2021-08-04 — Discussion Session 2\n2021-08-18 — Discussion Session 3\nThe World in Depression\, 1929-1939 by Charles P. Kindleberger (1973)\n2021-09-01 — Discussion Session 1\n2021-09-15 — Discussion Session 2\n2021-09-29 — Discussion Session 3\nThe Rise of Carry by Jamie Lee et al (2019)\n2021-10-13 — Discussion Session 1\n2021-10-27 — Discussion Session 2\nThe Money Interest and the Public Interest by Perry Mehrling (1998)\n2021-11-10 — Discussion Session 1 | Allyn Young\n2021-11-24 — Discussion Session 2 | Alvin Hanson\n2021-12-08 — Discussion Session 3 | Edward Shaw\nControlling Credit by Eric Monnet (2018)\n2022-01-05 — Discussion Session 1\n2022-01-19 — Discussion Session 2\nThe Menace of Fiscal QE by George Selgin (2020)\n2022-02-02 — Discussion Session\nThe New Lombard Street by Perry Mehrling (2011)\n2022-02-23 — Discussion Session 1\n2022-03-09 — Discussion Session 2\n2022-03-23 — Discussion Session 3\nFighting Financial Crises: Learning from the Past by Gary Gorton\, Ellis Tallman (2021)\n2022-04-20 — Discussion Session 1\n2022-05-11 — Discussion Session 2\nMoney and empire: The international gold standard\, 1890-1914 by Marcello De Cecco (1974)\n2022-05-25 — Discussion Session 1\n2022-06-15 — Discussion Session 2\nCentral Bank Cooperation 1924-31 by Stephen Clarke (1967)\n2022-06-22 — Discussion Session 1\n2022-07-06 — Discussion Session 2\nThe Money Problem: Rethinking Financial Regulation by Morgan Ricks (2016)\n2022-07-27 — Discussion Session 1\n2022-08-10 — Discussion Session 2\n2022-08-17 — Discussion with Morgan Ricks\nThe Evolution of Central Banking: Theory and History by Stefano Ugolini (2017)\n2022-08-24 — Discussion Session 1\n2022-09-07 — Discussion Session 2\n2022-09-21 — Discussion Session 3\n2022-10-05 — Discussion with Stefano Ugolini\nA Financial History of Western Europe by Charles P. Kindleberger (1984\, 1993)\n2022-10-19 — Discussion Session 1 | Part 1: Money\n2022-11-02 — Discussion Session 2 | Part 2: Banking\n2022-11-16 — Discussion Session 3 | Part 3: Finance\n2023-01-11 — Discussion Session 4 | Part 4: The Interwar Period\n2023-01-18 — Discussion Session 5 | Part 5: After World War II\nMoney and Empire: Charles P. Kindleberger and the Dollar System by Perry Mehrling (2022)\n2022-11-30 — Discussion Session 1 | Part 1: Intellectual Formation\, 1910–1948\n2022-12-14 — Discussion Session 2 | Part 2: International Economist\, 1948–1976\n2022-12-21 — Discussion Session 3 | Part 3: Historical Economist\, 1976–2003\n2022-12-21 — Discussion #1 with Perry Mehrling\n2023-01-04 — Discussion #2 with Perry Mehrling\nBonds without Borders: A History of the Eurobond Market by Chris O’Malley (2015)\n2023-02-15 — Discussion Session 1\n2023-03-01 — Discussion Session 2\nMonetary Policy Operations and the Financial System by Ulrich Bindseil (2014)\n2023-03-15 — Discussion Session 1 (Ch 1-8)\n2023-03-29 — Discussion Session 2 (Ch 9-12)\n2023-04-12 — Discussion Session 3 (Ch 13-18)\nCapital Wars: The Rise of Global Liquidity by Michael J. Howell (2020)\n2023-04-26 — Discussion Session 1 (Ch 1-7)\n2023-05-10 — Discussion Session 2 (Ch 8-14)\nA Market Theory of Money by John Hicks (1989)\n2023-05-24 — Discussion Session 1 (Ch 1-7)\n2023-06-07 — Discussion Session 2 (Ch 8-15)\nThe Currency of Politics: The Political Theory of Money from Aristotle to Keynes by Stefan Eich (2022)\n2023-06-28 — Discussion Session 1 (Ch 1 & 2)\n2023-07-19 — Discussion Session 2 (Ch 3 & 4)\n2023-08-02 — Discussion Session 3 (Ch 5 & 6)\n2023-08-14 — Discussion with Stefan Eich\nFischer Black and the Revolutionary Idea of Finance by Perry Mehrling (2005)\n2023-08-22 — Discussion Session 1 (Ch 1–5)\n2023-09-05 — Discussion Session 2 (Ch 6–8)\n2023-09-19 — Discussion Session 3 (Ch 9–11)\n2023-09-26 — Discussion with Perry Mehrling\nThe Evolution of Central Banks by Charles Goodhart (1988)\n2023-10-03 — Discussion Session 1 (Ch 1–6)\n2023-10-17 — Discussion Session 2 (Ch 7–8\, Appendix)\nThe Repo Market: Shorts\, Shortages\, and Squeezes by Scott Skyrm (2023)\n2023-11-07 — Discussion Session 1 (pages 1–92)\n2023-11-21 — Discussion Session 2 (pages 93–186)\n2023-12-05 — Discussion Session 3 (pages 187–310) Part 1 — Part 2\n2023-12-12 — Discussion with Scott Skyrm From 39:20\nThe Volatility Machine: Emerging Economies and the Threat of Financial Collapse by Michael Pettis (2001)\n2023-12-19 — Discussion Session 1 (Ch 1–5)\n2024-01-02 — Discussion Session 2 (Ch 6–10)\n2024-01-09 — Discussion with Michael Pettis\nInternational Capital Movements by Charles P. Kindleberger (1987)\n2024-01-16 — Discussion Session 1 (Ch 1 & 2)\n2024-01-30 — Discussion Session 2 (Ch 3 & 4)\nA Political Theory of Money by Anush Kapadia (2024)\n2024-02-20 — Discussion Session 1 (Ch 1–4)\n2024-03-05 — Discussion Session 2 (Ch 5–7)\n2024-03-19 — Discussion Session 3 (Ch 8–12)\n2024-03-26 — Discussion with Anush Kapadia\nThe Rise of Central Banks: State Power in Financial Capitalism by Leon Wansleben (2023)\n2024-04-02 — Discussion Session 1 (Ch 1–3)\n2024-04-23 — Discussion Session 2 (Ch 4–6)\n2024-05-07 — Discussion with Leon Wansleben\nThe Money Illusion: Market Monetarism\, the Great Recession\, and the Future of Monetary Policy by Scott Sumner (2021)\n2024-05-14 — Discussion Session 1 (Parts 1 & 2)\n2024-05-28 — Discussion Session 2 (Parts 3 & 4)\n2024-06-18 — Discussion Session 3 (Parts 5 & 6)\n2024-06-25 — Discussion with Scott Sumner\nPrivate Money and Public Currencies: The Sixteenth Century Challenge: The Sixteenth Century Challenge by Boyer-Xambeu\, Deleplace\, and Gillard (1994)\n2024-07-02 — Discussion Session 1 (Ch 1–3)\n2024-07-16 — Discussion Session 2 (Ch 4 & 5)\n2024-07-30 — Discussion Session 3 (Ch 6\, 7 & Conclusion)\nThe Arena of International Finance by Charles A. Coombs (1976)\n2024-08-13 — Discussion Session 1 (Ch 1ー6)\n2024-08-27 — Discussion Session 2 (Ch 7–12)\nThe Bill on London: or The Finance of Trade by Bills of Exchange by Gillett Brothers (1952/1976)\n2024-09-17 — Discussion Session\nBirth of a Market: The U.S. Treasury Securities Market from the Great War to the Great Depression by Kenneth D. Garbade (2012)\n2024-10-01 — Discussion Session 1 (Ch 1–10)\n2024-10-15 — Discussion Session 2 (Ch 11–15)\n2024-10-29 — Discussion Session 3 (Ch 16–24)\nA Monetary and Fiscal History of the United States\, 1961–2021 by Alan S. Blinder (2022)\n2024-11-12 — Discussion Session 1 (Ch 1–7)\n2024-11-26 — Discussion Session 2 (Ch 8–13)\n2024-12-10 — Discussion Session 3 (Ch 14–19)\nBuilding a Ruin: The Cold War Politics of Soviet Economic Reform by Yakov Feygin (2024)\n2025-01-07 — Discussion Session 1 (Ch 1–3)\n2025-01-21 — Discussion Session 2 (Ch 4–6)\n2025-02-04 — Discussion Session 3 (Ch 7 & Afterword)\nA Crash Course on Crises: Macroeconomic Concepts for Run-Ups\, Collapses\, and Recoveries by Markus K. Brunnermeier and Ricardo Reis (2023)\n2025-02-25 — Discussion Session 1 (Parts 1 and 2)\n2025-03-11 — Discussion Session 2 (Parts 3 and 4)\nThe Empire of Value: A New Foundation for Economics by Andre Orlean (2014)\n2025-03-25 — Discussion Session 1 (Introduction and Part 1) Part 1 — Part 2\n2025-04-08 — Discussion Session 2 (Parts 2 and 3)\n2025-04-22 — Discussion Session 3 (Part 4 and Conclusion)\nThe Wheels of Commerce by Fernand Braudel (1979/1982)\n2025-05-06 — Discussion Session 1 (Chapter 1)\n2025-05-13 — Discussion Session 2 (Chapter 2)\n2025-05-20 — Discussion Session 3 (Chapter 3)\n2025-05-27 — Discussion Session 4 (Chapter 4)\n2025-06-03 — Discussion Session 5 (Chapter 5)\nBeyond Banks: Technology\, Regulation\, and the Future of Money by Dan Awrey (2024)\n2025-06-17 — Discussion Session 1 (Intro & Ch 1–3)\n2025-07-01 — Discussion Session 5 (Ch 4–7 & Conclusion)\n2025-07-08 — Discussion with Dan Awrey\nOur Dollar\, Your Problem: An Insider’s View of Seven Turbulent Decades of Global Finance by Kenneth Rogoff (2025)\n2025-08-19— Discussion Session 1 (Parts 1-3)\n2025-08-26 — Discussion Session 2 (Parts 4-6)\nCentral Banking Before 1800: A Rehabilitation by Ulrich Bindseil (2019)\n2025-09-01 — Discussion Session 1 (Ch 1&2)\n2025-09-15 — Discussion Session 2 (Ch 3–5)\n2025-09-29 — Discussion Session 3 (Ch 6&7)\n2025-10-13 — Discussion with Ulrich Bindseil\nThe Long Twentieth Century: Money\, Power and the Origins of Our Times by Giovanni Arrighi (2010)\n2025-10-20 — Discussion Session 1 (Ch 1&2)\n2025-11-03 — Discussion Session 2 (Ch 3)\n2025-11-10 — Discussion Session 3 (Ch 4)\nFragile by Design: The Political Origins of Banking Crises and Scarce Credit by Charles W. Calomiris and Stephen Haber (2014)\n2025-11-17 — Discussion Session 1 (Ch 1–5)\n2025-12-01 — Discussion Session 2 (Ch 6-9)\n2025-12-15 — Discussion Session 3 (Ch 10–15)\n2026-01-05 — Discussion with Charles Calomiris\nTreatise on Money by Joseph Schumpeter (1970/2014)\n2026-01-12 — Discussion Session 1 (Ch 1–3)\n2026-01-27 — Discussion Session 2 (Ch 4–7)\n2026-02-10 — Discussion Session 3 (Ch 8–10)\n2026-02-24 — Discussion Session 4 (Ch 11–12)\nBetween Payments and Credit: An Introduction to the IOU Economy by George Pantelopoulos (2025)\n2026-03-10 — Discussion Session 1 (Ch 1–5)\n2026-03-24 — Discussion Session 2 (Ch 6–10)\n2026-04-07 — Discussion Session 3 (Ch 11–13)\n2026-04-14 — Discussion with George Pantelopoulos\nAgainst Money by J. W. Mason and Arjun Jayadev (2026)\n2026-05-05 — Discussion Session 1 (ch 1–4)\n2026-05-12 — Discussion Session 2 (ch 5–7)\n2026-06-12 — Discussion with J.W. Mason\nOur Money: Monetary Policy as if Democracy Matters by Leah Downey (2025)\n2026-06-02 — Discussion Session 1 (Ch 1–3)\n2026-06-16 — Discussion Session 2 (Ch 4–8)\nThe History of Money: A Story of Humanity by David McWilliams (2024)\n2026-06-23 — Discussion Session 1 (Parts 1 & 2)\n2026-07-07 — Discussion Session 2 (Parts 3–5)\n\n\nOff-Week Sessions\n\n2021-05-19 BIS Working Paper: Breaking free of the triple coincidence in international finance (2015)\n2021-07-07 Global Domain of the Dollar: 8 Questions by Robert McCauley Author Discussion\n2021-07-28 BIS and Bank of England reports on Central Bank Digital Currencies\n2022-09-28 The Crypto Banking System by Sébastien Derivaux (2022) Author Discussion\n2023-04-05 Discussion of Silicon Valley Bank\n2023-04-19 Institutional Cash Pools by Zoltan Pozsar (2011)\n2023-05-03 BIS Bulletin #73: Stablecoins vs. Tokenized Deposits (May 3\, 2023)\n2023-07-05 The Credit–Money Hierarchy: a Republican \, Egalitarian Appraisal by Aaron James (2023)\n2023-07-26 Public Purpose Finance: The Government’s Role as Lender by Nadav Orian Peer (2020) Author Discussion 2023-10-24 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 1\n2023-10-31 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 2\n2023-11-14 ICMA Repo FAQ by Richard Comotto (2013/2019)\n2023-11-28 Basis Trades and Treasury Market Illiquidity by Daniel Barth & Jay Kahn (2020)\n2024-01-23 Capital flows and the current account by Borio and Disyatat (2015)\n2024-02-13 The dual currency system of Renaissance Europe by Luca Fantacci (2008)\n2024-02-27 BIS: Buy now\, pay later: a cross-country analysis by Cornelli et al. (2023)\n2024-03-12 The non-use of money in the Middle Ages by Bell\, Brooks\, and Moore (2017)\n2024-04-09 The Central Role of Credit Crunches in Recent Financial History by Albert M. Wojnilower (1980)\n2024-04-16 Measuring Equilibrium in the Balance of Payments by Charles P. Kindleberger (1969)\n2024-04-30 The Rise and Risks of Private Credit — GFSR (April\, 2024)\n2024-06-04 BIS Working Paper No 1100: Getting up from the floor by Claudio Borio (May\, 2023)\n2024-06-11 The Offshore Dollar and US Policy by Robert McCauley (May\, 2024)\n2024-07-09 The (impossible) repo trinity: the political economy of repo markets by Daniela Gabor (2016)\n2024-08-07 A Safe Haven for Hidden Risks (May 30\, 2024) and Rate Transformation (November 4\, 2023) by Elham Saeidinezhad\n2024-08-20 The Collateral Supply Effect on Central Bank Policy by Carolyn Sissoko (2020)\n2024-09-10 Monetary Policy Implications of Market Maker of Last Resort Operations by Anil K Kashyap (August 23\, 2024)\n2024-11-05 BIS Bulletin No 90: The market turbulence and carry trade unwind of August 2024 (August 27\, 2024)\n2024-11-19 Yen Carry Trade and the Subprime Crisis by Masazumi Hattori and Hyun Song Shin (2009)\n2024-12-03 After the Allocation: What Role for the Special Drawing Rights System? by Pforr\, Pape\, and Murau (2022)\n2025-01-14 Where Profits Come From by the Levy Forecasting Center by Levy\, Farnham\, & Rajan (2008/1997)\n2025-01-28 The Broad Consequences of Narrow Banking by Matheus R. Grasseli and Alexander Lipton (2019)\n2025-02-11 Failing Banks by Sergio Correia\, Stephen Luck\, and Emil Verner (2024)\n2025-02-18 Odd Lots — The Hidden History of Eurodollars by Lev Menand and Joshua Younger (January 2025)\n2025-03-04 Of Last Resort: Evaluating the Treasury-Equity Model of Federal Reserve Emergency Lending by Steven Kelly (2024)\n2025-03-18 Commercial Banking and Capital Formation I–IV by Harold Moulton (1918)\n2025-04-01 Climate Alignment For Banks: The Stories That Numbers Tell by Nadav Orian Peer (2025) Author Discussion\n2025-04-15 Shadow Banking: Why Modern Money Markets are Less Stable Than 19th c. Money Markets But Shouldn’t Be Stabilized by a ‘Dealer of Last Resort’ by Carolyn Sissoko (2014)\n2025-04-29 Treasury Market and the Basis Trade (Adrian et al. 2025; Kashyap et al. 2025)\n2025-06-10 Structural Changes in the Global Financial System lecture by Hyun Song Shin (May 19\, 2025)\n2025-06-24 International Regimes\, Transactions\, and Change: Embedded Liberalism in the Postwar Economic Order by John Gerard Ruggie (1982)\n2025-07-15 BIS Annual Report Chapter: Financial conditions in a changing global financial system (2025)\n2025-07-22 Banks Are Intermediaries of Loanable Funds by George Selgin (2024)\n2025-07-29 Theorising non-bank financial intermediation by Jo Michell (2024)\n2025-08-05 Banks are different: why bank-based versus market-based lending is a false dichotomy by Carolyn Sissoko (2024)\n2025-09-08 Did France Cause the Great Depression? by Douglas A. Irwin (2010)\n2025-09-22 Rethinking Monetary Sovereignty: The Global Credit Money System and the State by Murau and van’t Klooster (2023)\n2025-10-06 Rethinking currency internationalisation: offshore money creation and the EU’s monetary governance by Murau and van’t Klooster (2025)\n2025-10-27 BIS Bulletin No 114: “Financial channel implications of a weaker dollar for emerging market economies” by Juselius\, Wooldridge and Xia (October 13\, 2025)\n2025-11-24 Bubble or Nothing: Data Center Project Finance by Advait Arun (November 12\, 2025)\n2025-12-08 Discussion of Debate over Whether Money Multiplier Requires Cash Lending\n2026-01-20 Gresham’s Law by Charles P. Kindleberger (1989)\n2026-02-03 The Law of One Price by Charles P. Kindleberger (1989)\n2026-02-17 Bank Runs With and Without Bank Failures by Correia\, Luck\, and Verner (2026)\n2026-03-03 Monetary Experience and the Theory of Money by John Hicks (1977)\n2026-03-31 What Is Money (1913) and The Credit Theory of Money (1914) by A. Mitchell-Innes\n2026-04-21 Covered interest parity lost: understanding the cross-currency basis by Borio et al. (2016)\n2026-04-28 Decoupling Dollar and Treasury Privilege by Du\, Keerati\, and Schreger (2025)\n2026-06-30 FEDS Note: Decomposing Hedge Funds’ U.S. Treasury Exposures by Phillip J. Monin (June 22\, 2026)\n2026-07-14 The Chicago Plan Revisited by Benes and Kumhof (2012)
URL:https://heske.wisdmlabs.net/event/money-view-reading-group/2026-09-29/
CATEGORIES:A series of zooms
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SUMMARY:XIX Jornadas de Economía Crítica y VIII Jornadas de Economía Feminista
DESCRIPTION:Las XIX Jornadas de Economía Crítica (JEC) y las VIII Jornadas de Economía Feminista (JEF) constituyen un evento académico integrado\, organizado por la Sociedad de Economía Crítica (SEC)\, una red conformada por docentes\, investigadores/as\, graduados/as y estudiantes de Argentina y Uruguay. El objetivo general es promover y consolidar una perspectiva plural en las ciencias económicas\, fomentando el diálogo interdisciplinario frente a las problemáticas socioeconómicas contemporáneas y fortaleciendo el enfoque de género en la disciplina. \nDesde hace más de 15 años\, las JEC se han consolidado como un espacio fundamental para el desarrollo de las ciencias económicas\, fomentando la reflexión crítica sobre los enfoques dominantes de la disciplina. Asimismo\, con la incorporación de las JEF en 2019\, el evento ha priorizado la integración de la perspectiva de género en la investigación económica. Cada año\, el encuentro propone a los y las participantes asistir a conferencias y mesas de debate sobre temas económicos de coyuntura\, construir conocimiento novedoso y crítico a partir de la presentación de trabajos\, analizar los problemas socioeconómicos contemporáneos desde enfoques teóricos alternativos a la economía ortodoxa.  \nTemas que se abordarán: El evento promoverá una diversidad de miradas sobre problemáticas socioeconómicas actuales y discusiones teóricas tanto de la disciplina económica como de otras ciencias sociales. Entre los principales ejes de debate se incluyen: \n\nEconomía feminista\, organización social del cuidado y diseño de políticas públicas.\nMercados laborales\, desigualdad y transformaciones en la división internacional del trabajo.\nTransición ecológica\, políticas industriales y modelos de desarrollo en América Latina.\nDesarrollo periférico\, financiarización y el rol de las plataformas digitales.\nHistoria del pensamiento económico y epistemología en las ciencias sociales.\n\n¿Quiénes están involucrados? El evento reúne a una amplia comunidad académica y social. Participarán investigadores/as\, docentes y estudiantes de diversos países. Además\, las jornadas contarán con la presencia de destacados/as conferencistas invitados/as\, tanto del ámbito nacional como del exterior\, especializados/as en economía política\, economía feminista y desarrollo crítico. \nEl evento se desarrollará de forma presencial del 1 al 3 de octubre de 2026 en la  Universidad Nacional de Rosario (UNR). Quienes asistan podrán participar en tres formatos principales: \n\nConferencias centrales: Exposiciones magistrales a cargo de invitados/as especiales\, seguidas de espacios de interacción.\nSimposios y mesas de trabajo: Espacios en simultáneo para la presentación de ponencias abocadas a debatir temáticas especializadas.\nTalleres: Espacios con una lógica participativa donde se plantearán consignas para promover el intercambio y el debate entre los/as asistentes.\n\nSerá\, además\, un punto de encuentro fundamental para promover la articulación\, las alianzas y la solidaridad entre jóvenes investigadores/as\, movimientos feministas y distintos grupos regionales. \nEn su última edición presencial (2025)\, realizada en la Universidad Nacional del Sur\, el evento evidenció su consolidación regional al contar con 200 participantes registrados de Argentina y países como Brasil\, Chile\, Colombia\, México y Uruguay\, entre otros. En dicha ocasión\, la estructura de trabajo permitió el desarrollo de 3 paneles centrales\, la presentación de más de 100 ponencias originales organizadas en 25 mesas temáticas\, complementadas con 6 espacios de talleres y conversatorios
URL:https://heske.wisdmlabs.net/event/xix-jornadas-de-economia-critica-y-viii-jornadas-de-economia-feminista/
LOCATION:Facultad de Ciencias Económicas y Estadística – Universidad Nacional de Rosario (UNR)\, Blvd. Oroño 1261\, Rosario\, Santa Fe\, S2000DSM\, Argentina
CATEGORIES:An in-person event
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SUMMARY:Summer School: Rethinking Development in Latin America III
DESCRIPTION:APPLY HERE OR CLICK THE BUTTOM “APPLY NOW” : https://fs8.formsite.com/CNZLjX/ma2ywbxrov/index \nSummer School: Rethinking Development in Latin America III is an intensive three-week summer school (October 5 to October 23\, 2026) devoted to critically reassessing development strategies in Latin America from a progressive\, heterodox\, and interdisciplinary perspective. The school is grounded in the Latin American structuralist tradition\, while engaging contemporary debates on macroeconomics\, inequality\, industrial policy\, democracy\, and environmental sustainability. The program will feature the participation of globally recognized scholars and leading voices in development debates\, including keynote contributions by internationally renowned academics. \nThe motivation of the school stems from both an intellectual conviction and a political urgency. Latin American development continues to be shaped by persistent technological\, territorial\, and distributive gaps that cannot be overcome through market forces alone. At the same time\, the limits and tensions of recent progressive government experiences call for an updated development agenda—one that combines analytical rigor\, empirical evidence\, and critical self-reflection to confront external constraints\, productivity challenges\, social inequality\, and ecological transitions. \nBuilding on two key antecedents: the international seminar “Rethinking Development in Latin America and the Caribbean from Mexico” (2024) and the first edition of the Summer School held in 2025. The 2026 edition will take place in Buenos Aires\, hosted by the Universidad Nacional de San Martín (UNSAM). The school is an in-person only program. The program will be structured around thematic axes including economic theory and macro-trends; growth\, macroeconomics\, and structural change; fiscal policy and tax justice; innovation\, industrial policy\, and international trade; environment and development; democracy and development; and the history of Latin American economic thought. \nAcademic activities will combine lectures and conference-debates by senior scholars and policymakers\, interactive classes\, applied workshops (including AI and machine learning tools for research\, and energy and sustainability indicators)\, and a field visit to observe territorial scientific and technological capabilities. The school deliberately promotes dialogue across disciplines and sectors\, bringing together economists\, social scientists\, policymakers\, public officials\, labor representatives\, business actors\, and civil society organizations. \nA strategic objective of the school is to function as a laboratory for 21st-century development policy in Latin America: training young researchers and technical cadres capable of connecting theory\, data\, and real-world policy challenges; incubating research projects and policy notes oriented toward action; and fostering an interdisciplinary and intergenerational community committed to rethinking development from the region. \nHow to Apply\nApplications to the Summer School: Rethinking Development in Latin America III will be open to graduate students (Master’s and PhD)\, early-career researchers\, and practitioners from economics and related social sciences\, with a strong interest in development\, political economy\, and public policy in Latin America. \nThe program will be conducted in Spanish and English. Applicants are expected to have working proficiency in both languages\, as lectures\, classes\, and discussions will take place in either language throughout the program. \nInterested applicants will be required to submit an online application including: \n\n\na letter of reference from an academic supervisor or institutional mentor (such as a thesis advisor\, fellowship supervisor\, or research director)\, \n\n\na brief CV\, \n\n\nand a short description of current or planned research projects. \n\n\nApplications will be evaluated on the basis of academic background\, relevance of research interests to the themes of the school\, and the potential contribution to a plural and interdisciplinary learning environment. The selection process aims to ensure diversity in terms of disciplinary backgrounds\, countries\, and institutional affiliations. \nSelected participants from outside the Buenos Aires metropolitan area will receive accommodation coverage and partial financial support for travel expenses\, subject to the availability of funds. \nExtended Deadline for Applications\nWe are pleased to announce that the application deadline for the Summer School: Rethinking Development in Latin America III has been extended to May 30\, 2026. We encourage graduate students and early-career researchers with an interest in development economics\, political economy\, and public policy in Latin America to take advantage of this additional time to submit their applications. Selected participants from outside the Buenos Aires metropolitan area will receive financial support to cover accommodation and travel expenses. \nThe program is structured around three thematic weeks taking place from October 5 to 23\, 2026\, in Buenos Aires. The first week explores geopolitics and the history of development\, covering comparative economic history\, the evolution of structuralist thought\, and data tools for academic research. The second week addresses macroeconomics\, growth\, distribution\, and sustainability\, examining the tensions between stabilization and structural transformation\, fiscal policy\, and green political economy. The third week focuses on reindustrialization\, financing\, and digitalization\, with sessions on comparative industrial policy experiences across Argentina\, Brazil\, Chile\, and Mexico\, as well as the role of artificial intelligence in development strategies\, including a special session hosted at the offices of CAF – Development Bank of Latin America and the Caribbean. The program also includes an industrial immersion day in Mar del Plata and a closing policy laboratory session. \nThe school will bring together a distinguished and diverse faculty\, including Mario Cimoli (Scuola Superiore Sant’Anna)\, Matías Kulfas (UNSAM)\, Christian Asinelli (CAF)\, Andrea Roventini\, Martín Rapetti (UBA/CONICET)\, Gabriel Porcile (Universidad de la República)\, Nelson Barbosa (former Minister of Finance\, Brazil)\, Wilson Peres\, Pablo Gerchunoff\, Joao Carlos Ferraz\, Marcelo Rougier\, Daniel Schteingart\, Valentina Arza\, Pablo Bello\, and many others. The school is jointly organized by YSI-INET\, CAF\, Open Society Foundations\, the Universidad Nacional de San Martín (Argentina)\, and the Universidad Autónoma Metropolitana (Mexico).
URL:https://heske.wisdmlabs.net/event/summer-school-rethinking-development-in-latin-america-iii/
LOCATION:UNSAM\, Avenida 25 de Mayo y Francia\, B1650 San Martín\, San Martín — Buenos Aires Province\, Buenos Aires\, Argentina
CATEGORIES:An in-person event
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SUMMARY:Money View Reading Group
DESCRIPTION:The Money View Reading Group reads and discusses writings on money\, banking\, and finance. We are a self-directed group. Anyone interested in money and banking can read the readings\, join us for discussions\, or suggest future readings.\nWe meet for 90 minutes via Zoom on Tuesdays at 2 pm Eastern Time US (New York). \n\nCurrent Book\n\n\nAfter the Accord: A History of Federal Reserve Open Market Operations\, the US Government Securities Market\, and Treasury Debt Management from 1951 to 1979\n\nby Kenneth D. Garbade (2021) \nhttps://www.amazon.com/dp/1108839894/ \nFrom the description \nIn this book Garbade\, a former analyst at a primary dealer and researcher at the Federal Reserve Bank of New York\, traces the evolution of open market operations\, Treasury debt management\, and the microstructure of the US government securities markets following the 1951 Treasury-Federal Reserve. This volume examines how these operations evolved\, responding both to external forces and to one another. Utilising a vast scope of primary material\, the work provides insight into how officials fashioned the instruments\, facilities\, and procedures needed to advance their policy objectives in light of their novel freedoms and responsibilities. \nThis is a big book. As we did with Braudel’s The Wheel’s of Commerce last summer\, we are discussing this book in five back-to-back weekly sessions. \n\nUpcoming Sessions\n\n\n2026-07-21 – 2:00pm EDT\n\nDuring the off week\, we discuss Arthur C. Pigou’s Famous 1917 paper\, “The Value of Money.” \nhttps://www.jstor.org/stable/1885078?seq=1 \n\n2026-07-28 — 2:00pm EDT\n\nIn our first of five sessions\, we discuss Parts 1 and 2 of After the Accord by Kenneth Garbade. \n\nChapter 1: Introduction\n\nOpen Market Operations After the Accord\n\nBills Preferably\nRepurchase Agreements\nOpen Market Operations in Coupon-Bearing Debt\n\n\nTreasury Debt Management After the Accord\n\n\nPart I: The System and the Market in the 1940s\n\nChapter 2: The Government Securities Market\n\nWartime Interest Rate Ceilings\nFrom the End of the War to the End of 1949\nBill Auctions\nCash Subscription Offerings\nExchange Offerings\nAn Example\nThe Secondary Market\nThe Postwar Secondary Market\nThe Role of Dealers in Primary Market Offerings\n\n\nChapter 3: Reserves\, Reserve Requirements\, and Reserves Management\n\nReserve Requirements\n\nDemand Deposits\n\n\nReserves in Aggregate\nThe Inter-Bank Market for Federal Funds\nReserves Management\nAppendix: Treasury Cash Management\nAppendix: Identifying the Sources and Uses of Reserves\n\n\nChapter 4: The Institutional Framework of Open Market Operations\n\nThe Recognized Dealer Program\n\nFormalization of the Recognized Dealer Program\n\n\nAdvent of the Qualified Dealer Program\n\nRevising the Institutional Framework of Open Market Operations\nImplementing the Revised Framework\nThe Qualified Dealer Program at the End of the 1940s\n\n\nAppendix: Orderly Markets\n\nA Reexamination\n\n\n\n\n\n\nPart II: The Accord and Its Aftermath\n\nChapter 5: The Accord\n\nRun-Up to the Accord\nThe Accord\n\nThe Nomarketable Bond Offering\n\n\nAfter the Accord\n\n\nChapter 6: Taking Stock\n\nThe New York Reserve Bank Study\n\nThe Existing Framework\nProspects for Fundamental Change\n\nAn Exchange Market\nDirect Trading by Federal Reserve Banks\nReliance on Nonmarketable Long-Term Debt\n\n\nProspects for More Modest Changes\n\nExpanding the Number of Qualified Dealers\n\n\nRelations between the System and the Treasury\nSumming Up\n\n\nThe Ad Hoc Subcommittee Study\n\nSystem Intervention\n\nBills Preferably\nTreasury Financings\n\n\nDealer Qualification Requirements\nMarket Intelligence\n\n\n\n\nChapter 7: New Directions\n\nMarket Intervention\nDealer Relations\n\nMarket Intelligence\n\n\nSubsequent Actions\n\nThe End of the Qualified Dealer Program\nPublicizing the New Restrictions on Market Intervention\n\n\n\n\nChapter 8: Challenging the New Restrictions\n\nThe April 1953 Bond Offering\nThe Mid-May Executive Committee Meetings\n\nThe May 6 Meeting\nThe May 13 Meeting\nSystem Open Market Account Activity and Reserve Availability in May\n\n\nBreakdown and Intervention\nRevisiting the Restrictions on Intervention\n\nReimposition\n\n\nThe Controversy Becomes Public\n\n\nChapter 9: An Additional Limitation on the Conduct of Open Market Operations\n\nA Swap Authorization\nPushback\nRound Two\n\n\n\n\n\n\n2026-08-04 — 2:00pm EDT\n\nIn our second of five sessions\, we discuss Part 3 of After the Accord by Kenneth Garbade. \n\nPart III: The New Regime\n\nChapter 10: Monetary Policy in 1954\n\nMonitoring Economic Activity\nMonetary Policy\n\nThe Directives\nThe Minutes\n\n\nCaveats\n\n\nChapter 11: Policy Instruments for Reserves Management\n\nOutright Purchases and Sales of Treasury Bills\nRepurchase Agreements on Short-Term Treasury Securities\n\nRepurchase Agreements before the Accord\nPostwar Reinstatement\nLinking the Floor on Repo Rates to the Treasury Bill Rate Instead of the Discount Rate\nConsequences of the Accord\nRepurchase Agreements in 1954\nRobertson’s Resistance to System Repurchase Agreements\nThe Opening Round\nRobertson’s Critique\nA Proposal\nReconciliation\nSubsequent Events\n\n\n\n\nChapter 12: Monetary Policy in 1955\n\nFOMC Directives\nMoney Market Indicators\nTreasury Offerings of Coupon-Bearing Debt\n\nAttrition on Exchange Offerings\nMaintaining an Even Keel\n\n\nDefensive Operations\n\nWhen Reserves Needed to Be Drained\nTwo Work-Arounds\n\n\n\n\nChapter 13: Pragmatism in the Accommodation of Treasury Offerings\n\nRepurchase Agreements on Rights\nIntervention\nIntervention by Another Name\n\n\nChapter 14: 1956 and 1957\n\nDefensive Operations\n\nCurrency\nFloat\nTreasury Balances at Federal Reserve Banks\nForecasting Errors\n\n\nAccommodating Treasury Offerings\n\nThe May 1957 Refunding\nSubsequent Offerings in 1957\n\n\nThe Continuing Importance of Repurchase Agreements\n\n\n\n\n\n\n2026-08-11 — 2:00pm EDT\n\nIn our third of five sessions\, we discuss Parts 4 and 5 of After the Accord by Kenneth Garbade. \n\nPart IV: Summer 1958 and Its Consequences\n\nChapter 15: The Summer 1958 Treasury Financings\n\nAn Overview of 1958\nRun-Up to the June Financing\nThe June Financing\n\nResults of the Financing\n\n\nThe Aftermath of the June Financing\n\nThe Treasury Enters the Market\nTrading on July 8\nTreasury Reveals Its Purchases\n\n\nIraq and Lebanon\nThe July Refunding\n\nFriday\, July 18\nThe Subscription Period (Monday\, July 21 to Wednesday\, July 23)\nDenouement\n\n\nAftermath to the July Refunding\n\n\nChapter 16: Innovations in Treasury Debt Management\n\nA Need for Change\n\nTreasury Issuance of Coupon-Bearing Debt from 1953 to 1958\nGaines’s Critique\nTreasury Bills – A Bright Spot\nFriedman’s Recommendations\n\n\nTreasury’s Innovations\n\nIssuing and Redeeming Coupon-Bearing Debt on a Regular Schedule\nTwenty-Six-Week Bills\nCash Refundings\nThe Problem of SOMA Reinvestments\nAdvance Refundings\nWhy the Treasury Declined to Extend the Auction Process to Coupon-Bearing Securities\n\n\n\n\nChapter 17: The Treasury-Federal Reserve Study of the Government Securities Market\n\nMarket Statistics\n\nAdvent of the Reporting Dealer Program\n\nInitial Discussions\nA Joint Staff Proposal\nImplementation\n\n\n\n\nDealer Finance\nProspects for a Dealer Association\n\n\n\n\nPart V: The End of Bills Preferably\n\nChapter 18: The 1958-1960 Gold Drain\n\nGold in the International Payments System\nThe London Gold Market\nThe Place of Gold in FOMC Deliberations\nThe Break-out of London Gold Prices\nThe Place of Gold in FOMC Deliberations After the Break-out\nContemplating the Future\n\n\nChapter 19: Operation Twist\n\nHow Economists Viewed the Term Structure of Interest Rates\nThe February 7 Executive Session of the Federal Open Market Committee\nConducting Open Market Operations in Longer-Term Securities\nWhat\, Exactly\, Were the Objectives of the New Program?\nDisengagement?\nThe Scale of Open Market Operations in Longer-Term Securities\nAbandoning the 1953 Operating Principles\nOperation Twist After 1961\n\nNew Policy Instruments\nNew Empirical Evidence\n\n\nThe End of $35 Gold\n\n\n\n\n\n\n2026-08-18 — 2:00pm EDT\n\nIn our fourth of five sessions\, we discuss Parts 6 and 7 of After the Accord by Kenneth Garbade. \n\nPart VI: The 1960s\n\nChapter 20: Treasury Debt Management in the 1960s\n\nSecular Variation of Marketable Debt\nTreasury Bills\n\nRegular Bills\nBill Strips\nTax Anticipation Bills\n\n\nCertificates\, Notes\, and Bonds\n\nMid-Quarter Refundings\nStand-Alone Offerings for New Money\nAdvance Refundings\n\nAdvance Refundings after Mid-1965\n\n\n\n\nThe Two Worlds of Treasury Finance\n\nAn Experiment in Auctioning Bonds\n\n\n\n\nChapter 21: Monetary Policy in the 1960s\n\n1961 to 1965\n1966\n\nThe August Money Panic\n\n\n\n\nChapter 22: Repurchase Agreements in the 1960s\n\nSystem Access to Repo Collateral\n\nRelaxing the Two-Year Maturity Limit\nEliminating the Two-Year Maturity Limit and Permitting Back-to-Back Repos\nSystem Repos on Agency Collateral\n\n\nMatched Sale-Purchase Agreements\nAn Unsuccessful Effort to Introduce More Flexible Repo Pricing\n\n\n\n\nPart VII: Updating Market Infrastructures: The Joint Study\n\nChapter 23: The Association of Primary Dealers\n\nArrivals and Departures\nFederal Reserve and Treasury Thinking About a Dealer Association\nPrecipitating Events\nFormation of the Association of Primary Dealers\n\n\nChapter 24: Dealer Finance\n\nDealer Finance and the Role of Money Market Banks as Residual Lenders\nRecommendations of the Joint Study Steering Committee\nResponse of the Federal Open Market Committee\n\n\nChapter 25: The Government Securities Clearing Arrangement\n\nSettling Transactions in Treasury Securities Before 1965\n\nIntracity Settlements\nCPD Settlement\n\n\nOrigins of the Clearing Arrangement\nThe Pilot Program\nIntracity Transfers\nBalancing the Demands of Competing Settlement Systems\nRemarks\n\n\nChapter 26: Securities Lending\n\nThe Impetus for a Federal Reserve Securities Lending Program\nThe Joint Study Proposal\n\nThe Staff Study\nDiscussion by the Steering Committee\nThe FOMC Response\n\n\nThe 1969 Fails Crisis\nThe FOMC Revisits Securities Lending\nWhether to Lend Against Short Sales\n\n\nChapter 27: The Book-Entry System\, Part I\n\nOrigins of the Book-Entry System\nIssues in Creating a Book-Entry System\nThe First Implementation\nThe Second Implementation\nWhat Remained to be Done\n\n\n\n\n\n\n2026-08-25 — 2:00pm EDT\n\nIn our last of five sessions\, we discuss Parts 8 and 9 of After the Accord by Kenneth Garbade. \n\nPart VIII: The 1970s\n\nChapter 28: Treasury Debt Management in the 1970s\n\nMarketable Treasury Debt in the 1970s\n\nRegular Bills\nThirteen- and Twenty-Six-Week Bills\nNine-Month Bills and One-Year Bills\nBill Strips\nIrregular Bills\nNotes and Bonds\nAverage Maturity\n\n\nThe Introduction of Treasury Note and Bond Auctions\n\nThe May 1970 Refunding\nThe First Auction\nSubsequent Auction Offerings of Notes and Bonds\nConsequences of Bond Auctions for Advance Refundings\nFine-Tuning the Auction Process\n\nA Failed Auction and the Advent of Yield Auctions\nThe End of Single-Price Auctions\n\n\nA Last Harrah for Fixed-Price Offerings\n\n\nThe Advent of Regular and Predictable Note and Bond Offerings\n\nThe Introduction of Two-Year Cycle Notes\nExtending Regular and Predictable Issuance to Intermediate-Term Notes\nMid-Quarter Refundings and Fifteen-Year Bonds\n\n\nA Recapitulation of Treasury Debt Management Innovations in the 1970s\n\n\nChapter 29: Monetary Policy in the 1970s\n\n1970-1971\n1972-1973\n1974-1979\nFluctuations in Autonomous Factors\n\nTreasury Deposits at Federal Reserve Banks\nFloat\nBank Borrowing at the Discount Window\n\n\nThe End (Sort of) of Even Keel\n\n\nChapter 30: Open Market Operations in the 1970s\n\nThe Operating Environment\n\nTreasury Cash Management\n\n\nThe Continuing Problem with Liquidity\n\nCompetitive Repo Pricing\nSystem Repos with Bank Dealers\nAnother Way Around the Barn\n\n\nOutright Transactions in Federal Agency Debt\n\nReconsideration\nSubsequent Events\n\n\n\n\n\n\nPart IX: Infrastructure in the 1970s\n\nChapter 31: The Secondary Market in the 1970s\n\nPrimary Dealers\nThe Interdealer Broker Market\n\nManaging the Risks of Blind Brokerage\nSeparating Reporting Dealer Status from Primary Dealer Status\n\n\nThe Rise of Screen Brokers\n\n\nChapter 32: The Book-Entry System\, Part II\n\nThe Insurance Crisis\nExpansion of the Book-Entry System\nConfronting the Limits of Technology\nThe End of the GSCA and the End of Definitive Securities\n\n\nChapter 33: Coda\n\nInitial Actions\n\nThe 1953 Operating Principles\nEven Keeling\n\n\nA Metaphor for Change\nTreasury Debt Management\n\nAuctions of Coupon-Bearing Debt\n\n\nOpen Market Operations\nFailed and Supplanted Initiatives\nInter-Agency Accommodations\n\nOperation Twist\nTreasury Cash Management\nCash Management Bills\n\n\nMarket Infrastructure\n\nGovernment Securities Clearing Arrangement\nBook-Entry II\nSecurities Lending\nThe Association of Primary Dealers in US Government Securities\n\n\nRecapitulation\n\n\nChapter 34: After 1979\n\nTreasury Debt Management\n\nNew Securities\nAuction Innovations\n\n\nMarket Infrastructure\n\nDrysdale\nESM and Bevill\, Bresler\nThe Government Securities Clearing Corporation\nAccess to the Interdealer Broker Market\n\n\n\n\n\n\n\n\nFuture Suggested Readings\n\n\nHow a Ledger Became a Central Bank: A Monetary History of the Bank of Amsterdam by Quinn and Roberds (2023)\nThe Almighty Dollar: 500 Years of the World’s Most Powerful Money by Brendan Greeley (2026)\nWell Worth Saving: How the New Deal Safeguarded Home Ownership by Fishback\, Rose\, and Snowden (2013)\nSlapped by the Invisible Hand: The Panic of 2007 by Gary Gorton (2010)\nThe House of Morgan by Ron Chernow (1990)\nA Study of Money Flows in the United States by Morris Copeland (1952)\nA History of the Greenbacks by Wesley Clair Mitchell (1903)\nCalming the Storms: The Carry Trade\, the Banking School and British Financial Crises Since 1825 by Charles Read (2023)\nBenjamin Strong: Central Banker by Lester V. Chandler (1958)\nAn Engine\, Not a Camera: How Financial Models Shape Markets by Donald MacKenzie (2007)\nCurrency and Credit (4e) by Ralph Hawtrey (1950)\nThe Golden Age of the Quantity Theory by David Laidler (1991)\nCapitalizing on Crisis: The Political Origins of the Rise of Finance by Greta Krippner (2011)\nThe Federal Reserve System by Paul Warburg (1930)\nCentral Bank Capitalism: Monetary Policy in Times of Crisis by Joscha Wullweber (2024)\nIntroduction to Central Banking by Ulrich Bindseil and Alessio Fota (2021)\nThe Chairman: John J. McCloy & The Making of the American Establishment by Kai Bird (1992)\nManias\, Panics\, and Crashes (8e) by Robert McCauley (2023)\nThe Bailout State: Why Governments Rescue Banks\, Not People by Martijn Konings (2025)\n\n\nPast Readings with Discussion Recordings\n\n\nMinsky by Daniel H. Neilson (2019)\n2021-03-24 — Discussion Session 1\n2021-03-31 — Discussion Session 2\n2021-04-07 — Discussion with Daniel Neilson\nThe Art of Central Banking (Chapter IV) by Ralph Hawtrey (1933)\n2021-04-21 — Discussion Session 1\n2021-05-05 — Discussion Session 2\n2021-05-26 — Discussion with David Glasner\nMaking Money: Coin\, Currency\, and the Coming of Capitalism by Christine Desan (2014)\n2021-06-02 — Discussion Session 1\n2021-06-16 — Discussion Session 2\n2021-06-30 — Discussion Session 3\n2021-07-14 — Discussion with Christine Desan\nMoney in a Theory of Finance by John G. Gurley\, Edward S. Shaw (1960)\n2021-07-21 — Discussion Session 1\n2021-08-04 — Discussion Session 2\n2021-08-18 — Discussion Session 3\nThe World in Depression\, 1929-1939 by Charles P. Kindleberger (1973)\n2021-09-01 — Discussion Session 1\n2021-09-15 — Discussion Session 2\n2021-09-29 — Discussion Session 3\nThe Rise of Carry by Jamie Lee et al (2019)\n2021-10-13 — Discussion Session 1\n2021-10-27 — Discussion Session 2\nThe Money Interest and the Public Interest by Perry Mehrling (1998)\n2021-11-10 — Discussion Session 1 | Allyn Young\n2021-11-24 — Discussion Session 2 | Alvin Hanson\n2021-12-08 — Discussion Session 3 | Edward Shaw\nControlling Credit by Eric Monnet (2018)\n2022-01-05 — Discussion Session 1\n2022-01-19 — Discussion Session 2\nThe Menace of Fiscal QE by George Selgin (2020)\n2022-02-02 — Discussion Session\nThe New Lombard Street by Perry Mehrling (2011)\n2022-02-23 — Discussion Session 1\n2022-03-09 — Discussion Session 2\n2022-03-23 — Discussion Session 3\nFighting Financial Crises: Learning from the Past by Gary Gorton\, Ellis Tallman (2021)\n2022-04-20 — Discussion Session 1\n2022-05-11 — Discussion Session 2\nMoney and empire: The international gold standard\, 1890-1914 by Marcello De Cecco (1974)\n2022-05-25 — Discussion Session 1\n2022-06-15 — Discussion Session 2\nCentral Bank Cooperation 1924-31 by Stephen Clarke (1967)\n2022-06-22 — Discussion Session 1\n2022-07-06 — Discussion Session 2\nThe Money Problem: Rethinking Financial Regulation by Morgan Ricks (2016)\n2022-07-27 — Discussion Session 1\n2022-08-10 — Discussion Session 2\n2022-08-17 — Discussion with Morgan Ricks\nThe Evolution of Central Banking: Theory and History by Stefano Ugolini (2017)\n2022-08-24 — Discussion Session 1\n2022-09-07 — Discussion Session 2\n2022-09-21 — Discussion Session 3\n2022-10-05 — Discussion with Stefano Ugolini\nA Financial History of Western Europe by Charles P. Kindleberger (1984\, 1993)\n2022-10-19 — Discussion Session 1 | Part 1: Money\n2022-11-02 — Discussion Session 2 | Part 2: Banking\n2022-11-16 — Discussion Session 3 | Part 3: Finance\n2023-01-11 — Discussion Session 4 | Part 4: The Interwar Period\n2023-01-18 — Discussion Session 5 | Part 5: After World War II\nMoney and Empire: Charles P. Kindleberger and the Dollar System by Perry Mehrling (2022)\n2022-11-30 — Discussion Session 1 | Part 1: Intellectual Formation\, 1910–1948\n2022-12-14 — Discussion Session 2 | Part 2: International Economist\, 1948–1976\n2022-12-21 — Discussion Session 3 | Part 3: Historical Economist\, 1976–2003\n2022-12-21 — Discussion #1 with Perry Mehrling\n2023-01-04 — Discussion #2 with Perry Mehrling\nBonds without Borders: A History of the Eurobond Market by Chris O’Malley (2015)\n2023-02-15 — Discussion Session 1\n2023-03-01 — Discussion Session 2\nMonetary Policy Operations and the Financial System by Ulrich Bindseil (2014)\n2023-03-15 — Discussion Session 1 (Ch 1-8)\n2023-03-29 — Discussion Session 2 (Ch 9-12)\n2023-04-12 — Discussion Session 3 (Ch 13-18)\nCapital Wars: The Rise of Global Liquidity by Michael J. Howell (2020)\n2023-04-26 — Discussion Session 1 (Ch 1-7)\n2023-05-10 — Discussion Session 2 (Ch 8-14)\nA Market Theory of Money by John Hicks (1989)\n2023-05-24 — Discussion Session 1 (Ch 1-7)\n2023-06-07 — Discussion Session 2 (Ch 8-15)\nThe Currency of Politics: The Political Theory of Money from Aristotle to Keynes by Stefan Eich (2022)\n2023-06-28 — Discussion Session 1 (Ch 1 & 2)\n2023-07-19 — Discussion Session 2 (Ch 3 & 4)\n2023-08-02 — Discussion Session 3 (Ch 5 & 6)\n2023-08-14 — Discussion with Stefan Eich\nFischer Black and the Revolutionary Idea of Finance by Perry Mehrling (2005)\n2023-08-22 — Discussion Session 1 (Ch 1–5)\n2023-09-05 — Discussion Session 2 (Ch 6–8)\n2023-09-19 — Discussion Session 3 (Ch 9–11)\n2023-09-26 — Discussion with Perry Mehrling\nThe Evolution of Central Banks by Charles Goodhart (1988)\n2023-10-03 — Discussion Session 1 (Ch 1–6)\n2023-10-17 — Discussion Session 2 (Ch 7–8\, Appendix)\nThe Repo Market: Shorts\, Shortages\, and Squeezes by Scott Skyrm (2023)\n2023-11-07 — Discussion Session 1 (pages 1–92)\n2023-11-21 — Discussion Session 2 (pages 93–186)\n2023-12-05 — Discussion Session 3 (pages 187–310) Part 1 — Part 2\n2023-12-12 — Discussion with Scott Skyrm From 39:20\nThe Volatility Machine: Emerging Economies and the Threat of Financial Collapse by Michael Pettis (2001)\n2023-12-19 — Discussion Session 1 (Ch 1–5)\n2024-01-02 — Discussion Session 2 (Ch 6–10)\n2024-01-09 — Discussion with Michael Pettis\nInternational Capital Movements by Charles P. Kindleberger (1987)\n2024-01-16 — Discussion Session 1 (Ch 1 & 2)\n2024-01-30 — Discussion Session 2 (Ch 3 & 4)\nA Political Theory of Money by Anush Kapadia (2024)\n2024-02-20 — Discussion Session 1 (Ch 1–4)\n2024-03-05 — Discussion Session 2 (Ch 5–7)\n2024-03-19 — Discussion Session 3 (Ch 8–12)\n2024-03-26 — Discussion with Anush Kapadia\nThe Rise of Central Banks: State Power in Financial Capitalism by Leon Wansleben (2023)\n2024-04-02 — Discussion Session 1 (Ch 1–3)\n2024-04-23 — Discussion Session 2 (Ch 4–6)\n2024-05-07 — Discussion with Leon Wansleben\nThe Money Illusion: Market Monetarism\, the Great Recession\, and the Future of Monetary Policy by Scott Sumner (2021)\n2024-05-14 — Discussion Session 1 (Parts 1 & 2)\n2024-05-28 — Discussion Session 2 (Parts 3 & 4)\n2024-06-18 — Discussion Session 3 (Parts 5 & 6)\n2024-06-25 — Discussion with Scott Sumner\nPrivate Money and Public Currencies: The Sixteenth Century Challenge: The Sixteenth Century Challenge by Boyer-Xambeu\, Deleplace\, and Gillard (1994)\n2024-07-02 — Discussion Session 1 (Ch 1–3)\n2024-07-16 — Discussion Session 2 (Ch 4 & 5)\n2024-07-30 — Discussion Session 3 (Ch 6\, 7 & Conclusion)\nThe Arena of International Finance by Charles A. Coombs (1976)\n2024-08-13 — Discussion Session 1 (Ch 1ー6)\n2024-08-27 — Discussion Session 2 (Ch 7–12)\nThe Bill on London: or The Finance of Trade by Bills of Exchange by Gillett Brothers (1952/1976)\n2024-09-17 — Discussion Session\nBirth of a Market: The U.S. Treasury Securities Market from the Great War to the Great Depression by Kenneth D. Garbade (2012)\n2024-10-01 — Discussion Session 1 (Ch 1–10)\n2024-10-15 — Discussion Session 2 (Ch 11–15)\n2024-10-29 — Discussion Session 3 (Ch 16–24)\nA Monetary and Fiscal History of the United States\, 1961–2021 by Alan S. Blinder (2022)\n2024-11-12 — Discussion Session 1 (Ch 1–7)\n2024-11-26 — Discussion Session 2 (Ch 8–13)\n2024-12-10 — Discussion Session 3 (Ch 14–19)\nBuilding a Ruin: The Cold War Politics of Soviet Economic Reform by Yakov Feygin (2024)\n2025-01-07 — Discussion Session 1 (Ch 1–3)\n2025-01-21 — Discussion Session 2 (Ch 4–6)\n2025-02-04 — Discussion Session 3 (Ch 7 & Afterword)\nA Crash Course on Crises: Macroeconomic Concepts for Run-Ups\, Collapses\, and Recoveries by Markus K. Brunnermeier and Ricardo Reis (2023)\n2025-02-25 — Discussion Session 1 (Parts 1 and 2)\n2025-03-11 — Discussion Session 2 (Parts 3 and 4)\nThe Empire of Value: A New Foundation for Economics by Andre Orlean (2014)\n2025-03-25 — Discussion Session 1 (Introduction and Part 1) Part 1 — Part 2\n2025-04-08 — Discussion Session 2 (Parts 2 and 3)\n2025-04-22 — Discussion Session 3 (Part 4 and Conclusion)\nThe Wheels of Commerce by Fernand Braudel (1979/1982)\n2025-05-06 — Discussion Session 1 (Chapter 1)\n2025-05-13 — Discussion Session 2 (Chapter 2)\n2025-05-20 — Discussion Session 3 (Chapter 3)\n2025-05-27 — Discussion Session 4 (Chapter 4)\n2025-06-03 — Discussion Session 5 (Chapter 5)\nBeyond Banks: Technology\, Regulation\, and the Future of Money by Dan Awrey (2024)\n2025-06-17 — Discussion Session 1 (Intro & Ch 1–3)\n2025-07-01 — Discussion Session 5 (Ch 4–7 & Conclusion)\n2025-07-08 — Discussion with Dan Awrey\nOur Dollar\, Your Problem: An Insider’s View of Seven Turbulent Decades of Global Finance by Kenneth Rogoff (2025)\n2025-08-19— Discussion Session 1 (Parts 1-3)\n2025-08-26 — Discussion Session 2 (Parts 4-6)\nCentral Banking Before 1800: A Rehabilitation by Ulrich Bindseil (2019)\n2025-09-01 — Discussion Session 1 (Ch 1&2)\n2025-09-15 — Discussion Session 2 (Ch 3–5)\n2025-09-29 — Discussion Session 3 (Ch 6&7)\n2025-10-13 — Discussion with Ulrich Bindseil\nThe Long Twentieth Century: Money\, Power and the Origins of Our Times by Giovanni Arrighi (2010)\n2025-10-20 — Discussion Session 1 (Ch 1&2)\n2025-11-03 — Discussion Session 2 (Ch 3)\n2025-11-10 — Discussion Session 3 (Ch 4)\nFragile by Design: The Political Origins of Banking Crises and Scarce Credit by Charles W. Calomiris and Stephen Haber (2014)\n2025-11-17 — Discussion Session 1 (Ch 1–5)\n2025-12-01 — Discussion Session 2 (Ch 6-9)\n2025-12-15 — Discussion Session 3 (Ch 10–15)\n2026-01-05 — Discussion with Charles Calomiris\nTreatise on Money by Joseph Schumpeter (1970/2014)\n2026-01-12 — Discussion Session 1 (Ch 1–3)\n2026-01-27 — Discussion Session 2 (Ch 4–7)\n2026-02-10 — Discussion Session 3 (Ch 8–10)\n2026-02-24 — Discussion Session 4 (Ch 11–12)\nBetween Payments and Credit: An Introduction to the IOU Economy by George Pantelopoulos (2025)\n2026-03-10 — Discussion Session 1 (Ch 1–5)\n2026-03-24 — Discussion Session 2 (Ch 6–10)\n2026-04-07 — Discussion Session 3 (Ch 11–13)\n2026-04-14 — Discussion with George Pantelopoulos\nAgainst Money by J. W. Mason and Arjun Jayadev (2026)\n2026-05-05 — Discussion Session 1 (ch 1–4)\n2026-05-12 — Discussion Session 2 (ch 5–7)\n2026-06-12 — Discussion with J.W. Mason\nOur Money: Monetary Policy as if Democracy Matters by Leah Downey (2025)\n2026-06-02 — Discussion Session 1 (Ch 1–3)\n2026-06-16 — Discussion Session 2 (Ch 4–8)\nThe History of Money: A Story of Humanity by David McWilliams (2024)\n2026-06-23 — Discussion Session 1 (Parts 1 & 2)\n2026-07-07 — Discussion Session 2 (Parts 3–5)\n\n\nOff-Week Sessions\n\n2021-05-19 BIS Working Paper: Breaking free of the triple coincidence in international finance (2015)\n2021-07-07 Global Domain of the Dollar: 8 Questions by Robert McCauley Author Discussion\n2021-07-28 BIS and Bank of England reports on Central Bank Digital Currencies\n2022-09-28 The Crypto Banking System by Sébastien Derivaux (2022) Author Discussion\n2023-04-05 Discussion of Silicon Valley Bank\n2023-04-19 Institutional Cash Pools by Zoltan Pozsar (2011)\n2023-05-03 BIS Bulletin #73: Stablecoins vs. Tokenized Deposits (May 3\, 2023)\n2023-07-05 The Credit–Money Hierarchy: a Republican \, Egalitarian Appraisal by Aaron James (2023)\n2023-07-26 Public Purpose Finance: The Government’s Role as Lender by Nadav Orian Peer (2020) Author Discussion 2023-10-24 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 1\n2023-10-31 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 2\n2023-11-14 ICMA Repo FAQ by Richard Comotto (2013/2019)\n2023-11-28 Basis Trades and Treasury Market Illiquidity by Daniel Barth & Jay Kahn (2020)\n2024-01-23 Capital flows and the current account by Borio and Disyatat (2015)\n2024-02-13 The dual currency system of Renaissance Europe by Luca Fantacci (2008)\n2024-02-27 BIS: Buy now\, pay later: a cross-country analysis by Cornelli et al. (2023)\n2024-03-12 The non-use of money in the Middle Ages by Bell\, Brooks\, and Moore (2017)\n2024-04-09 The Central Role of Credit Crunches in Recent Financial History by Albert M. Wojnilower (1980)\n2024-04-16 Measuring Equilibrium in the Balance of Payments by Charles P. Kindleberger (1969)\n2024-04-30 The Rise and Risks of Private Credit — GFSR (April\, 2024)\n2024-06-04 BIS Working Paper No 1100: Getting up from the floor by Claudio Borio (May\, 2023)\n2024-06-11 The Offshore Dollar and US Policy by Robert McCauley (May\, 2024)\n2024-07-09 The (impossible) repo trinity: the political economy of repo markets by Daniela Gabor (2016)\n2024-08-07 A Safe Haven for Hidden Risks (May 30\, 2024) and Rate Transformation (November 4\, 2023) by Elham Saeidinezhad\n2024-08-20 The Collateral Supply Effect on Central Bank Policy by Carolyn Sissoko (2020)\n2024-09-10 Monetary Policy Implications of Market Maker of Last Resort Operations by Anil K Kashyap (August 23\, 2024)\n2024-11-05 BIS Bulletin No 90: The market turbulence and carry trade unwind of August 2024 (August 27\, 2024)\n2024-11-19 Yen Carry Trade and the Subprime Crisis by Masazumi Hattori and Hyun Song Shin (2009)\n2024-12-03 After the Allocation: What Role for the Special Drawing Rights System? by Pforr\, Pape\, and Murau (2022)\n2025-01-14 Where Profits Come From by the Levy Forecasting Center by Levy\, Farnham\, & Rajan (2008/1997)\n2025-01-28 The Broad Consequences of Narrow Banking by Matheus R. Grasseli and Alexander Lipton (2019)\n2025-02-11 Failing Banks by Sergio Correia\, Stephen Luck\, and Emil Verner (2024)\n2025-02-18 Odd Lots — The Hidden History of Eurodollars by Lev Menand and Joshua Younger (January 2025)\n2025-03-04 Of Last Resort: Evaluating the Treasury-Equity Model of Federal Reserve Emergency Lending by Steven Kelly (2024)\n2025-03-18 Commercial Banking and Capital Formation I–IV by Harold Moulton (1918)\n2025-04-01 Climate Alignment For Banks: The Stories That Numbers Tell by Nadav Orian Peer (2025) Author Discussion\n2025-04-15 Shadow Banking: Why Modern Money Markets are Less Stable Than 19th c. Money Markets But Shouldn’t Be Stabilized by a ‘Dealer of Last Resort’ by Carolyn Sissoko (2014)\n2025-04-29 Treasury Market and the Basis Trade (Adrian et al. 2025; Kashyap et al. 2025)\n2025-06-10 Structural Changes in the Global Financial System lecture by Hyun Song Shin (May 19\, 2025)\n2025-06-24 International Regimes\, Transactions\, and Change: Embedded Liberalism in the Postwar Economic Order by John Gerard Ruggie (1982)\n2025-07-15 BIS Annual Report Chapter: Financial conditions in a changing global financial system (2025)\n2025-07-22 Banks Are Intermediaries of Loanable Funds by George Selgin (2024)\n2025-07-29 Theorising non-bank financial intermediation by Jo Michell (2024)\n2025-08-05 Banks are different: why bank-based versus market-based lending is a false dichotomy by Carolyn Sissoko (2024)\n2025-09-08 Did France Cause the Great Depression? by Douglas A. Irwin (2010)\n2025-09-22 Rethinking Monetary Sovereignty: The Global Credit Money System and the State by Murau and van’t Klooster (2023)\n2025-10-06 Rethinking currency internationalisation: offshore money creation and the EU’s monetary governance by Murau and van’t Klooster (2025)\n2025-10-27 BIS Bulletin No 114: “Financial channel implications of a weaker dollar for emerging market economies” by Juselius\, Wooldridge and Xia (October 13\, 2025)\n2025-11-24 Bubble or Nothing: Data Center Project Finance by Advait Arun (November 12\, 2025)\n2025-12-08 Discussion of Debate over Whether Money Multiplier Requires Cash Lending\n2026-01-20 Gresham’s Law by Charles P. Kindleberger (1989)\n2026-02-03 The Law of One Price by Charles P. Kindleberger (1989)\n2026-02-17 Bank Runs With and Without Bank Failures by Correia\, Luck\, and Verner (2026)\n2026-03-03 Monetary Experience and the Theory of Money by John Hicks (1977)\n2026-03-31 What Is Money (1913) and The Credit Theory of Money (1914) by A. Mitchell-Innes\n2026-04-21 Covered interest parity lost: understanding the cross-currency basis by Borio et al. (2016)\n2026-04-28 Decoupling Dollar and Treasury Privilege by Du\, Keerati\, and Schreger (2025)\n2026-06-30 FEDS Note: Decomposing Hedge Funds’ U.S. Treasury Exposures by Phillip J. Monin (June 22\, 2026)\n2026-07-14 The Chicago Plan Revisited by Benes and Kumhof (2012)
URL:https://heske.wisdmlabs.net/event/money-view-reading-group/2026-10-06/
CATEGORIES:A series of zooms
ATTACH;FMTTYPE=image/png:https://heske.wisdmlabs.net/wp-content/uploads/2023/12/lecture2-p4x2-hierarchy-pyramid-dynamics.png
LOCATION:https://heske.wisdmlabs.net/event/money-view-reading-group/2026-10-06/
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=America/New_York:20261013T140000
DTEND;TZID=America/New_York:20261013T153000
DTSTAMP:20260717T225613Z
CREATED:20231212T030110Z
LAST-MODIFIED:20260717T225613Z
UID:10008205-1791900000-1791905400@heske.wisdmlabs.net
SUMMARY:Money View Reading Group
DESCRIPTION:The Money View Reading Group reads and discusses writings on money\, banking\, and finance. We are a self-directed group. Anyone interested in money and banking can read the readings\, join us for discussions\, or suggest future readings.\nWe meet for 90 minutes via Zoom on Tuesdays at 2 pm Eastern Time US (New York). \n\nCurrent Book\n\n\nAfter the Accord: A History of Federal Reserve Open Market Operations\, the US Government Securities Market\, and Treasury Debt Management from 1951 to 1979\n\nby Kenneth D. Garbade (2021) \nhttps://www.amazon.com/dp/1108839894/ \nFrom the description \nIn this book Garbade\, a former analyst at a primary dealer and researcher at the Federal Reserve Bank of New York\, traces the evolution of open market operations\, Treasury debt management\, and the microstructure of the US government securities markets following the 1951 Treasury-Federal Reserve. This volume examines how these operations evolved\, responding both to external forces and to one another. Utilising a vast scope of primary material\, the work provides insight into how officials fashioned the instruments\, facilities\, and procedures needed to advance their policy objectives in light of their novel freedoms and responsibilities. \nThis is a big book. As we did with Braudel’s The Wheel’s of Commerce last summer\, we are discussing this book in five back-to-back weekly sessions. \n\nUpcoming Sessions\n\n\n2026-07-21 – 2:00pm EDT\n\nDuring the off week\, we discuss Arthur C. Pigou’s Famous 1917 paper\, “The Value of Money.” \nhttps://www.jstor.org/stable/1885078?seq=1 \n\n2026-07-28 — 2:00pm EDT\n\nIn our first of five sessions\, we discuss Parts 1 and 2 of After the Accord by Kenneth Garbade. \n\nChapter 1: Introduction\n\nOpen Market Operations After the Accord\n\nBills Preferably\nRepurchase Agreements\nOpen Market Operations in Coupon-Bearing Debt\n\n\nTreasury Debt Management After the Accord\n\n\nPart I: The System and the Market in the 1940s\n\nChapter 2: The Government Securities Market\n\nWartime Interest Rate Ceilings\nFrom the End of the War to the End of 1949\nBill Auctions\nCash Subscription Offerings\nExchange Offerings\nAn Example\nThe Secondary Market\nThe Postwar Secondary Market\nThe Role of Dealers in Primary Market Offerings\n\n\nChapter 3: Reserves\, Reserve Requirements\, and Reserves Management\n\nReserve Requirements\n\nDemand Deposits\n\n\nReserves in Aggregate\nThe Inter-Bank Market for Federal Funds\nReserves Management\nAppendix: Treasury Cash Management\nAppendix: Identifying the Sources and Uses of Reserves\n\n\nChapter 4: The Institutional Framework of Open Market Operations\n\nThe Recognized Dealer Program\n\nFormalization of the Recognized Dealer Program\n\n\nAdvent of the Qualified Dealer Program\n\nRevising the Institutional Framework of Open Market Operations\nImplementing the Revised Framework\nThe Qualified Dealer Program at the End of the 1940s\n\n\nAppendix: Orderly Markets\n\nA Reexamination\n\n\n\n\n\n\nPart II: The Accord and Its Aftermath\n\nChapter 5: The Accord\n\nRun-Up to the Accord\nThe Accord\n\nThe Nomarketable Bond Offering\n\n\nAfter the Accord\n\n\nChapter 6: Taking Stock\n\nThe New York Reserve Bank Study\n\nThe Existing Framework\nProspects for Fundamental Change\n\nAn Exchange Market\nDirect Trading by Federal Reserve Banks\nReliance on Nonmarketable Long-Term Debt\n\n\nProspects for More Modest Changes\n\nExpanding the Number of Qualified Dealers\n\n\nRelations between the System and the Treasury\nSumming Up\n\n\nThe Ad Hoc Subcommittee Study\n\nSystem Intervention\n\nBills Preferably\nTreasury Financings\n\n\nDealer Qualification Requirements\nMarket Intelligence\n\n\n\n\nChapter 7: New Directions\n\nMarket Intervention\nDealer Relations\n\nMarket Intelligence\n\n\nSubsequent Actions\n\nThe End of the Qualified Dealer Program\nPublicizing the New Restrictions on Market Intervention\n\n\n\n\nChapter 8: Challenging the New Restrictions\n\nThe April 1953 Bond Offering\nThe Mid-May Executive Committee Meetings\n\nThe May 6 Meeting\nThe May 13 Meeting\nSystem Open Market Account Activity and Reserve Availability in May\n\n\nBreakdown and Intervention\nRevisiting the Restrictions on Intervention\n\nReimposition\n\n\nThe Controversy Becomes Public\n\n\nChapter 9: An Additional Limitation on the Conduct of Open Market Operations\n\nA Swap Authorization\nPushback\nRound Two\n\n\n\n\n\n\n2026-08-04 — 2:00pm EDT\n\nIn our second of five sessions\, we discuss Part 3 of After the Accord by Kenneth Garbade. \n\nPart III: The New Regime\n\nChapter 10: Monetary Policy in 1954\n\nMonitoring Economic Activity\nMonetary Policy\n\nThe Directives\nThe Minutes\n\n\nCaveats\n\n\nChapter 11: Policy Instruments for Reserves Management\n\nOutright Purchases and Sales of Treasury Bills\nRepurchase Agreements on Short-Term Treasury Securities\n\nRepurchase Agreements before the Accord\nPostwar Reinstatement\nLinking the Floor on Repo Rates to the Treasury Bill Rate Instead of the Discount Rate\nConsequences of the Accord\nRepurchase Agreements in 1954\nRobertson’s Resistance to System Repurchase Agreements\nThe Opening Round\nRobertson’s Critique\nA Proposal\nReconciliation\nSubsequent Events\n\n\n\n\nChapter 12: Monetary Policy in 1955\n\nFOMC Directives\nMoney Market Indicators\nTreasury Offerings of Coupon-Bearing Debt\n\nAttrition on Exchange Offerings\nMaintaining an Even Keel\n\n\nDefensive Operations\n\nWhen Reserves Needed to Be Drained\nTwo Work-Arounds\n\n\n\n\nChapter 13: Pragmatism in the Accommodation of Treasury Offerings\n\nRepurchase Agreements on Rights\nIntervention\nIntervention by Another Name\n\n\nChapter 14: 1956 and 1957\n\nDefensive Operations\n\nCurrency\nFloat\nTreasury Balances at Federal Reserve Banks\nForecasting Errors\n\n\nAccommodating Treasury Offerings\n\nThe May 1957 Refunding\nSubsequent Offerings in 1957\n\n\nThe Continuing Importance of Repurchase Agreements\n\n\n\n\n\n\n2026-08-11 — 2:00pm EDT\n\nIn our third of five sessions\, we discuss Parts 4 and 5 of After the Accord by Kenneth Garbade. \n\nPart IV: Summer 1958 and Its Consequences\n\nChapter 15: The Summer 1958 Treasury Financings\n\nAn Overview of 1958\nRun-Up to the June Financing\nThe June Financing\n\nResults of the Financing\n\n\nThe Aftermath of the June Financing\n\nThe Treasury Enters the Market\nTrading on July 8\nTreasury Reveals Its Purchases\n\n\nIraq and Lebanon\nThe July Refunding\n\nFriday\, July 18\nThe Subscription Period (Monday\, July 21 to Wednesday\, July 23)\nDenouement\n\n\nAftermath to the July Refunding\n\n\nChapter 16: Innovations in Treasury Debt Management\n\nA Need for Change\n\nTreasury Issuance of Coupon-Bearing Debt from 1953 to 1958\nGaines’s Critique\nTreasury Bills – A Bright Spot\nFriedman’s Recommendations\n\n\nTreasury’s Innovations\n\nIssuing and Redeeming Coupon-Bearing Debt on a Regular Schedule\nTwenty-Six-Week Bills\nCash Refundings\nThe Problem of SOMA Reinvestments\nAdvance Refundings\nWhy the Treasury Declined to Extend the Auction Process to Coupon-Bearing Securities\n\n\n\n\nChapter 17: The Treasury-Federal Reserve Study of the Government Securities Market\n\nMarket Statistics\n\nAdvent of the Reporting Dealer Program\n\nInitial Discussions\nA Joint Staff Proposal\nImplementation\n\n\n\n\nDealer Finance\nProspects for a Dealer Association\n\n\n\n\nPart V: The End of Bills Preferably\n\nChapter 18: The 1958-1960 Gold Drain\n\nGold in the International Payments System\nThe London Gold Market\nThe Place of Gold in FOMC Deliberations\nThe Break-out of London Gold Prices\nThe Place of Gold in FOMC Deliberations After the Break-out\nContemplating the Future\n\n\nChapter 19: Operation Twist\n\nHow Economists Viewed the Term Structure of Interest Rates\nThe February 7 Executive Session of the Federal Open Market Committee\nConducting Open Market Operations in Longer-Term Securities\nWhat\, Exactly\, Were the Objectives of the New Program?\nDisengagement?\nThe Scale of Open Market Operations in Longer-Term Securities\nAbandoning the 1953 Operating Principles\nOperation Twist After 1961\n\nNew Policy Instruments\nNew Empirical Evidence\n\n\nThe End of $35 Gold\n\n\n\n\n\n\n2026-08-18 — 2:00pm EDT\n\nIn our fourth of five sessions\, we discuss Parts 6 and 7 of After the Accord by Kenneth Garbade. \n\nPart VI: The 1960s\n\nChapter 20: Treasury Debt Management in the 1960s\n\nSecular Variation of Marketable Debt\nTreasury Bills\n\nRegular Bills\nBill Strips\nTax Anticipation Bills\n\n\nCertificates\, Notes\, and Bonds\n\nMid-Quarter Refundings\nStand-Alone Offerings for New Money\nAdvance Refundings\n\nAdvance Refundings after Mid-1965\n\n\n\n\nThe Two Worlds of Treasury Finance\n\nAn Experiment in Auctioning Bonds\n\n\n\n\nChapter 21: Monetary Policy in the 1960s\n\n1961 to 1965\n1966\n\nThe August Money Panic\n\n\n\n\nChapter 22: Repurchase Agreements in the 1960s\n\nSystem Access to Repo Collateral\n\nRelaxing the Two-Year Maturity Limit\nEliminating the Two-Year Maturity Limit and Permitting Back-to-Back Repos\nSystem Repos on Agency Collateral\n\n\nMatched Sale-Purchase Agreements\nAn Unsuccessful Effort to Introduce More Flexible Repo Pricing\n\n\n\n\nPart VII: Updating Market Infrastructures: The Joint Study\n\nChapter 23: The Association of Primary Dealers\n\nArrivals and Departures\nFederal Reserve and Treasury Thinking About a Dealer Association\nPrecipitating Events\nFormation of the Association of Primary Dealers\n\n\nChapter 24: Dealer Finance\n\nDealer Finance and the Role of Money Market Banks as Residual Lenders\nRecommendations of the Joint Study Steering Committee\nResponse of the Federal Open Market Committee\n\n\nChapter 25: The Government Securities Clearing Arrangement\n\nSettling Transactions in Treasury Securities Before 1965\n\nIntracity Settlements\nCPD Settlement\n\n\nOrigins of the Clearing Arrangement\nThe Pilot Program\nIntracity Transfers\nBalancing the Demands of Competing Settlement Systems\nRemarks\n\n\nChapter 26: Securities Lending\n\nThe Impetus for a Federal Reserve Securities Lending Program\nThe Joint Study Proposal\n\nThe Staff Study\nDiscussion by the Steering Committee\nThe FOMC Response\n\n\nThe 1969 Fails Crisis\nThe FOMC Revisits Securities Lending\nWhether to Lend Against Short Sales\n\n\nChapter 27: The Book-Entry System\, Part I\n\nOrigins of the Book-Entry System\nIssues in Creating a Book-Entry System\nThe First Implementation\nThe Second Implementation\nWhat Remained to be Done\n\n\n\n\n\n\n2026-08-25 — 2:00pm EDT\n\nIn our last of five sessions\, we discuss Parts 8 and 9 of After the Accord by Kenneth Garbade. \n\nPart VIII: The 1970s\n\nChapter 28: Treasury Debt Management in the 1970s\n\nMarketable Treasury Debt in the 1970s\n\nRegular Bills\nThirteen- and Twenty-Six-Week Bills\nNine-Month Bills and One-Year Bills\nBill Strips\nIrregular Bills\nNotes and Bonds\nAverage Maturity\n\n\nThe Introduction of Treasury Note and Bond Auctions\n\nThe May 1970 Refunding\nThe First Auction\nSubsequent Auction Offerings of Notes and Bonds\nConsequences of Bond Auctions for Advance Refundings\nFine-Tuning the Auction Process\n\nA Failed Auction and the Advent of Yield Auctions\nThe End of Single-Price Auctions\n\n\nA Last Harrah for Fixed-Price Offerings\n\n\nThe Advent of Regular and Predictable Note and Bond Offerings\n\nThe Introduction of Two-Year Cycle Notes\nExtending Regular and Predictable Issuance to Intermediate-Term Notes\nMid-Quarter Refundings and Fifteen-Year Bonds\n\n\nA Recapitulation of Treasury Debt Management Innovations in the 1970s\n\n\nChapter 29: Monetary Policy in the 1970s\n\n1970-1971\n1972-1973\n1974-1979\nFluctuations in Autonomous Factors\n\nTreasury Deposits at Federal Reserve Banks\nFloat\nBank Borrowing at the Discount Window\n\n\nThe End (Sort of) of Even Keel\n\n\nChapter 30: Open Market Operations in the 1970s\n\nThe Operating Environment\n\nTreasury Cash Management\n\n\nThe Continuing Problem with Liquidity\n\nCompetitive Repo Pricing\nSystem Repos with Bank Dealers\nAnother Way Around the Barn\n\n\nOutright Transactions in Federal Agency Debt\n\nReconsideration\nSubsequent Events\n\n\n\n\n\n\nPart IX: Infrastructure in the 1970s\n\nChapter 31: The Secondary Market in the 1970s\n\nPrimary Dealers\nThe Interdealer Broker Market\n\nManaging the Risks of Blind Brokerage\nSeparating Reporting Dealer Status from Primary Dealer Status\n\n\nThe Rise of Screen Brokers\n\n\nChapter 32: The Book-Entry System\, Part II\n\nThe Insurance Crisis\nExpansion of the Book-Entry System\nConfronting the Limits of Technology\nThe End of the GSCA and the End of Definitive Securities\n\n\nChapter 33: Coda\n\nInitial Actions\n\nThe 1953 Operating Principles\nEven Keeling\n\n\nA Metaphor for Change\nTreasury Debt Management\n\nAuctions of Coupon-Bearing Debt\n\n\nOpen Market Operations\nFailed and Supplanted Initiatives\nInter-Agency Accommodations\n\nOperation Twist\nTreasury Cash Management\nCash Management Bills\n\n\nMarket Infrastructure\n\nGovernment Securities Clearing Arrangement\nBook-Entry II\nSecurities Lending\nThe Association of Primary Dealers in US Government Securities\n\n\nRecapitulation\n\n\nChapter 34: After 1979\n\nTreasury Debt Management\n\nNew Securities\nAuction Innovations\n\n\nMarket Infrastructure\n\nDrysdale\nESM and Bevill\, Bresler\nThe Government Securities Clearing Corporation\nAccess to the Interdealer Broker Market\n\n\n\n\n\n\n\n\nFuture Suggested Readings\n\n\nHow a Ledger Became a Central Bank: A Monetary History of the Bank of Amsterdam by Quinn and Roberds (2023)\nThe Almighty Dollar: 500 Years of the World’s Most Powerful Money by Brendan Greeley (2026)\nWell Worth Saving: How the New Deal Safeguarded Home Ownership by Fishback\, Rose\, and Snowden (2013)\nSlapped by the Invisible Hand: The Panic of 2007 by Gary Gorton (2010)\nThe House of Morgan by Ron Chernow (1990)\nA Study of Money Flows in the United States by Morris Copeland (1952)\nA History of the Greenbacks by Wesley Clair Mitchell (1903)\nCalming the Storms: The Carry Trade\, the Banking School and British Financial Crises Since 1825 by Charles Read (2023)\nBenjamin Strong: Central Banker by Lester V. Chandler (1958)\nAn Engine\, Not a Camera: How Financial Models Shape Markets by Donald MacKenzie (2007)\nCurrency and Credit (4e) by Ralph Hawtrey (1950)\nThe Golden Age of the Quantity Theory by David Laidler (1991)\nCapitalizing on Crisis: The Political Origins of the Rise of Finance by Greta Krippner (2011)\nThe Federal Reserve System by Paul Warburg (1930)\nCentral Bank Capitalism: Monetary Policy in Times of Crisis by Joscha Wullweber (2024)\nIntroduction to Central Banking by Ulrich Bindseil and Alessio Fota (2021)\nThe Chairman: John J. McCloy & The Making of the American Establishment by Kai Bird (1992)\nManias\, Panics\, and Crashes (8e) by Robert McCauley (2023)\nThe Bailout State: Why Governments Rescue Banks\, Not People by Martijn Konings (2025)\n\n\nPast Readings with Discussion Recordings\n\n\nMinsky by Daniel H. Neilson (2019)\n2021-03-24 — Discussion Session 1\n2021-03-31 — Discussion Session 2\n2021-04-07 — Discussion with Daniel Neilson\nThe Art of Central Banking (Chapter IV) by Ralph Hawtrey (1933)\n2021-04-21 — Discussion Session 1\n2021-05-05 — Discussion Session 2\n2021-05-26 — Discussion with David Glasner\nMaking Money: Coin\, Currency\, and the Coming of Capitalism by Christine Desan (2014)\n2021-06-02 — Discussion Session 1\n2021-06-16 — Discussion Session 2\n2021-06-30 — Discussion Session 3\n2021-07-14 — Discussion with Christine Desan\nMoney in a Theory of Finance by John G. Gurley\, Edward S. Shaw (1960)\n2021-07-21 — Discussion Session 1\n2021-08-04 — Discussion Session 2\n2021-08-18 — Discussion Session 3\nThe World in Depression\, 1929-1939 by Charles P. Kindleberger (1973)\n2021-09-01 — Discussion Session 1\n2021-09-15 — Discussion Session 2\n2021-09-29 — Discussion Session 3\nThe Rise of Carry by Jamie Lee et al (2019)\n2021-10-13 — Discussion Session 1\n2021-10-27 — Discussion Session 2\nThe Money Interest and the Public Interest by Perry Mehrling (1998)\n2021-11-10 — Discussion Session 1 | Allyn Young\n2021-11-24 — Discussion Session 2 | Alvin Hanson\n2021-12-08 — Discussion Session 3 | Edward Shaw\nControlling Credit by Eric Monnet (2018)\n2022-01-05 — Discussion Session 1\n2022-01-19 — Discussion Session 2\nThe Menace of Fiscal QE by George Selgin (2020)\n2022-02-02 — Discussion Session\nThe New Lombard Street by Perry Mehrling (2011)\n2022-02-23 — Discussion Session 1\n2022-03-09 — Discussion Session 2\n2022-03-23 — Discussion Session 3\nFighting Financial Crises: Learning from the Past by Gary Gorton\, Ellis Tallman (2021)\n2022-04-20 — Discussion Session 1\n2022-05-11 — Discussion Session 2\nMoney and empire: The international gold standard\, 1890-1914 by Marcello De Cecco (1974)\n2022-05-25 — Discussion Session 1\n2022-06-15 — Discussion Session 2\nCentral Bank Cooperation 1924-31 by Stephen Clarke (1967)\n2022-06-22 — Discussion Session 1\n2022-07-06 — Discussion Session 2\nThe Money Problem: Rethinking Financial Regulation by Morgan Ricks (2016)\n2022-07-27 — Discussion Session 1\n2022-08-10 — Discussion Session 2\n2022-08-17 — Discussion with Morgan Ricks\nThe Evolution of Central Banking: Theory and History by Stefano Ugolini (2017)\n2022-08-24 — Discussion Session 1\n2022-09-07 — Discussion Session 2\n2022-09-21 — Discussion Session 3\n2022-10-05 — Discussion with Stefano Ugolini\nA Financial History of Western Europe by Charles P. Kindleberger (1984\, 1993)\n2022-10-19 — Discussion Session 1 | Part 1: Money\n2022-11-02 — Discussion Session 2 | Part 2: Banking\n2022-11-16 — Discussion Session 3 | Part 3: Finance\n2023-01-11 — Discussion Session 4 | Part 4: The Interwar Period\n2023-01-18 — Discussion Session 5 | Part 5: After World War II\nMoney and Empire: Charles P. Kindleberger and the Dollar System by Perry Mehrling (2022)\n2022-11-30 — Discussion Session 1 | Part 1: Intellectual Formation\, 1910–1948\n2022-12-14 — Discussion Session 2 | Part 2: International Economist\, 1948–1976\n2022-12-21 — Discussion Session 3 | Part 3: Historical Economist\, 1976–2003\n2022-12-21 — Discussion #1 with Perry Mehrling\n2023-01-04 — Discussion #2 with Perry Mehrling\nBonds without Borders: A History of the Eurobond Market by Chris O’Malley (2015)\n2023-02-15 — Discussion Session 1\n2023-03-01 — Discussion Session 2\nMonetary Policy Operations and the Financial System by Ulrich Bindseil (2014)\n2023-03-15 — Discussion Session 1 (Ch 1-8)\n2023-03-29 — Discussion Session 2 (Ch 9-12)\n2023-04-12 — Discussion Session 3 (Ch 13-18)\nCapital Wars: The Rise of Global Liquidity by Michael J. Howell (2020)\n2023-04-26 — Discussion Session 1 (Ch 1-7)\n2023-05-10 — Discussion Session 2 (Ch 8-14)\nA Market Theory of Money by John Hicks (1989)\n2023-05-24 — Discussion Session 1 (Ch 1-7)\n2023-06-07 — Discussion Session 2 (Ch 8-15)\nThe Currency of Politics: The Political Theory of Money from Aristotle to Keynes by Stefan Eich (2022)\n2023-06-28 — Discussion Session 1 (Ch 1 & 2)\n2023-07-19 — Discussion Session 2 (Ch 3 & 4)\n2023-08-02 — Discussion Session 3 (Ch 5 & 6)\n2023-08-14 — Discussion with Stefan Eich\nFischer Black and the Revolutionary Idea of Finance by Perry Mehrling (2005)\n2023-08-22 — Discussion Session 1 (Ch 1–5)\n2023-09-05 — Discussion Session 2 (Ch 6–8)\n2023-09-19 — Discussion Session 3 (Ch 9–11)\n2023-09-26 — Discussion with Perry Mehrling\nThe Evolution of Central Banks by Charles Goodhart (1988)\n2023-10-03 — Discussion Session 1 (Ch 1–6)\n2023-10-17 — Discussion Session 2 (Ch 7–8\, Appendix)\nThe Repo Market: Shorts\, Shortages\, and Squeezes by Scott Skyrm (2023)\n2023-11-07 — Discussion Session 1 (pages 1–92)\n2023-11-21 — Discussion Session 2 (pages 93–186)\n2023-12-05 — Discussion Session 3 (pages 187–310) Part 1 — Part 2\n2023-12-12 — Discussion with Scott Skyrm From 39:20\nThe Volatility Machine: Emerging Economies and the Threat of Financial Collapse by Michael Pettis (2001)\n2023-12-19 — Discussion Session 1 (Ch 1–5)\n2024-01-02 — Discussion Session 2 (Ch 6–10)\n2024-01-09 — Discussion with Michael Pettis\nInternational Capital Movements by Charles P. Kindleberger (1987)\n2024-01-16 — Discussion Session 1 (Ch 1 & 2)\n2024-01-30 — Discussion Session 2 (Ch 3 & 4)\nA Political Theory of Money by Anush Kapadia (2024)\n2024-02-20 — Discussion Session 1 (Ch 1–4)\n2024-03-05 — Discussion Session 2 (Ch 5–7)\n2024-03-19 — Discussion Session 3 (Ch 8–12)\n2024-03-26 — Discussion with Anush Kapadia\nThe Rise of Central Banks: State Power in Financial Capitalism by Leon Wansleben (2023)\n2024-04-02 — Discussion Session 1 (Ch 1–3)\n2024-04-23 — Discussion Session 2 (Ch 4–6)\n2024-05-07 — Discussion with Leon Wansleben\nThe Money Illusion: Market Monetarism\, the Great Recession\, and the Future of Monetary Policy by Scott Sumner (2021)\n2024-05-14 — Discussion Session 1 (Parts 1 & 2)\n2024-05-28 — Discussion Session 2 (Parts 3 & 4)\n2024-06-18 — Discussion Session 3 (Parts 5 & 6)\n2024-06-25 — Discussion with Scott Sumner\nPrivate Money and Public Currencies: The Sixteenth Century Challenge: The Sixteenth Century Challenge by Boyer-Xambeu\, Deleplace\, and Gillard (1994)\n2024-07-02 — Discussion Session 1 (Ch 1–3)\n2024-07-16 — Discussion Session 2 (Ch 4 & 5)\n2024-07-30 — Discussion Session 3 (Ch 6\, 7 & Conclusion)\nThe Arena of International Finance by Charles A. Coombs (1976)\n2024-08-13 — Discussion Session 1 (Ch 1ー6)\n2024-08-27 — Discussion Session 2 (Ch 7–12)\nThe Bill on London: or The Finance of Trade by Bills of Exchange by Gillett Brothers (1952/1976)\n2024-09-17 — Discussion Session\nBirth of a Market: The U.S. Treasury Securities Market from the Great War to the Great Depression by Kenneth D. Garbade (2012)\n2024-10-01 — Discussion Session 1 (Ch 1–10)\n2024-10-15 — Discussion Session 2 (Ch 11–15)\n2024-10-29 — Discussion Session 3 (Ch 16–24)\nA Monetary and Fiscal History of the United States\, 1961–2021 by Alan S. Blinder (2022)\n2024-11-12 — Discussion Session 1 (Ch 1–7)\n2024-11-26 — Discussion Session 2 (Ch 8–13)\n2024-12-10 — Discussion Session 3 (Ch 14–19)\nBuilding a Ruin: The Cold War Politics of Soviet Economic Reform by Yakov Feygin (2024)\n2025-01-07 — Discussion Session 1 (Ch 1–3)\n2025-01-21 — Discussion Session 2 (Ch 4–6)\n2025-02-04 — Discussion Session 3 (Ch 7 & Afterword)\nA Crash Course on Crises: Macroeconomic Concepts for Run-Ups\, Collapses\, and Recoveries by Markus K. Brunnermeier and Ricardo Reis (2023)\n2025-02-25 — Discussion Session 1 (Parts 1 and 2)\n2025-03-11 — Discussion Session 2 (Parts 3 and 4)\nThe Empire of Value: A New Foundation for Economics by Andre Orlean (2014)\n2025-03-25 — Discussion Session 1 (Introduction and Part 1) Part 1 — Part 2\n2025-04-08 — Discussion Session 2 (Parts 2 and 3)\n2025-04-22 — Discussion Session 3 (Part 4 and Conclusion)\nThe Wheels of Commerce by Fernand Braudel (1979/1982)\n2025-05-06 — Discussion Session 1 (Chapter 1)\n2025-05-13 — Discussion Session 2 (Chapter 2)\n2025-05-20 — Discussion Session 3 (Chapter 3)\n2025-05-27 — Discussion Session 4 (Chapter 4)\n2025-06-03 — Discussion Session 5 (Chapter 5)\nBeyond Banks: Technology\, Regulation\, and the Future of Money by Dan Awrey (2024)\n2025-06-17 — Discussion Session 1 (Intro & Ch 1–3)\n2025-07-01 — Discussion Session 5 (Ch 4–7 & Conclusion)\n2025-07-08 — Discussion with Dan Awrey\nOur Dollar\, Your Problem: An Insider’s View of Seven Turbulent Decades of Global Finance by Kenneth Rogoff (2025)\n2025-08-19— Discussion Session 1 (Parts 1-3)\n2025-08-26 — Discussion Session 2 (Parts 4-6)\nCentral Banking Before 1800: A Rehabilitation by Ulrich Bindseil (2019)\n2025-09-01 — Discussion Session 1 (Ch 1&2)\n2025-09-15 — Discussion Session 2 (Ch 3–5)\n2025-09-29 — Discussion Session 3 (Ch 6&7)\n2025-10-13 — Discussion with Ulrich Bindseil\nThe Long Twentieth Century: Money\, Power and the Origins of Our Times by Giovanni Arrighi (2010)\n2025-10-20 — Discussion Session 1 (Ch 1&2)\n2025-11-03 — Discussion Session 2 (Ch 3)\n2025-11-10 — Discussion Session 3 (Ch 4)\nFragile by Design: The Political Origins of Banking Crises and Scarce Credit by Charles W. Calomiris and Stephen Haber (2014)\n2025-11-17 — Discussion Session 1 (Ch 1–5)\n2025-12-01 — Discussion Session 2 (Ch 6-9)\n2025-12-15 — Discussion Session 3 (Ch 10–15)\n2026-01-05 — Discussion with Charles Calomiris\nTreatise on Money by Joseph Schumpeter (1970/2014)\n2026-01-12 — Discussion Session 1 (Ch 1–3)\n2026-01-27 — Discussion Session 2 (Ch 4–7)\n2026-02-10 — Discussion Session 3 (Ch 8–10)\n2026-02-24 — Discussion Session 4 (Ch 11–12)\nBetween Payments and Credit: An Introduction to the IOU Economy by George Pantelopoulos (2025)\n2026-03-10 — Discussion Session 1 (Ch 1–5)\n2026-03-24 — Discussion Session 2 (Ch 6–10)\n2026-04-07 — Discussion Session 3 (Ch 11–13)\n2026-04-14 — Discussion with George Pantelopoulos\nAgainst Money by J. W. Mason and Arjun Jayadev (2026)\n2026-05-05 — Discussion Session 1 (ch 1–4)\n2026-05-12 — Discussion Session 2 (ch 5–7)\n2026-06-12 — Discussion with J.W. Mason\nOur Money: Monetary Policy as if Democracy Matters by Leah Downey (2025)\n2026-06-02 — Discussion Session 1 (Ch 1–3)\n2026-06-16 — Discussion Session 2 (Ch 4–8)\nThe History of Money: A Story of Humanity by David McWilliams (2024)\n2026-06-23 — Discussion Session 1 (Parts 1 & 2)\n2026-07-07 — Discussion Session 2 (Parts 3–5)\n\n\nOff-Week Sessions\n\n2021-05-19 BIS Working Paper: Breaking free of the triple coincidence in international finance (2015)\n2021-07-07 Global Domain of the Dollar: 8 Questions by Robert McCauley Author Discussion\n2021-07-28 BIS and Bank of England reports on Central Bank Digital Currencies\n2022-09-28 The Crypto Banking System by Sébastien Derivaux (2022) Author Discussion\n2023-04-05 Discussion of Silicon Valley Bank\n2023-04-19 Institutional Cash Pools by Zoltan Pozsar (2011)\n2023-05-03 BIS Bulletin #73: Stablecoins vs. Tokenized Deposits (May 3\, 2023)\n2023-07-05 The Credit–Money Hierarchy: a Republican \, Egalitarian Appraisal by Aaron James (2023)\n2023-07-26 Public Purpose Finance: The Government’s Role as Lender by Nadav Orian Peer (2020) Author Discussion 2023-10-24 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 1\n2023-10-31 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 2\n2023-11-14 ICMA Repo FAQ by Richard Comotto (2013/2019)\n2023-11-28 Basis Trades and Treasury Market Illiquidity by Daniel Barth & Jay Kahn (2020)\n2024-01-23 Capital flows and the current account by Borio and Disyatat (2015)\n2024-02-13 The dual currency system of Renaissance Europe by Luca Fantacci (2008)\n2024-02-27 BIS: Buy now\, pay later: a cross-country analysis by Cornelli et al. (2023)\n2024-03-12 The non-use of money in the Middle Ages by Bell\, Brooks\, and Moore (2017)\n2024-04-09 The Central Role of Credit Crunches in Recent Financial History by Albert M. Wojnilower (1980)\n2024-04-16 Measuring Equilibrium in the Balance of Payments by Charles P. Kindleberger (1969)\n2024-04-30 The Rise and Risks of Private Credit — GFSR (April\, 2024)\n2024-06-04 BIS Working Paper No 1100: Getting up from the floor by Claudio Borio (May\, 2023)\n2024-06-11 The Offshore Dollar and US Policy by Robert McCauley (May\, 2024)\n2024-07-09 The (impossible) repo trinity: the political economy of repo markets by Daniela Gabor (2016)\n2024-08-07 A Safe Haven for Hidden Risks (May 30\, 2024) and Rate Transformation (November 4\, 2023) by Elham Saeidinezhad\n2024-08-20 The Collateral Supply Effect on Central Bank Policy by Carolyn Sissoko (2020)\n2024-09-10 Monetary Policy Implications of Market Maker of Last Resort Operations by Anil K Kashyap (August 23\, 2024)\n2024-11-05 BIS Bulletin No 90: The market turbulence and carry trade unwind of August 2024 (August 27\, 2024)\n2024-11-19 Yen Carry Trade and the Subprime Crisis by Masazumi Hattori and Hyun Song Shin (2009)\n2024-12-03 After the Allocation: What Role for the Special Drawing Rights System? by Pforr\, Pape\, and Murau (2022)\n2025-01-14 Where Profits Come From by the Levy Forecasting Center by Levy\, Farnham\, & Rajan (2008/1997)\n2025-01-28 The Broad Consequences of Narrow Banking by Matheus R. Grasseli and Alexander Lipton (2019)\n2025-02-11 Failing Banks by Sergio Correia\, Stephen Luck\, and Emil Verner (2024)\n2025-02-18 Odd Lots — The Hidden History of Eurodollars by Lev Menand and Joshua Younger (January 2025)\n2025-03-04 Of Last Resort: Evaluating the Treasury-Equity Model of Federal Reserve Emergency Lending by Steven Kelly (2024)\n2025-03-18 Commercial Banking and Capital Formation I–IV by Harold Moulton (1918)\n2025-04-01 Climate Alignment For Banks: The Stories That Numbers Tell by Nadav Orian Peer (2025) Author Discussion\n2025-04-15 Shadow Banking: Why Modern Money Markets are Less Stable Than 19th c. Money Markets But Shouldn’t Be Stabilized by a ‘Dealer of Last Resort’ by Carolyn Sissoko (2014)\n2025-04-29 Treasury Market and the Basis Trade (Adrian et al. 2025; Kashyap et al. 2025)\n2025-06-10 Structural Changes in the Global Financial System lecture by Hyun Song Shin (May 19\, 2025)\n2025-06-24 International Regimes\, Transactions\, and Change: Embedded Liberalism in the Postwar Economic Order by John Gerard Ruggie (1982)\n2025-07-15 BIS Annual Report Chapter: Financial conditions in a changing global financial system (2025)\n2025-07-22 Banks Are Intermediaries of Loanable Funds by George Selgin (2024)\n2025-07-29 Theorising non-bank financial intermediation by Jo Michell (2024)\n2025-08-05 Banks are different: why bank-based versus market-based lending is a false dichotomy by Carolyn Sissoko (2024)\n2025-09-08 Did France Cause the Great Depression? by Douglas A. Irwin (2010)\n2025-09-22 Rethinking Monetary Sovereignty: The Global Credit Money System and the State by Murau and van’t Klooster (2023)\n2025-10-06 Rethinking currency internationalisation: offshore money creation and the EU’s monetary governance by Murau and van’t Klooster (2025)\n2025-10-27 BIS Bulletin No 114: “Financial channel implications of a weaker dollar for emerging market economies” by Juselius\, Wooldridge and Xia (October 13\, 2025)\n2025-11-24 Bubble or Nothing: Data Center Project Finance by Advait Arun (November 12\, 2025)\n2025-12-08 Discussion of Debate over Whether Money Multiplier Requires Cash Lending\n2026-01-20 Gresham’s Law by Charles P. Kindleberger (1989)\n2026-02-03 The Law of One Price by Charles P. Kindleberger (1989)\n2026-02-17 Bank Runs With and Without Bank Failures by Correia\, Luck\, and Verner (2026)\n2026-03-03 Monetary Experience and the Theory of Money by John Hicks (1977)\n2026-03-31 What Is Money (1913) and The Credit Theory of Money (1914) by A. Mitchell-Innes\n2026-04-21 Covered interest parity lost: understanding the cross-currency basis by Borio et al. (2016)\n2026-04-28 Decoupling Dollar and Treasury Privilege by Du\, Keerati\, and Schreger (2025)\n2026-06-30 FEDS Note: Decomposing Hedge Funds’ U.S. Treasury Exposures by Phillip J. Monin (June 22\, 2026)\n2026-07-14 The Chicago Plan Revisited by Benes and Kumhof (2012)
URL:https://heske.wisdmlabs.net/event/money-view-reading-group/2026-10-13/
CATEGORIES:A series of zooms
ATTACH;FMTTYPE=image/png:https://heske.wisdmlabs.net/wp-content/uploads/2023/12/lecture2-p4x2-hierarchy-pyramid-dynamics.png
LOCATION:https://heske.wisdmlabs.net/event/money-view-reading-group/2026-10-13/
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=America/New_York:20261020T140000
DTEND;TZID=America/New_York:20261020T153000
DTSTAMP:20260717T225613Z
CREATED:20231212T030110Z
LAST-MODIFIED:20260717T225613Z
UID:10008206-1792504800-1792510200@heske.wisdmlabs.net
SUMMARY:Money View Reading Group
DESCRIPTION:The Money View Reading Group reads and discusses writings on money\, banking\, and finance. We are a self-directed group. Anyone interested in money and banking can read the readings\, join us for discussions\, or suggest future readings.\nWe meet for 90 minutes via Zoom on Tuesdays at 2 pm Eastern Time US (New York). \n\nCurrent Book\n\n\nAfter the Accord: A History of Federal Reserve Open Market Operations\, the US Government Securities Market\, and Treasury Debt Management from 1951 to 1979\n\nby Kenneth D. Garbade (2021) \nhttps://www.amazon.com/dp/1108839894/ \nFrom the description \nIn this book Garbade\, a former analyst at a primary dealer and researcher at the Federal Reserve Bank of New York\, traces the evolution of open market operations\, Treasury debt management\, and the microstructure of the US government securities markets following the 1951 Treasury-Federal Reserve. This volume examines how these operations evolved\, responding both to external forces and to one another. Utilising a vast scope of primary material\, the work provides insight into how officials fashioned the instruments\, facilities\, and procedures needed to advance their policy objectives in light of their novel freedoms and responsibilities. \nThis is a big book. As we did with Braudel’s The Wheel’s of Commerce last summer\, we are discussing this book in five back-to-back weekly sessions. \n\nUpcoming Sessions\n\n\n2026-07-21 – 2:00pm EDT\n\nDuring the off week\, we discuss Arthur C. Pigou’s Famous 1917 paper\, “The Value of Money.” \nhttps://www.jstor.org/stable/1885078?seq=1 \n\n2026-07-28 — 2:00pm EDT\n\nIn our first of five sessions\, we discuss Parts 1 and 2 of After the Accord by Kenneth Garbade. \n\nChapter 1: Introduction\n\nOpen Market Operations After the Accord\n\nBills Preferably\nRepurchase Agreements\nOpen Market Operations in Coupon-Bearing Debt\n\n\nTreasury Debt Management After the Accord\n\n\nPart I: The System and the Market in the 1940s\n\nChapter 2: The Government Securities Market\n\nWartime Interest Rate Ceilings\nFrom the End of the War to the End of 1949\nBill Auctions\nCash Subscription Offerings\nExchange Offerings\nAn Example\nThe Secondary Market\nThe Postwar Secondary Market\nThe Role of Dealers in Primary Market Offerings\n\n\nChapter 3: Reserves\, Reserve Requirements\, and Reserves Management\n\nReserve Requirements\n\nDemand Deposits\n\n\nReserves in Aggregate\nThe Inter-Bank Market for Federal Funds\nReserves Management\nAppendix: Treasury Cash Management\nAppendix: Identifying the Sources and Uses of Reserves\n\n\nChapter 4: The Institutional Framework of Open Market Operations\n\nThe Recognized Dealer Program\n\nFormalization of the Recognized Dealer Program\n\n\nAdvent of the Qualified Dealer Program\n\nRevising the Institutional Framework of Open Market Operations\nImplementing the Revised Framework\nThe Qualified Dealer Program at the End of the 1940s\n\n\nAppendix: Orderly Markets\n\nA Reexamination\n\n\n\n\n\n\nPart II: The Accord and Its Aftermath\n\nChapter 5: The Accord\n\nRun-Up to the Accord\nThe Accord\n\nThe Nomarketable Bond Offering\n\n\nAfter the Accord\n\n\nChapter 6: Taking Stock\n\nThe New York Reserve Bank Study\n\nThe Existing Framework\nProspects for Fundamental Change\n\nAn Exchange Market\nDirect Trading by Federal Reserve Banks\nReliance on Nonmarketable Long-Term Debt\n\n\nProspects for More Modest Changes\n\nExpanding the Number of Qualified Dealers\n\n\nRelations between the System and the Treasury\nSumming Up\n\n\nThe Ad Hoc Subcommittee Study\n\nSystem Intervention\n\nBills Preferably\nTreasury Financings\n\n\nDealer Qualification Requirements\nMarket Intelligence\n\n\n\n\nChapter 7: New Directions\n\nMarket Intervention\nDealer Relations\n\nMarket Intelligence\n\n\nSubsequent Actions\n\nThe End of the Qualified Dealer Program\nPublicizing the New Restrictions on Market Intervention\n\n\n\n\nChapter 8: Challenging the New Restrictions\n\nThe April 1953 Bond Offering\nThe Mid-May Executive Committee Meetings\n\nThe May 6 Meeting\nThe May 13 Meeting\nSystem Open Market Account Activity and Reserve Availability in May\n\n\nBreakdown and Intervention\nRevisiting the Restrictions on Intervention\n\nReimposition\n\n\nThe Controversy Becomes Public\n\n\nChapter 9: An Additional Limitation on the Conduct of Open Market Operations\n\nA Swap Authorization\nPushback\nRound Two\n\n\n\n\n\n\n2026-08-04 — 2:00pm EDT\n\nIn our second of five sessions\, we discuss Part 3 of After the Accord by Kenneth Garbade. \n\nPart III: The New Regime\n\nChapter 10: Monetary Policy in 1954\n\nMonitoring Economic Activity\nMonetary Policy\n\nThe Directives\nThe Minutes\n\n\nCaveats\n\n\nChapter 11: Policy Instruments for Reserves Management\n\nOutright Purchases and Sales of Treasury Bills\nRepurchase Agreements on Short-Term Treasury Securities\n\nRepurchase Agreements before the Accord\nPostwar Reinstatement\nLinking the Floor on Repo Rates to the Treasury Bill Rate Instead of the Discount Rate\nConsequences of the Accord\nRepurchase Agreements in 1954\nRobertson’s Resistance to System Repurchase Agreements\nThe Opening Round\nRobertson’s Critique\nA Proposal\nReconciliation\nSubsequent Events\n\n\n\n\nChapter 12: Monetary Policy in 1955\n\nFOMC Directives\nMoney Market Indicators\nTreasury Offerings of Coupon-Bearing Debt\n\nAttrition on Exchange Offerings\nMaintaining an Even Keel\n\n\nDefensive Operations\n\nWhen Reserves Needed to Be Drained\nTwo Work-Arounds\n\n\n\n\nChapter 13: Pragmatism in the Accommodation of Treasury Offerings\n\nRepurchase Agreements on Rights\nIntervention\nIntervention by Another Name\n\n\nChapter 14: 1956 and 1957\n\nDefensive Operations\n\nCurrency\nFloat\nTreasury Balances at Federal Reserve Banks\nForecasting Errors\n\n\nAccommodating Treasury Offerings\n\nThe May 1957 Refunding\nSubsequent Offerings in 1957\n\n\nThe Continuing Importance of Repurchase Agreements\n\n\n\n\n\n\n2026-08-11 — 2:00pm EDT\n\nIn our third of five sessions\, we discuss Parts 4 and 5 of After the Accord by Kenneth Garbade. \n\nPart IV: Summer 1958 and Its Consequences\n\nChapter 15: The Summer 1958 Treasury Financings\n\nAn Overview of 1958\nRun-Up to the June Financing\nThe June Financing\n\nResults of the Financing\n\n\nThe Aftermath of the June Financing\n\nThe Treasury Enters the Market\nTrading on July 8\nTreasury Reveals Its Purchases\n\n\nIraq and Lebanon\nThe July Refunding\n\nFriday\, July 18\nThe Subscription Period (Monday\, July 21 to Wednesday\, July 23)\nDenouement\n\n\nAftermath to the July Refunding\n\n\nChapter 16: Innovations in Treasury Debt Management\n\nA Need for Change\n\nTreasury Issuance of Coupon-Bearing Debt from 1953 to 1958\nGaines’s Critique\nTreasury Bills – A Bright Spot\nFriedman’s Recommendations\n\n\nTreasury’s Innovations\n\nIssuing and Redeeming Coupon-Bearing Debt on a Regular Schedule\nTwenty-Six-Week Bills\nCash Refundings\nThe Problem of SOMA Reinvestments\nAdvance Refundings\nWhy the Treasury Declined to Extend the Auction Process to Coupon-Bearing Securities\n\n\n\n\nChapter 17: The Treasury-Federal Reserve Study of the Government Securities Market\n\nMarket Statistics\n\nAdvent of the Reporting Dealer Program\n\nInitial Discussions\nA Joint Staff Proposal\nImplementation\n\n\n\n\nDealer Finance\nProspects for a Dealer Association\n\n\n\n\nPart V: The End of Bills Preferably\n\nChapter 18: The 1958-1960 Gold Drain\n\nGold in the International Payments System\nThe London Gold Market\nThe Place of Gold in FOMC Deliberations\nThe Break-out of London Gold Prices\nThe Place of Gold in FOMC Deliberations After the Break-out\nContemplating the Future\n\n\nChapter 19: Operation Twist\n\nHow Economists Viewed the Term Structure of Interest Rates\nThe February 7 Executive Session of the Federal Open Market Committee\nConducting Open Market Operations in Longer-Term Securities\nWhat\, Exactly\, Were the Objectives of the New Program?\nDisengagement?\nThe Scale of Open Market Operations in Longer-Term Securities\nAbandoning the 1953 Operating Principles\nOperation Twist After 1961\n\nNew Policy Instruments\nNew Empirical Evidence\n\n\nThe End of $35 Gold\n\n\n\n\n\n\n2026-08-18 — 2:00pm EDT\n\nIn our fourth of five sessions\, we discuss Parts 6 and 7 of After the Accord by Kenneth Garbade. \n\nPart VI: The 1960s\n\nChapter 20: Treasury Debt Management in the 1960s\n\nSecular Variation of Marketable Debt\nTreasury Bills\n\nRegular Bills\nBill Strips\nTax Anticipation Bills\n\n\nCertificates\, Notes\, and Bonds\n\nMid-Quarter Refundings\nStand-Alone Offerings for New Money\nAdvance Refundings\n\nAdvance Refundings after Mid-1965\n\n\n\n\nThe Two Worlds of Treasury Finance\n\nAn Experiment in Auctioning Bonds\n\n\n\n\nChapter 21: Monetary Policy in the 1960s\n\n1961 to 1965\n1966\n\nThe August Money Panic\n\n\n\n\nChapter 22: Repurchase Agreements in the 1960s\n\nSystem Access to Repo Collateral\n\nRelaxing the Two-Year Maturity Limit\nEliminating the Two-Year Maturity Limit and Permitting Back-to-Back Repos\nSystem Repos on Agency Collateral\n\n\nMatched Sale-Purchase Agreements\nAn Unsuccessful Effort to Introduce More Flexible Repo Pricing\n\n\n\n\nPart VII: Updating Market Infrastructures: The Joint Study\n\nChapter 23: The Association of Primary Dealers\n\nArrivals and Departures\nFederal Reserve and Treasury Thinking About a Dealer Association\nPrecipitating Events\nFormation of the Association of Primary Dealers\n\n\nChapter 24: Dealer Finance\n\nDealer Finance and the Role of Money Market Banks as Residual Lenders\nRecommendations of the Joint Study Steering Committee\nResponse of the Federal Open Market Committee\n\n\nChapter 25: The Government Securities Clearing Arrangement\n\nSettling Transactions in Treasury Securities Before 1965\n\nIntracity Settlements\nCPD Settlement\n\n\nOrigins of the Clearing Arrangement\nThe Pilot Program\nIntracity Transfers\nBalancing the Demands of Competing Settlement Systems\nRemarks\n\n\nChapter 26: Securities Lending\n\nThe Impetus for a Federal Reserve Securities Lending Program\nThe Joint Study Proposal\n\nThe Staff Study\nDiscussion by the Steering Committee\nThe FOMC Response\n\n\nThe 1969 Fails Crisis\nThe FOMC Revisits Securities Lending\nWhether to Lend Against Short Sales\n\n\nChapter 27: The Book-Entry System\, Part I\n\nOrigins of the Book-Entry System\nIssues in Creating a Book-Entry System\nThe First Implementation\nThe Second Implementation\nWhat Remained to be Done\n\n\n\n\n\n\n2026-08-25 — 2:00pm EDT\n\nIn our last of five sessions\, we discuss Parts 8 and 9 of After the Accord by Kenneth Garbade. \n\nPart VIII: The 1970s\n\nChapter 28: Treasury Debt Management in the 1970s\n\nMarketable Treasury Debt in the 1970s\n\nRegular Bills\nThirteen- and Twenty-Six-Week Bills\nNine-Month Bills and One-Year Bills\nBill Strips\nIrregular Bills\nNotes and Bonds\nAverage Maturity\n\n\nThe Introduction of Treasury Note and Bond Auctions\n\nThe May 1970 Refunding\nThe First Auction\nSubsequent Auction Offerings of Notes and Bonds\nConsequences of Bond Auctions for Advance Refundings\nFine-Tuning the Auction Process\n\nA Failed Auction and the Advent of Yield Auctions\nThe End of Single-Price Auctions\n\n\nA Last Harrah for Fixed-Price Offerings\n\n\nThe Advent of Regular and Predictable Note and Bond Offerings\n\nThe Introduction of Two-Year Cycle Notes\nExtending Regular and Predictable Issuance to Intermediate-Term Notes\nMid-Quarter Refundings and Fifteen-Year Bonds\n\n\nA Recapitulation of Treasury Debt Management Innovations in the 1970s\n\n\nChapter 29: Monetary Policy in the 1970s\n\n1970-1971\n1972-1973\n1974-1979\nFluctuations in Autonomous Factors\n\nTreasury Deposits at Federal Reserve Banks\nFloat\nBank Borrowing at the Discount Window\n\n\nThe End (Sort of) of Even Keel\n\n\nChapter 30: Open Market Operations in the 1970s\n\nThe Operating Environment\n\nTreasury Cash Management\n\n\nThe Continuing Problem with Liquidity\n\nCompetitive Repo Pricing\nSystem Repos with Bank Dealers\nAnother Way Around the Barn\n\n\nOutright Transactions in Federal Agency Debt\n\nReconsideration\nSubsequent Events\n\n\n\n\n\n\nPart IX: Infrastructure in the 1970s\n\nChapter 31: The Secondary Market in the 1970s\n\nPrimary Dealers\nThe Interdealer Broker Market\n\nManaging the Risks of Blind Brokerage\nSeparating Reporting Dealer Status from Primary Dealer Status\n\n\nThe Rise of Screen Brokers\n\n\nChapter 32: The Book-Entry System\, Part II\n\nThe Insurance Crisis\nExpansion of the Book-Entry System\nConfronting the Limits of Technology\nThe End of the GSCA and the End of Definitive Securities\n\n\nChapter 33: Coda\n\nInitial Actions\n\nThe 1953 Operating Principles\nEven Keeling\n\n\nA Metaphor for Change\nTreasury Debt Management\n\nAuctions of Coupon-Bearing Debt\n\n\nOpen Market Operations\nFailed and Supplanted Initiatives\nInter-Agency Accommodations\n\nOperation Twist\nTreasury Cash Management\nCash Management Bills\n\n\nMarket Infrastructure\n\nGovernment Securities Clearing Arrangement\nBook-Entry II\nSecurities Lending\nThe Association of Primary Dealers in US Government Securities\n\n\nRecapitulation\n\n\nChapter 34: After 1979\n\nTreasury Debt Management\n\nNew Securities\nAuction Innovations\n\n\nMarket Infrastructure\n\nDrysdale\nESM and Bevill\, Bresler\nThe Government Securities Clearing Corporation\nAccess to the Interdealer Broker Market\n\n\n\n\n\n\n\n\nFuture Suggested Readings\n\n\nHow a Ledger Became a Central Bank: A Monetary History of the Bank of Amsterdam by Quinn and Roberds (2023)\nThe Almighty Dollar: 500 Years of the World’s Most Powerful Money by Brendan Greeley (2026)\nWell Worth Saving: How the New Deal Safeguarded Home Ownership by Fishback\, Rose\, and Snowden (2013)\nSlapped by the Invisible Hand: The Panic of 2007 by Gary Gorton (2010)\nThe House of Morgan by Ron Chernow (1990)\nA Study of Money Flows in the United States by Morris Copeland (1952)\nA History of the Greenbacks by Wesley Clair Mitchell (1903)\nCalming the Storms: The Carry Trade\, the Banking School and British Financial Crises Since 1825 by Charles Read (2023)\nBenjamin Strong: Central Banker by Lester V. Chandler (1958)\nAn Engine\, Not a Camera: How Financial Models Shape Markets by Donald MacKenzie (2007)\nCurrency and Credit (4e) by Ralph Hawtrey (1950)\nThe Golden Age of the Quantity Theory by David Laidler (1991)\nCapitalizing on Crisis: The Political Origins of the Rise of Finance by Greta Krippner (2011)\nThe Federal Reserve System by Paul Warburg (1930)\nCentral Bank Capitalism: Monetary Policy in Times of Crisis by Joscha Wullweber (2024)\nIntroduction to Central Banking by Ulrich Bindseil and Alessio Fota (2021)\nThe Chairman: John J. McCloy & The Making of the American Establishment by Kai Bird (1992)\nManias\, Panics\, and Crashes (8e) by Robert McCauley (2023)\nThe Bailout State: Why Governments Rescue Banks\, Not People by Martijn Konings (2025)\n\n\nPast Readings with Discussion Recordings\n\n\nMinsky by Daniel H. Neilson (2019)\n2021-03-24 — Discussion Session 1\n2021-03-31 — Discussion Session 2\n2021-04-07 — Discussion with Daniel Neilson\nThe Art of Central Banking (Chapter IV) by Ralph Hawtrey (1933)\n2021-04-21 — Discussion Session 1\n2021-05-05 — Discussion Session 2\n2021-05-26 — Discussion with David Glasner\nMaking Money: Coin\, Currency\, and the Coming of Capitalism by Christine Desan (2014)\n2021-06-02 — Discussion Session 1\n2021-06-16 — Discussion Session 2\n2021-06-30 — Discussion Session 3\n2021-07-14 — Discussion with Christine Desan\nMoney in a Theory of Finance by John G. Gurley\, Edward S. Shaw (1960)\n2021-07-21 — Discussion Session 1\n2021-08-04 — Discussion Session 2\n2021-08-18 — Discussion Session 3\nThe World in Depression\, 1929-1939 by Charles P. Kindleberger (1973)\n2021-09-01 — Discussion Session 1\n2021-09-15 — Discussion Session 2\n2021-09-29 — Discussion Session 3\nThe Rise of Carry by Jamie Lee et al (2019)\n2021-10-13 — Discussion Session 1\n2021-10-27 — Discussion Session 2\nThe Money Interest and the Public Interest by Perry Mehrling (1998)\n2021-11-10 — Discussion Session 1 | Allyn Young\n2021-11-24 — Discussion Session 2 | Alvin Hanson\n2021-12-08 — Discussion Session 3 | Edward Shaw\nControlling Credit by Eric Monnet (2018)\n2022-01-05 — Discussion Session 1\n2022-01-19 — Discussion Session 2\nThe Menace of Fiscal QE by George Selgin (2020)\n2022-02-02 — Discussion Session\nThe New Lombard Street by Perry Mehrling (2011)\n2022-02-23 — Discussion Session 1\n2022-03-09 — Discussion Session 2\n2022-03-23 — Discussion Session 3\nFighting Financial Crises: Learning from the Past by Gary Gorton\, Ellis Tallman (2021)\n2022-04-20 — Discussion Session 1\n2022-05-11 — Discussion Session 2\nMoney and empire: The international gold standard\, 1890-1914 by Marcello De Cecco (1974)\n2022-05-25 — Discussion Session 1\n2022-06-15 — Discussion Session 2\nCentral Bank Cooperation 1924-31 by Stephen Clarke (1967)\n2022-06-22 — Discussion Session 1\n2022-07-06 — Discussion Session 2\nThe Money Problem: Rethinking Financial Regulation by Morgan Ricks (2016)\n2022-07-27 — Discussion Session 1\n2022-08-10 — Discussion Session 2\n2022-08-17 — Discussion with Morgan Ricks\nThe Evolution of Central Banking: Theory and History by Stefano Ugolini (2017)\n2022-08-24 — Discussion Session 1\n2022-09-07 — Discussion Session 2\n2022-09-21 — Discussion Session 3\n2022-10-05 — Discussion with Stefano Ugolini\nA Financial History of Western Europe by Charles P. Kindleberger (1984\, 1993)\n2022-10-19 — Discussion Session 1 | Part 1: Money\n2022-11-02 — Discussion Session 2 | Part 2: Banking\n2022-11-16 — Discussion Session 3 | Part 3: Finance\n2023-01-11 — Discussion Session 4 | Part 4: The Interwar Period\n2023-01-18 — Discussion Session 5 | Part 5: After World War II\nMoney and Empire: Charles P. Kindleberger and the Dollar System by Perry Mehrling (2022)\n2022-11-30 — Discussion Session 1 | Part 1: Intellectual Formation\, 1910–1948\n2022-12-14 — Discussion Session 2 | Part 2: International Economist\, 1948–1976\n2022-12-21 — Discussion Session 3 | Part 3: Historical Economist\, 1976–2003\n2022-12-21 — Discussion #1 with Perry Mehrling\n2023-01-04 — Discussion #2 with Perry Mehrling\nBonds without Borders: A History of the Eurobond Market by Chris O’Malley (2015)\n2023-02-15 — Discussion Session 1\n2023-03-01 — Discussion Session 2\nMonetary Policy Operations and the Financial System by Ulrich Bindseil (2014)\n2023-03-15 — Discussion Session 1 (Ch 1-8)\n2023-03-29 — Discussion Session 2 (Ch 9-12)\n2023-04-12 — Discussion Session 3 (Ch 13-18)\nCapital Wars: The Rise of Global Liquidity by Michael J. Howell (2020)\n2023-04-26 — Discussion Session 1 (Ch 1-7)\n2023-05-10 — Discussion Session 2 (Ch 8-14)\nA Market Theory of Money by John Hicks (1989)\n2023-05-24 — Discussion Session 1 (Ch 1-7)\n2023-06-07 — Discussion Session 2 (Ch 8-15)\nThe Currency of Politics: The Political Theory of Money from Aristotle to Keynes by Stefan Eich (2022)\n2023-06-28 — Discussion Session 1 (Ch 1 & 2)\n2023-07-19 — Discussion Session 2 (Ch 3 & 4)\n2023-08-02 — Discussion Session 3 (Ch 5 & 6)\n2023-08-14 — Discussion with Stefan Eich\nFischer Black and the Revolutionary Idea of Finance by Perry Mehrling (2005)\n2023-08-22 — Discussion Session 1 (Ch 1–5)\n2023-09-05 — Discussion Session 2 (Ch 6–8)\n2023-09-19 — Discussion Session 3 (Ch 9–11)\n2023-09-26 — Discussion with Perry Mehrling\nThe Evolution of Central Banks by Charles Goodhart (1988)\n2023-10-03 — Discussion Session 1 (Ch 1–6)\n2023-10-17 — Discussion Session 2 (Ch 7–8\, Appendix)\nThe Repo Market: Shorts\, Shortages\, and Squeezes by Scott Skyrm (2023)\n2023-11-07 — Discussion Session 1 (pages 1–92)\n2023-11-21 — Discussion Session 2 (pages 93–186)\n2023-12-05 — Discussion Session 3 (pages 187–310) Part 1 — Part 2\n2023-12-12 — Discussion with Scott Skyrm From 39:20\nThe Volatility Machine: Emerging Economies and the Threat of Financial Collapse by Michael Pettis (2001)\n2023-12-19 — Discussion Session 1 (Ch 1–5)\n2024-01-02 — Discussion Session 2 (Ch 6–10)\n2024-01-09 — Discussion with Michael Pettis\nInternational Capital Movements by Charles P. Kindleberger (1987)\n2024-01-16 — Discussion Session 1 (Ch 1 & 2)\n2024-01-30 — Discussion Session 2 (Ch 3 & 4)\nA Political Theory of Money by Anush Kapadia (2024)\n2024-02-20 — Discussion Session 1 (Ch 1–4)\n2024-03-05 — Discussion Session 2 (Ch 5–7)\n2024-03-19 — Discussion Session 3 (Ch 8–12)\n2024-03-26 — Discussion with Anush Kapadia\nThe Rise of Central Banks: State Power in Financial Capitalism by Leon Wansleben (2023)\n2024-04-02 — Discussion Session 1 (Ch 1–3)\n2024-04-23 — Discussion Session 2 (Ch 4–6)\n2024-05-07 — Discussion with Leon Wansleben\nThe Money Illusion: Market Monetarism\, the Great Recession\, and the Future of Monetary Policy by Scott Sumner (2021)\n2024-05-14 — Discussion Session 1 (Parts 1 & 2)\n2024-05-28 — Discussion Session 2 (Parts 3 & 4)\n2024-06-18 — Discussion Session 3 (Parts 5 & 6)\n2024-06-25 — Discussion with Scott Sumner\nPrivate Money and Public Currencies: The Sixteenth Century Challenge: The Sixteenth Century Challenge by Boyer-Xambeu\, Deleplace\, and Gillard (1994)\n2024-07-02 — Discussion Session 1 (Ch 1–3)\n2024-07-16 — Discussion Session 2 (Ch 4 & 5)\n2024-07-30 — Discussion Session 3 (Ch 6\, 7 & Conclusion)\nThe Arena of International Finance by Charles A. Coombs (1976)\n2024-08-13 — Discussion Session 1 (Ch 1ー6)\n2024-08-27 — Discussion Session 2 (Ch 7–12)\nThe Bill on London: or The Finance of Trade by Bills of Exchange by Gillett Brothers (1952/1976)\n2024-09-17 — Discussion Session\nBirth of a Market: The U.S. Treasury Securities Market from the Great War to the Great Depression by Kenneth D. Garbade (2012)\n2024-10-01 — Discussion Session 1 (Ch 1–10)\n2024-10-15 — Discussion Session 2 (Ch 11–15)\n2024-10-29 — Discussion Session 3 (Ch 16–24)\nA Monetary and Fiscal History of the United States\, 1961–2021 by Alan S. Blinder (2022)\n2024-11-12 — Discussion Session 1 (Ch 1–7)\n2024-11-26 — Discussion Session 2 (Ch 8–13)\n2024-12-10 — Discussion Session 3 (Ch 14–19)\nBuilding a Ruin: The Cold War Politics of Soviet Economic Reform by Yakov Feygin (2024)\n2025-01-07 — Discussion Session 1 (Ch 1–3)\n2025-01-21 — Discussion Session 2 (Ch 4–6)\n2025-02-04 — Discussion Session 3 (Ch 7 & Afterword)\nA Crash Course on Crises: Macroeconomic Concepts for Run-Ups\, Collapses\, and Recoveries by Markus K. Brunnermeier and Ricardo Reis (2023)\n2025-02-25 — Discussion Session 1 (Parts 1 and 2)\n2025-03-11 — Discussion Session 2 (Parts 3 and 4)\nThe Empire of Value: A New Foundation for Economics by Andre Orlean (2014)\n2025-03-25 — Discussion Session 1 (Introduction and Part 1) Part 1 — Part 2\n2025-04-08 — Discussion Session 2 (Parts 2 and 3)\n2025-04-22 — Discussion Session 3 (Part 4 and Conclusion)\nThe Wheels of Commerce by Fernand Braudel (1979/1982)\n2025-05-06 — Discussion Session 1 (Chapter 1)\n2025-05-13 — Discussion Session 2 (Chapter 2)\n2025-05-20 — Discussion Session 3 (Chapter 3)\n2025-05-27 — Discussion Session 4 (Chapter 4)\n2025-06-03 — Discussion Session 5 (Chapter 5)\nBeyond Banks: Technology\, Regulation\, and the Future of Money by Dan Awrey (2024)\n2025-06-17 — Discussion Session 1 (Intro & Ch 1–3)\n2025-07-01 — Discussion Session 5 (Ch 4–7 & Conclusion)\n2025-07-08 — Discussion with Dan Awrey\nOur Dollar\, Your Problem: An Insider’s View of Seven Turbulent Decades of Global Finance by Kenneth Rogoff (2025)\n2025-08-19— Discussion Session 1 (Parts 1-3)\n2025-08-26 — Discussion Session 2 (Parts 4-6)\nCentral Banking Before 1800: A Rehabilitation by Ulrich Bindseil (2019)\n2025-09-01 — Discussion Session 1 (Ch 1&2)\n2025-09-15 — Discussion Session 2 (Ch 3–5)\n2025-09-29 — Discussion Session 3 (Ch 6&7)\n2025-10-13 — Discussion with Ulrich Bindseil\nThe Long Twentieth Century: Money\, Power and the Origins of Our Times by Giovanni Arrighi (2010)\n2025-10-20 — Discussion Session 1 (Ch 1&2)\n2025-11-03 — Discussion Session 2 (Ch 3)\n2025-11-10 — Discussion Session 3 (Ch 4)\nFragile by Design: The Political Origins of Banking Crises and Scarce Credit by Charles W. Calomiris and Stephen Haber (2014)\n2025-11-17 — Discussion Session 1 (Ch 1–5)\n2025-12-01 — Discussion Session 2 (Ch 6-9)\n2025-12-15 — Discussion Session 3 (Ch 10–15)\n2026-01-05 — Discussion with Charles Calomiris\nTreatise on Money by Joseph Schumpeter (1970/2014)\n2026-01-12 — Discussion Session 1 (Ch 1–3)\n2026-01-27 — Discussion Session 2 (Ch 4–7)\n2026-02-10 — Discussion Session 3 (Ch 8–10)\n2026-02-24 — Discussion Session 4 (Ch 11–12)\nBetween Payments and Credit: An Introduction to the IOU Economy by George Pantelopoulos (2025)\n2026-03-10 — Discussion Session 1 (Ch 1–5)\n2026-03-24 — Discussion Session 2 (Ch 6–10)\n2026-04-07 — Discussion Session 3 (Ch 11–13)\n2026-04-14 — Discussion with George Pantelopoulos\nAgainst Money by J. W. Mason and Arjun Jayadev (2026)\n2026-05-05 — Discussion Session 1 (ch 1–4)\n2026-05-12 — Discussion Session 2 (ch 5–7)\n2026-06-12 — Discussion with J.W. Mason\nOur Money: Monetary Policy as if Democracy Matters by Leah Downey (2025)\n2026-06-02 — Discussion Session 1 (Ch 1–3)\n2026-06-16 — Discussion Session 2 (Ch 4–8)\nThe History of Money: A Story of Humanity by David McWilliams (2024)\n2026-06-23 — Discussion Session 1 (Parts 1 & 2)\n2026-07-07 — Discussion Session 2 (Parts 3–5)\n\n\nOff-Week Sessions\n\n2021-05-19 BIS Working Paper: Breaking free of the triple coincidence in international finance (2015)\n2021-07-07 Global Domain of the Dollar: 8 Questions by Robert McCauley Author Discussion\n2021-07-28 BIS and Bank of England reports on Central Bank Digital Currencies\n2022-09-28 The Crypto Banking System by Sébastien Derivaux (2022) Author Discussion\n2023-04-05 Discussion of Silicon Valley Bank\n2023-04-19 Institutional Cash Pools by Zoltan Pozsar (2011)\n2023-05-03 BIS Bulletin #73: Stablecoins vs. Tokenized Deposits (May 3\, 2023)\n2023-07-05 The Credit–Money Hierarchy: a Republican \, Egalitarian Appraisal by Aaron James (2023)\n2023-07-26 Public Purpose Finance: The Government’s Role as Lender by Nadav Orian Peer (2020) Author Discussion 2023-10-24 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 1\n2023-10-31 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 2\n2023-11-14 ICMA Repo FAQ by Richard Comotto (2013/2019)\n2023-11-28 Basis Trades and Treasury Market Illiquidity by Daniel Barth & Jay Kahn (2020)\n2024-01-23 Capital flows and the current account by Borio and Disyatat (2015)\n2024-02-13 The dual currency system of Renaissance Europe by Luca Fantacci (2008)\n2024-02-27 BIS: Buy now\, pay later: a cross-country analysis by Cornelli et al. (2023)\n2024-03-12 The non-use of money in the Middle Ages by Bell\, Brooks\, and Moore (2017)\n2024-04-09 The Central Role of Credit Crunches in Recent Financial History by Albert M. Wojnilower (1980)\n2024-04-16 Measuring Equilibrium in the Balance of Payments by Charles P. Kindleberger (1969)\n2024-04-30 The Rise and Risks of Private Credit — GFSR (April\, 2024)\n2024-06-04 BIS Working Paper No 1100: Getting up from the floor by Claudio Borio (May\, 2023)\n2024-06-11 The Offshore Dollar and US Policy by Robert McCauley (May\, 2024)\n2024-07-09 The (impossible) repo trinity: the political economy of repo markets by Daniela Gabor (2016)\n2024-08-07 A Safe Haven for Hidden Risks (May 30\, 2024) and Rate Transformation (November 4\, 2023) by Elham Saeidinezhad\n2024-08-20 The Collateral Supply Effect on Central Bank Policy by Carolyn Sissoko (2020)\n2024-09-10 Monetary Policy Implications of Market Maker of Last Resort Operations by Anil K Kashyap (August 23\, 2024)\n2024-11-05 BIS Bulletin No 90: The market turbulence and carry trade unwind of August 2024 (August 27\, 2024)\n2024-11-19 Yen Carry Trade and the Subprime Crisis by Masazumi Hattori and Hyun Song Shin (2009)\n2024-12-03 After the Allocation: What Role for the Special Drawing Rights System? by Pforr\, Pape\, and Murau (2022)\n2025-01-14 Where Profits Come From by the Levy Forecasting Center by Levy\, Farnham\, & Rajan (2008/1997)\n2025-01-28 The Broad Consequences of Narrow Banking by Matheus R. Grasseli and Alexander Lipton (2019)\n2025-02-11 Failing Banks by Sergio Correia\, Stephen Luck\, and Emil Verner (2024)\n2025-02-18 Odd Lots — The Hidden History of Eurodollars by Lev Menand and Joshua Younger (January 2025)\n2025-03-04 Of Last Resort: Evaluating the Treasury-Equity Model of Federal Reserve Emergency Lending by Steven Kelly (2024)\n2025-03-18 Commercial Banking and Capital Formation I–IV by Harold Moulton (1918)\n2025-04-01 Climate Alignment For Banks: The Stories That Numbers Tell by Nadav Orian Peer (2025) Author Discussion\n2025-04-15 Shadow Banking: Why Modern Money Markets are Less Stable Than 19th c. Money Markets But Shouldn’t Be Stabilized by a ‘Dealer of Last Resort’ by Carolyn Sissoko (2014)\n2025-04-29 Treasury Market and the Basis Trade (Adrian et al. 2025; Kashyap et al. 2025)\n2025-06-10 Structural Changes in the Global Financial System lecture by Hyun Song Shin (May 19\, 2025)\n2025-06-24 International Regimes\, Transactions\, and Change: Embedded Liberalism in the Postwar Economic Order by John Gerard Ruggie (1982)\n2025-07-15 BIS Annual Report Chapter: Financial conditions in a changing global financial system (2025)\n2025-07-22 Banks Are Intermediaries of Loanable Funds by George Selgin (2024)\n2025-07-29 Theorising non-bank financial intermediation by Jo Michell (2024)\n2025-08-05 Banks are different: why bank-based versus market-based lending is a false dichotomy by Carolyn Sissoko (2024)\n2025-09-08 Did France Cause the Great Depression? by Douglas A. Irwin (2010)\n2025-09-22 Rethinking Monetary Sovereignty: The Global Credit Money System and the State by Murau and van’t Klooster (2023)\n2025-10-06 Rethinking currency internationalisation: offshore money creation and the EU’s monetary governance by Murau and van’t Klooster (2025)\n2025-10-27 BIS Bulletin No 114: “Financial channel implications of a weaker dollar for emerging market economies” by Juselius\, Wooldridge and Xia (October 13\, 2025)\n2025-11-24 Bubble or Nothing: Data Center Project Finance by Advait Arun (November 12\, 2025)\n2025-12-08 Discussion of Debate over Whether Money Multiplier Requires Cash Lending\n2026-01-20 Gresham’s Law by Charles P. Kindleberger (1989)\n2026-02-03 The Law of One Price by Charles P. Kindleberger (1989)\n2026-02-17 Bank Runs With and Without Bank Failures by Correia\, Luck\, and Verner (2026)\n2026-03-03 Monetary Experience and the Theory of Money by John Hicks (1977)\n2026-03-31 What Is Money (1913) and The Credit Theory of Money (1914) by A. Mitchell-Innes\n2026-04-21 Covered interest parity lost: understanding the cross-currency basis by Borio et al. (2016)\n2026-04-28 Decoupling Dollar and Treasury Privilege by Du\, Keerati\, and Schreger (2025)\n2026-06-30 FEDS Note: Decomposing Hedge Funds’ U.S. Treasury Exposures by Phillip J. Monin (June 22\, 2026)\n2026-07-14 The Chicago Plan Revisited by Benes and Kumhof (2012)
URL:https://heske.wisdmlabs.net/event/money-view-reading-group/2026-10-20/
CATEGORIES:A series of zooms
ATTACH;FMTTYPE=image/png:https://heske.wisdmlabs.net/wp-content/uploads/2023/12/lecture2-p4x2-hierarchy-pyramid-dynamics.png
LOCATION:https://heske.wisdmlabs.net/event/money-view-reading-group/2026-10-20/
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=America/New_York:20261027T140000
DTEND;TZID=America/New_York:20261027T153000
DTSTAMP:20260717T225613Z
CREATED:20231212T030110Z
LAST-MODIFIED:20260717T225613Z
UID:10008207-1793109600-1793115000@heske.wisdmlabs.net
SUMMARY:Money View Reading Group
DESCRIPTION:The Money View Reading Group reads and discusses writings on money\, banking\, and finance. We are a self-directed group. Anyone interested in money and banking can read the readings\, join us for discussions\, or suggest future readings.\nWe meet for 90 minutes via Zoom on Tuesdays at 2 pm Eastern Time US (New York). \n\nCurrent Book\n\n\nAfter the Accord: A History of Federal Reserve Open Market Operations\, the US Government Securities Market\, and Treasury Debt Management from 1951 to 1979\n\nby Kenneth D. Garbade (2021) \nhttps://www.amazon.com/dp/1108839894/ \nFrom the description \nIn this book Garbade\, a former analyst at a primary dealer and researcher at the Federal Reserve Bank of New York\, traces the evolution of open market operations\, Treasury debt management\, and the microstructure of the US government securities markets following the 1951 Treasury-Federal Reserve. This volume examines how these operations evolved\, responding both to external forces and to one another. Utilising a vast scope of primary material\, the work provides insight into how officials fashioned the instruments\, facilities\, and procedures needed to advance their policy objectives in light of their novel freedoms and responsibilities. \nThis is a big book. As we did with Braudel’s The Wheel’s of Commerce last summer\, we are discussing this book in five back-to-back weekly sessions. \n\nUpcoming Sessions\n\n\n2026-07-21 – 2:00pm EDT\n\nDuring the off week\, we discuss Arthur C. Pigou’s Famous 1917 paper\, “The Value of Money.” \nhttps://www.jstor.org/stable/1885078?seq=1 \n\n2026-07-28 — 2:00pm EDT\n\nIn our first of five sessions\, we discuss Parts 1 and 2 of After the Accord by Kenneth Garbade. \n\nChapter 1: Introduction\n\nOpen Market Operations After the Accord\n\nBills Preferably\nRepurchase Agreements\nOpen Market Operations in Coupon-Bearing Debt\n\n\nTreasury Debt Management After the Accord\n\n\nPart I: The System and the Market in the 1940s\n\nChapter 2: The Government Securities Market\n\nWartime Interest Rate Ceilings\nFrom the End of the War to the End of 1949\nBill Auctions\nCash Subscription Offerings\nExchange Offerings\nAn Example\nThe Secondary Market\nThe Postwar Secondary Market\nThe Role of Dealers in Primary Market Offerings\n\n\nChapter 3: Reserves\, Reserve Requirements\, and Reserves Management\n\nReserve Requirements\n\nDemand Deposits\n\n\nReserves in Aggregate\nThe Inter-Bank Market for Federal Funds\nReserves Management\nAppendix: Treasury Cash Management\nAppendix: Identifying the Sources and Uses of Reserves\n\n\nChapter 4: The Institutional Framework of Open Market Operations\n\nThe Recognized Dealer Program\n\nFormalization of the Recognized Dealer Program\n\n\nAdvent of the Qualified Dealer Program\n\nRevising the Institutional Framework of Open Market Operations\nImplementing the Revised Framework\nThe Qualified Dealer Program at the End of the 1940s\n\n\nAppendix: Orderly Markets\n\nA Reexamination\n\n\n\n\n\n\nPart II: The Accord and Its Aftermath\n\nChapter 5: The Accord\n\nRun-Up to the Accord\nThe Accord\n\nThe Nomarketable Bond Offering\n\n\nAfter the Accord\n\n\nChapter 6: Taking Stock\n\nThe New York Reserve Bank Study\n\nThe Existing Framework\nProspects for Fundamental Change\n\nAn Exchange Market\nDirect Trading by Federal Reserve Banks\nReliance on Nonmarketable Long-Term Debt\n\n\nProspects for More Modest Changes\n\nExpanding the Number of Qualified Dealers\n\n\nRelations between the System and the Treasury\nSumming Up\n\n\nThe Ad Hoc Subcommittee Study\n\nSystem Intervention\n\nBills Preferably\nTreasury Financings\n\n\nDealer Qualification Requirements\nMarket Intelligence\n\n\n\n\nChapter 7: New Directions\n\nMarket Intervention\nDealer Relations\n\nMarket Intelligence\n\n\nSubsequent Actions\n\nThe End of the Qualified Dealer Program\nPublicizing the New Restrictions on Market Intervention\n\n\n\n\nChapter 8: Challenging the New Restrictions\n\nThe April 1953 Bond Offering\nThe Mid-May Executive Committee Meetings\n\nThe May 6 Meeting\nThe May 13 Meeting\nSystem Open Market Account Activity and Reserve Availability in May\n\n\nBreakdown and Intervention\nRevisiting the Restrictions on Intervention\n\nReimposition\n\n\nThe Controversy Becomes Public\n\n\nChapter 9: An Additional Limitation on the Conduct of Open Market Operations\n\nA Swap Authorization\nPushback\nRound Two\n\n\n\n\n\n\n2026-08-04 — 2:00pm EDT\n\nIn our second of five sessions\, we discuss Part 3 of After the Accord by Kenneth Garbade. \n\nPart III: The New Regime\n\nChapter 10: Monetary Policy in 1954\n\nMonitoring Economic Activity\nMonetary Policy\n\nThe Directives\nThe Minutes\n\n\nCaveats\n\n\nChapter 11: Policy Instruments for Reserves Management\n\nOutright Purchases and Sales of Treasury Bills\nRepurchase Agreements on Short-Term Treasury Securities\n\nRepurchase Agreements before the Accord\nPostwar Reinstatement\nLinking the Floor on Repo Rates to the Treasury Bill Rate Instead of the Discount Rate\nConsequences of the Accord\nRepurchase Agreements in 1954\nRobertson’s Resistance to System Repurchase Agreements\nThe Opening Round\nRobertson’s Critique\nA Proposal\nReconciliation\nSubsequent Events\n\n\n\n\nChapter 12: Monetary Policy in 1955\n\nFOMC Directives\nMoney Market Indicators\nTreasury Offerings of Coupon-Bearing Debt\n\nAttrition on Exchange Offerings\nMaintaining an Even Keel\n\n\nDefensive Operations\n\nWhen Reserves Needed to Be Drained\nTwo Work-Arounds\n\n\n\n\nChapter 13: Pragmatism in the Accommodation of Treasury Offerings\n\nRepurchase Agreements on Rights\nIntervention\nIntervention by Another Name\n\n\nChapter 14: 1956 and 1957\n\nDefensive Operations\n\nCurrency\nFloat\nTreasury Balances at Federal Reserve Banks\nForecasting Errors\n\n\nAccommodating Treasury Offerings\n\nThe May 1957 Refunding\nSubsequent Offerings in 1957\n\n\nThe Continuing Importance of Repurchase Agreements\n\n\n\n\n\n\n2026-08-11 — 2:00pm EDT\n\nIn our third of five sessions\, we discuss Parts 4 and 5 of After the Accord by Kenneth Garbade. \n\nPart IV: Summer 1958 and Its Consequences\n\nChapter 15: The Summer 1958 Treasury Financings\n\nAn Overview of 1958\nRun-Up to the June Financing\nThe June Financing\n\nResults of the Financing\n\n\nThe Aftermath of the June Financing\n\nThe Treasury Enters the Market\nTrading on July 8\nTreasury Reveals Its Purchases\n\n\nIraq and Lebanon\nThe July Refunding\n\nFriday\, July 18\nThe Subscription Period (Monday\, July 21 to Wednesday\, July 23)\nDenouement\n\n\nAftermath to the July Refunding\n\n\nChapter 16: Innovations in Treasury Debt Management\n\nA Need for Change\n\nTreasury Issuance of Coupon-Bearing Debt from 1953 to 1958\nGaines’s Critique\nTreasury Bills – A Bright Spot\nFriedman’s Recommendations\n\n\nTreasury’s Innovations\n\nIssuing and Redeeming Coupon-Bearing Debt on a Regular Schedule\nTwenty-Six-Week Bills\nCash Refundings\nThe Problem of SOMA Reinvestments\nAdvance Refundings\nWhy the Treasury Declined to Extend the Auction Process to Coupon-Bearing Securities\n\n\n\n\nChapter 17: The Treasury-Federal Reserve Study of the Government Securities Market\n\nMarket Statistics\n\nAdvent of the Reporting Dealer Program\n\nInitial Discussions\nA Joint Staff Proposal\nImplementation\n\n\n\n\nDealer Finance\nProspects for a Dealer Association\n\n\n\n\nPart V: The End of Bills Preferably\n\nChapter 18: The 1958-1960 Gold Drain\n\nGold in the International Payments System\nThe London Gold Market\nThe Place of Gold in FOMC Deliberations\nThe Break-out of London Gold Prices\nThe Place of Gold in FOMC Deliberations After the Break-out\nContemplating the Future\n\n\nChapter 19: Operation Twist\n\nHow Economists Viewed the Term Structure of Interest Rates\nThe February 7 Executive Session of the Federal Open Market Committee\nConducting Open Market Operations in Longer-Term Securities\nWhat\, Exactly\, Were the Objectives of the New Program?\nDisengagement?\nThe Scale of Open Market Operations in Longer-Term Securities\nAbandoning the 1953 Operating Principles\nOperation Twist After 1961\n\nNew Policy Instruments\nNew Empirical Evidence\n\n\nThe End of $35 Gold\n\n\n\n\n\n\n2026-08-18 — 2:00pm EDT\n\nIn our fourth of five sessions\, we discuss Parts 6 and 7 of After the Accord by Kenneth Garbade. \n\nPart VI: The 1960s\n\nChapter 20: Treasury Debt Management in the 1960s\n\nSecular Variation of Marketable Debt\nTreasury Bills\n\nRegular Bills\nBill Strips\nTax Anticipation Bills\n\n\nCertificates\, Notes\, and Bonds\n\nMid-Quarter Refundings\nStand-Alone Offerings for New Money\nAdvance Refundings\n\nAdvance Refundings after Mid-1965\n\n\n\n\nThe Two Worlds of Treasury Finance\n\nAn Experiment in Auctioning Bonds\n\n\n\n\nChapter 21: Monetary Policy in the 1960s\n\n1961 to 1965\n1966\n\nThe August Money Panic\n\n\n\n\nChapter 22: Repurchase Agreements in the 1960s\n\nSystem Access to Repo Collateral\n\nRelaxing the Two-Year Maturity Limit\nEliminating the Two-Year Maturity Limit and Permitting Back-to-Back Repos\nSystem Repos on Agency Collateral\n\n\nMatched Sale-Purchase Agreements\nAn Unsuccessful Effort to Introduce More Flexible Repo Pricing\n\n\n\n\nPart VII: Updating Market Infrastructures: The Joint Study\n\nChapter 23: The Association of Primary Dealers\n\nArrivals and Departures\nFederal Reserve and Treasury Thinking About a Dealer Association\nPrecipitating Events\nFormation of the Association of Primary Dealers\n\n\nChapter 24: Dealer Finance\n\nDealer Finance and the Role of Money Market Banks as Residual Lenders\nRecommendations of the Joint Study Steering Committee\nResponse of the Federal Open Market Committee\n\n\nChapter 25: The Government Securities Clearing Arrangement\n\nSettling Transactions in Treasury Securities Before 1965\n\nIntracity Settlements\nCPD Settlement\n\n\nOrigins of the Clearing Arrangement\nThe Pilot Program\nIntracity Transfers\nBalancing the Demands of Competing Settlement Systems\nRemarks\n\n\nChapter 26: Securities Lending\n\nThe Impetus for a Federal Reserve Securities Lending Program\nThe Joint Study Proposal\n\nThe Staff Study\nDiscussion by the Steering Committee\nThe FOMC Response\n\n\nThe 1969 Fails Crisis\nThe FOMC Revisits Securities Lending\nWhether to Lend Against Short Sales\n\n\nChapter 27: The Book-Entry System\, Part I\n\nOrigins of the Book-Entry System\nIssues in Creating a Book-Entry System\nThe First Implementation\nThe Second Implementation\nWhat Remained to be Done\n\n\n\n\n\n\n2026-08-25 — 2:00pm EDT\n\nIn our last of five sessions\, we discuss Parts 8 and 9 of After the Accord by Kenneth Garbade. \n\nPart VIII: The 1970s\n\nChapter 28: Treasury Debt Management in the 1970s\n\nMarketable Treasury Debt in the 1970s\n\nRegular Bills\nThirteen- and Twenty-Six-Week Bills\nNine-Month Bills and One-Year Bills\nBill Strips\nIrregular Bills\nNotes and Bonds\nAverage Maturity\n\n\nThe Introduction of Treasury Note and Bond Auctions\n\nThe May 1970 Refunding\nThe First Auction\nSubsequent Auction Offerings of Notes and Bonds\nConsequences of Bond Auctions for Advance Refundings\nFine-Tuning the Auction Process\n\nA Failed Auction and the Advent of Yield Auctions\nThe End of Single-Price Auctions\n\n\nA Last Harrah for Fixed-Price Offerings\n\n\nThe Advent of Regular and Predictable Note and Bond Offerings\n\nThe Introduction of Two-Year Cycle Notes\nExtending Regular and Predictable Issuance to Intermediate-Term Notes\nMid-Quarter Refundings and Fifteen-Year Bonds\n\n\nA Recapitulation of Treasury Debt Management Innovations in the 1970s\n\n\nChapter 29: Monetary Policy in the 1970s\n\n1970-1971\n1972-1973\n1974-1979\nFluctuations in Autonomous Factors\n\nTreasury Deposits at Federal Reserve Banks\nFloat\nBank Borrowing at the Discount Window\n\n\nThe End (Sort of) of Even Keel\n\n\nChapter 30: Open Market Operations in the 1970s\n\nThe Operating Environment\n\nTreasury Cash Management\n\n\nThe Continuing Problem with Liquidity\n\nCompetitive Repo Pricing\nSystem Repos with Bank Dealers\nAnother Way Around the Barn\n\n\nOutright Transactions in Federal Agency Debt\n\nReconsideration\nSubsequent Events\n\n\n\n\n\n\nPart IX: Infrastructure in the 1970s\n\nChapter 31: The Secondary Market in the 1970s\n\nPrimary Dealers\nThe Interdealer Broker Market\n\nManaging the Risks of Blind Brokerage\nSeparating Reporting Dealer Status from Primary Dealer Status\n\n\nThe Rise of Screen Brokers\n\n\nChapter 32: The Book-Entry System\, Part II\n\nThe Insurance Crisis\nExpansion of the Book-Entry System\nConfronting the Limits of Technology\nThe End of the GSCA and the End of Definitive Securities\n\n\nChapter 33: Coda\n\nInitial Actions\n\nThe 1953 Operating Principles\nEven Keeling\n\n\nA Metaphor for Change\nTreasury Debt Management\n\nAuctions of Coupon-Bearing Debt\n\n\nOpen Market Operations\nFailed and Supplanted Initiatives\nInter-Agency Accommodations\n\nOperation Twist\nTreasury Cash Management\nCash Management Bills\n\n\nMarket Infrastructure\n\nGovernment Securities Clearing Arrangement\nBook-Entry II\nSecurities Lending\nThe Association of Primary Dealers in US Government Securities\n\n\nRecapitulation\n\n\nChapter 34: After 1979\n\nTreasury Debt Management\n\nNew Securities\nAuction Innovations\n\n\nMarket Infrastructure\n\nDrysdale\nESM and Bevill\, Bresler\nThe Government Securities Clearing Corporation\nAccess to the Interdealer Broker Market\n\n\n\n\n\n\n\n\nFuture Suggested Readings\n\n\nHow a Ledger Became a Central Bank: A Monetary History of the Bank of Amsterdam by Quinn and Roberds (2023)\nThe Almighty Dollar: 500 Years of the World’s Most Powerful Money by Brendan Greeley (2026)\nWell Worth Saving: How the New Deal Safeguarded Home Ownership by Fishback\, Rose\, and Snowden (2013)\nSlapped by the Invisible Hand: The Panic of 2007 by Gary Gorton (2010)\nThe House of Morgan by Ron Chernow (1990)\nA Study of Money Flows in the United States by Morris Copeland (1952)\nA History of the Greenbacks by Wesley Clair Mitchell (1903)\nCalming the Storms: The Carry Trade\, the Banking School and British Financial Crises Since 1825 by Charles Read (2023)\nBenjamin Strong: Central Banker by Lester V. Chandler (1958)\nAn Engine\, Not a Camera: How Financial Models Shape Markets by Donald MacKenzie (2007)\nCurrency and Credit (4e) by Ralph Hawtrey (1950)\nThe Golden Age of the Quantity Theory by David Laidler (1991)\nCapitalizing on Crisis: The Political Origins of the Rise of Finance by Greta Krippner (2011)\nThe Federal Reserve System by Paul Warburg (1930)\nCentral Bank Capitalism: Monetary Policy in Times of Crisis by Joscha Wullweber (2024)\nIntroduction to Central Banking by Ulrich Bindseil and Alessio Fota (2021)\nThe Chairman: John J. McCloy & The Making of the American Establishment by Kai Bird (1992)\nManias\, Panics\, and Crashes (8e) by Robert McCauley (2023)\nThe Bailout State: Why Governments Rescue Banks\, Not People by Martijn Konings (2025)\n\n\nPast Readings with Discussion Recordings\n\n\nMinsky by Daniel H. Neilson (2019)\n2021-03-24 — Discussion Session 1\n2021-03-31 — Discussion Session 2\n2021-04-07 — Discussion with Daniel Neilson\nThe Art of Central Banking (Chapter IV) by Ralph Hawtrey (1933)\n2021-04-21 — Discussion Session 1\n2021-05-05 — Discussion Session 2\n2021-05-26 — Discussion with David Glasner\nMaking Money: Coin\, Currency\, and the Coming of Capitalism by Christine Desan (2014)\n2021-06-02 — Discussion Session 1\n2021-06-16 — Discussion Session 2\n2021-06-30 — Discussion Session 3\n2021-07-14 — Discussion with Christine Desan\nMoney in a Theory of Finance by John G. Gurley\, Edward S. Shaw (1960)\n2021-07-21 — Discussion Session 1\n2021-08-04 — Discussion Session 2\n2021-08-18 — Discussion Session 3\nThe World in Depression\, 1929-1939 by Charles P. Kindleberger (1973)\n2021-09-01 — Discussion Session 1\n2021-09-15 — Discussion Session 2\n2021-09-29 — Discussion Session 3\nThe Rise of Carry by Jamie Lee et al (2019)\n2021-10-13 — Discussion Session 1\n2021-10-27 — Discussion Session 2\nThe Money Interest and the Public Interest by Perry Mehrling (1998)\n2021-11-10 — Discussion Session 1 | Allyn Young\n2021-11-24 — Discussion Session 2 | Alvin Hanson\n2021-12-08 — Discussion Session 3 | Edward Shaw\nControlling Credit by Eric Monnet (2018)\n2022-01-05 — Discussion Session 1\n2022-01-19 — Discussion Session 2\nThe Menace of Fiscal QE by George Selgin (2020)\n2022-02-02 — Discussion Session\nThe New Lombard Street by Perry Mehrling (2011)\n2022-02-23 — Discussion Session 1\n2022-03-09 — Discussion Session 2\n2022-03-23 — Discussion Session 3\nFighting Financial Crises: Learning from the Past by Gary Gorton\, Ellis Tallman (2021)\n2022-04-20 — Discussion Session 1\n2022-05-11 — Discussion Session 2\nMoney and empire: The international gold standard\, 1890-1914 by Marcello De Cecco (1974)\n2022-05-25 — Discussion Session 1\n2022-06-15 — Discussion Session 2\nCentral Bank Cooperation 1924-31 by Stephen Clarke (1967)\n2022-06-22 — Discussion Session 1\n2022-07-06 — Discussion Session 2\nThe Money Problem: Rethinking Financial Regulation by Morgan Ricks (2016)\n2022-07-27 — Discussion Session 1\n2022-08-10 — Discussion Session 2\n2022-08-17 — Discussion with Morgan Ricks\nThe Evolution of Central Banking: Theory and History by Stefano Ugolini (2017)\n2022-08-24 — Discussion Session 1\n2022-09-07 — Discussion Session 2\n2022-09-21 — Discussion Session 3\n2022-10-05 — Discussion with Stefano Ugolini\nA Financial History of Western Europe by Charles P. Kindleberger (1984\, 1993)\n2022-10-19 — Discussion Session 1 | Part 1: Money\n2022-11-02 — Discussion Session 2 | Part 2: Banking\n2022-11-16 — Discussion Session 3 | Part 3: Finance\n2023-01-11 — Discussion Session 4 | Part 4: The Interwar Period\n2023-01-18 — Discussion Session 5 | Part 5: After World War II\nMoney and Empire: Charles P. Kindleberger and the Dollar System by Perry Mehrling (2022)\n2022-11-30 — Discussion Session 1 | Part 1: Intellectual Formation\, 1910–1948\n2022-12-14 — Discussion Session 2 | Part 2: International Economist\, 1948–1976\n2022-12-21 — Discussion Session 3 | Part 3: Historical Economist\, 1976–2003\n2022-12-21 — Discussion #1 with Perry Mehrling\n2023-01-04 — Discussion #2 with Perry Mehrling\nBonds without Borders: A History of the Eurobond Market by Chris O’Malley (2015)\n2023-02-15 — Discussion Session 1\n2023-03-01 — Discussion Session 2\nMonetary Policy Operations and the Financial System by Ulrich Bindseil (2014)\n2023-03-15 — Discussion Session 1 (Ch 1-8)\n2023-03-29 — Discussion Session 2 (Ch 9-12)\n2023-04-12 — Discussion Session 3 (Ch 13-18)\nCapital Wars: The Rise of Global Liquidity by Michael J. Howell (2020)\n2023-04-26 — Discussion Session 1 (Ch 1-7)\n2023-05-10 — Discussion Session 2 (Ch 8-14)\nA Market Theory of Money by John Hicks (1989)\n2023-05-24 — Discussion Session 1 (Ch 1-7)\n2023-06-07 — Discussion Session 2 (Ch 8-15)\nThe Currency of Politics: The Political Theory of Money from Aristotle to Keynes by Stefan Eich (2022)\n2023-06-28 — Discussion Session 1 (Ch 1 & 2)\n2023-07-19 — Discussion Session 2 (Ch 3 & 4)\n2023-08-02 — Discussion Session 3 (Ch 5 & 6)\n2023-08-14 — Discussion with Stefan Eich\nFischer Black and the Revolutionary Idea of Finance by Perry Mehrling (2005)\n2023-08-22 — Discussion Session 1 (Ch 1–5)\n2023-09-05 — Discussion Session 2 (Ch 6–8)\n2023-09-19 — Discussion Session 3 (Ch 9–11)\n2023-09-26 — Discussion with Perry Mehrling\nThe Evolution of Central Banks by Charles Goodhart (1988)\n2023-10-03 — Discussion Session 1 (Ch 1–6)\n2023-10-17 — Discussion Session 2 (Ch 7–8\, Appendix)\nThe Repo Market: Shorts\, Shortages\, and Squeezes by Scott Skyrm (2023)\n2023-11-07 — Discussion Session 1 (pages 1–92)\n2023-11-21 — Discussion Session 2 (pages 93–186)\n2023-12-05 — Discussion Session 3 (pages 187–310) Part 1 — Part 2\n2023-12-12 — Discussion with Scott Skyrm From 39:20\nThe Volatility Machine: Emerging Economies and the Threat of Financial Collapse by Michael Pettis (2001)\n2023-12-19 — Discussion Session 1 (Ch 1–5)\n2024-01-02 — Discussion Session 2 (Ch 6–10)\n2024-01-09 — Discussion with Michael Pettis\nInternational Capital Movements by Charles P. Kindleberger (1987)\n2024-01-16 — Discussion Session 1 (Ch 1 & 2)\n2024-01-30 — Discussion Session 2 (Ch 3 & 4)\nA Political Theory of Money by Anush Kapadia (2024)\n2024-02-20 — Discussion Session 1 (Ch 1–4)\n2024-03-05 — Discussion Session 2 (Ch 5–7)\n2024-03-19 — Discussion Session 3 (Ch 8–12)\n2024-03-26 — Discussion with Anush Kapadia\nThe Rise of Central Banks: State Power in Financial Capitalism by Leon Wansleben (2023)\n2024-04-02 — Discussion Session 1 (Ch 1–3)\n2024-04-23 — Discussion Session 2 (Ch 4–6)\n2024-05-07 — Discussion with Leon Wansleben\nThe Money Illusion: Market Monetarism\, the Great Recession\, and the Future of Monetary Policy by Scott Sumner (2021)\n2024-05-14 — Discussion Session 1 (Parts 1 & 2)\n2024-05-28 — Discussion Session 2 (Parts 3 & 4)\n2024-06-18 — Discussion Session 3 (Parts 5 & 6)\n2024-06-25 — Discussion with Scott Sumner\nPrivate Money and Public Currencies: The Sixteenth Century Challenge: The Sixteenth Century Challenge by Boyer-Xambeu\, Deleplace\, and Gillard (1994)\n2024-07-02 — Discussion Session 1 (Ch 1–3)\n2024-07-16 — Discussion Session 2 (Ch 4 & 5)\n2024-07-30 — Discussion Session 3 (Ch 6\, 7 & Conclusion)\nThe Arena of International Finance by Charles A. Coombs (1976)\n2024-08-13 — Discussion Session 1 (Ch 1ー6)\n2024-08-27 — Discussion Session 2 (Ch 7–12)\nThe Bill on London: or The Finance of Trade by Bills of Exchange by Gillett Brothers (1952/1976)\n2024-09-17 — Discussion Session\nBirth of a Market: The U.S. Treasury Securities Market from the Great War to the Great Depression by Kenneth D. Garbade (2012)\n2024-10-01 — Discussion Session 1 (Ch 1–10)\n2024-10-15 — Discussion Session 2 (Ch 11–15)\n2024-10-29 — Discussion Session 3 (Ch 16–24)\nA Monetary and Fiscal History of the United States\, 1961–2021 by Alan S. Blinder (2022)\n2024-11-12 — Discussion Session 1 (Ch 1–7)\n2024-11-26 — Discussion Session 2 (Ch 8–13)\n2024-12-10 — Discussion Session 3 (Ch 14–19)\nBuilding a Ruin: The Cold War Politics of Soviet Economic Reform by Yakov Feygin (2024)\n2025-01-07 — Discussion Session 1 (Ch 1–3)\n2025-01-21 — Discussion Session 2 (Ch 4–6)\n2025-02-04 — Discussion Session 3 (Ch 7 & Afterword)\nA Crash Course on Crises: Macroeconomic Concepts for Run-Ups\, Collapses\, and Recoveries by Markus K. Brunnermeier and Ricardo Reis (2023)\n2025-02-25 — Discussion Session 1 (Parts 1 and 2)\n2025-03-11 — Discussion Session 2 (Parts 3 and 4)\nThe Empire of Value: A New Foundation for Economics by Andre Orlean (2014)\n2025-03-25 — Discussion Session 1 (Introduction and Part 1) Part 1 — Part 2\n2025-04-08 — Discussion Session 2 (Parts 2 and 3)\n2025-04-22 — Discussion Session 3 (Part 4 and Conclusion)\nThe Wheels of Commerce by Fernand Braudel (1979/1982)\n2025-05-06 — Discussion Session 1 (Chapter 1)\n2025-05-13 — Discussion Session 2 (Chapter 2)\n2025-05-20 — Discussion Session 3 (Chapter 3)\n2025-05-27 — Discussion Session 4 (Chapter 4)\n2025-06-03 — Discussion Session 5 (Chapter 5)\nBeyond Banks: Technology\, Regulation\, and the Future of Money by Dan Awrey (2024)\n2025-06-17 — Discussion Session 1 (Intro & Ch 1–3)\n2025-07-01 — Discussion Session 5 (Ch 4–7 & Conclusion)\n2025-07-08 — Discussion with Dan Awrey\nOur Dollar\, Your Problem: An Insider’s View of Seven Turbulent Decades of Global Finance by Kenneth Rogoff (2025)\n2025-08-19— Discussion Session 1 (Parts 1-3)\n2025-08-26 — Discussion Session 2 (Parts 4-6)\nCentral Banking Before 1800: A Rehabilitation by Ulrich Bindseil (2019)\n2025-09-01 — Discussion Session 1 (Ch 1&2)\n2025-09-15 — Discussion Session 2 (Ch 3–5)\n2025-09-29 — Discussion Session 3 (Ch 6&7)\n2025-10-13 — Discussion with Ulrich Bindseil\nThe Long Twentieth Century: Money\, Power and the Origins of Our Times by Giovanni Arrighi (2010)\n2025-10-20 — Discussion Session 1 (Ch 1&2)\n2025-11-03 — Discussion Session 2 (Ch 3)\n2025-11-10 — Discussion Session 3 (Ch 4)\nFragile by Design: The Political Origins of Banking Crises and Scarce Credit by Charles W. Calomiris and Stephen Haber (2014)\n2025-11-17 — Discussion Session 1 (Ch 1–5)\n2025-12-01 — Discussion Session 2 (Ch 6-9)\n2025-12-15 — Discussion Session 3 (Ch 10–15)\n2026-01-05 — Discussion with Charles Calomiris\nTreatise on Money by Joseph Schumpeter (1970/2014)\n2026-01-12 — Discussion Session 1 (Ch 1–3)\n2026-01-27 — Discussion Session 2 (Ch 4–7)\n2026-02-10 — Discussion Session 3 (Ch 8–10)\n2026-02-24 — Discussion Session 4 (Ch 11–12)\nBetween Payments and Credit: An Introduction to the IOU Economy by George Pantelopoulos (2025)\n2026-03-10 — Discussion Session 1 (Ch 1–5)\n2026-03-24 — Discussion Session 2 (Ch 6–10)\n2026-04-07 — Discussion Session 3 (Ch 11–13)\n2026-04-14 — Discussion with George Pantelopoulos\nAgainst Money by J. W. Mason and Arjun Jayadev (2026)\n2026-05-05 — Discussion Session 1 (ch 1–4)\n2026-05-12 — Discussion Session 2 (ch 5–7)\n2026-06-12 — Discussion with J.W. Mason\nOur Money: Monetary Policy as if Democracy Matters by Leah Downey (2025)\n2026-06-02 — Discussion Session 1 (Ch 1–3)\n2026-06-16 — Discussion Session 2 (Ch 4–8)\nThe History of Money: A Story of Humanity by David McWilliams (2024)\n2026-06-23 — Discussion Session 1 (Parts 1 & 2)\n2026-07-07 — Discussion Session 2 (Parts 3–5)\n\n\nOff-Week Sessions\n\n2021-05-19 BIS Working Paper: Breaking free of the triple coincidence in international finance (2015)\n2021-07-07 Global Domain of the Dollar: 8 Questions by Robert McCauley Author Discussion\n2021-07-28 BIS and Bank of England reports on Central Bank Digital Currencies\n2022-09-28 The Crypto Banking System by Sébastien Derivaux (2022) Author Discussion\n2023-04-05 Discussion of Silicon Valley Bank\n2023-04-19 Institutional Cash Pools by Zoltan Pozsar (2011)\n2023-05-03 BIS Bulletin #73: Stablecoins vs. Tokenized Deposits (May 3\, 2023)\n2023-07-05 The Credit–Money Hierarchy: a Republican \, Egalitarian Appraisal by Aaron James (2023)\n2023-07-26 Public Purpose Finance: The Government’s Role as Lender by Nadav Orian Peer (2020) Author Discussion 2023-10-24 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 1\n2023-10-31 Money and the Public Debt by Lev Menand and Joshua Younger (2023) | 2\n2023-11-14 ICMA Repo FAQ by Richard Comotto (2013/2019)\n2023-11-28 Basis Trades and Treasury Market Illiquidity by Daniel Barth & Jay Kahn (2020)\n2024-01-23 Capital flows and the current account by Borio and Disyatat (2015)\n2024-02-13 The dual currency system of Renaissance Europe by Luca Fantacci (2008)\n2024-02-27 BIS: Buy now\, pay later: a cross-country analysis by Cornelli et al. (2023)\n2024-03-12 The non-use of money in the Middle Ages by Bell\, Brooks\, and Moore (2017)\n2024-04-09 The Central Role of Credit Crunches in Recent Financial History by Albert M. Wojnilower (1980)\n2024-04-16 Measuring Equilibrium in the Balance of Payments by Charles P. Kindleberger (1969)\n2024-04-30 The Rise and Risks of Private Credit — GFSR (April\, 2024)\n2024-06-04 BIS Working Paper No 1100: Getting up from the floor by Claudio Borio (May\, 2023)\n2024-06-11 The Offshore Dollar and US Policy by Robert McCauley (May\, 2024)\n2024-07-09 The (impossible) repo trinity: the political economy of repo markets by Daniela Gabor (2016)\n2024-08-07 A Safe Haven for Hidden Risks (May 30\, 2024) and Rate Transformation (November 4\, 2023) by Elham Saeidinezhad\n2024-08-20 The Collateral Supply Effect on Central Bank Policy by Carolyn Sissoko (2020)\n2024-09-10 Monetary Policy Implications of Market Maker of Last Resort Operations by Anil K Kashyap (August 23\, 2024)\n2024-11-05 BIS Bulletin No 90: The market turbulence and carry trade unwind of August 2024 (August 27\, 2024)\n2024-11-19 Yen Carry Trade and the Subprime Crisis by Masazumi Hattori and Hyun Song Shin (2009)\n2024-12-03 After the Allocation: What Role for the Special Drawing Rights System? by Pforr\, Pape\, and Murau (2022)\n2025-01-14 Where Profits Come From by the Levy Forecasting Center by Levy\, Farnham\, & Rajan (2008/1997)\n2025-01-28 The Broad Consequences of Narrow Banking by Matheus R. Grasseli and Alexander Lipton (2019)\n2025-02-11 Failing Banks by Sergio Correia\, Stephen Luck\, and Emil Verner (2024)\n2025-02-18 Odd Lots — The Hidden History of Eurodollars by Lev Menand and Joshua Younger (January 2025)\n2025-03-04 Of Last Resort: Evaluating the Treasury-Equity Model of Federal Reserve Emergency Lending by Steven Kelly (2024)\n2025-03-18 Commercial Banking and Capital Formation I–IV by Harold Moulton (1918)\n2025-04-01 Climate Alignment For Banks: The Stories That Numbers Tell by Nadav Orian Peer (2025) Author Discussion\n2025-04-15 Shadow Banking: Why Modern Money Markets are Less Stable Than 19th c. Money Markets But Shouldn’t Be Stabilized by a ‘Dealer of Last Resort’ by Carolyn Sissoko (2014)\n2025-04-29 Treasury Market and the Basis Trade (Adrian et al. 2025; Kashyap et al. 2025)\n2025-06-10 Structural Changes in the Global Financial System lecture by Hyun Song Shin (May 19\, 2025)\n2025-06-24 International Regimes\, Transactions\, and Change: Embedded Liberalism in the Postwar Economic Order by John Gerard Ruggie (1982)\n2025-07-15 BIS Annual Report Chapter: Financial conditions in a changing global financial system (2025)\n2025-07-22 Banks Are Intermediaries of Loanable Funds by George Selgin (2024)\n2025-07-29 Theorising non-bank financial intermediation by Jo Michell (2024)\n2025-08-05 Banks are different: why bank-based versus market-based lending is a false dichotomy by Carolyn Sissoko (2024)\n2025-09-08 Did France Cause the Great Depression? by Douglas A. Irwin (2010)\n2025-09-22 Rethinking Monetary Sovereignty: The Global Credit Money System and the State by Murau and van’t Klooster (2023)\n2025-10-06 Rethinking currency internationalisation: offshore money creation and the EU’s monetary governance by Murau and van’t Klooster (2025)\n2025-10-27 BIS Bulletin No 114: “Financial channel implications of a weaker dollar for emerging market economies” by Juselius\, Wooldridge and Xia (October 13\, 2025)\n2025-11-24 Bubble or Nothing: Data Center Project Finance by Advait Arun (November 12\, 2025)\n2025-12-08 Discussion of Debate over Whether Money Multiplier Requires Cash Lending\n2026-01-20 Gresham’s Law by Charles P. Kindleberger (1989)\n2026-02-03 The Law of One Price by Charles P. Kindleberger (1989)\n2026-02-17 Bank Runs With and Without Bank Failures by Correia\, Luck\, and Verner (2026)\n2026-03-03 Monetary Experience and the Theory of Money by John Hicks (1977)\n2026-03-31 What Is Money (1913) and The Credit Theory of Money (1914) by A. Mitchell-Innes\n2026-04-21 Covered interest parity lost: understanding the cross-currency basis by Borio et al. (2016)\n2026-04-28 Decoupling Dollar and Treasury Privilege by Du\, Keerati\, and Schreger (2025)\n2026-06-30 FEDS Note: Decomposing Hedge Funds’ U.S. Treasury Exposures by Phillip J. Monin (June 22\, 2026)\n2026-07-14 The Chicago Plan Revisited by Benes and Kumhof (2012)
URL:https://heske.wisdmlabs.net/event/money-view-reading-group/2026-10-27/
CATEGORIES:A series of zooms
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BEGIN:VEVENT
DTSTART;TZID=Africa/Johannesburg:20261028T080000
DTEND;TZID=Africa/Johannesburg:20261030T170000
DTSTAMP:20260108T110941Z
CREATED:20251125T172912Z
LAST-MODIFIED:20260108T110941Z
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SUMMARY:Contours Of Conflict in Africa: Economics and the Contradictions of Liberation in Southern and Central Africa
DESCRIPTION:Conflict has been central in the long and chequered history of state-making in Africa. The creation of artificial borders\, new monetary regimes and trade patterns from the 1500s occurred not without conflict and resistance amongst and between various population groups. The colonial plunder of African resources and relegation of Africans to the margins of the capitalist economy\, as well as making Africans providers of menial\, indentured/slave/unpaid/underpaid labour\, also caused conflict. The ensuing liberation wars arising from such colonial domination and change ignited fierce resistance from colonial powers. To this day\, decolonisation has existed in name as Africans continue to contend with the enduring legacies of colonial rule. Roaring among such legacies are conflicts of scarcity and inequality manifest on two parallel planes. Neocolonialism has reared its head as African countries chase economic development\, and resource distribution in regional and international institutions remains uneven\, causing enduring silent conflicts. In the case of countries in West Africa\, for example\, neocolonialism has not been silent at all\, with the blatant involvement of countries of the North in violent resource conflicts and civil wars. On a second plane is an equally dangerous legacy borne of the othering by liberation movements. A legacy that alienates the masses to create room for the supposed liberation war heroes to eat from the feeding trough. It has manifested in ethnic tensions\, authoritarian regimes\, civil and transnational wars\, and conflicts over natural resources and land. The threat to global peace due to the cyclical pattern of varied forms of scarcity and inequality breeding conflict and conflict breeding lack\, societal and moral decay\, vulnerability of mainly women and children has caused widespread intervention from international [e.g. United Nations (UN) and European Union (EU)] and regional organisations [e.g. African Union(AU)\, Economic Community of West African States (ECOWAS)\, and Southern African Development Community (SADC)] aimed at conflict resolution\, with varying degrees of success. To decipher the contours of conflict that have influenced African history and reshaped historical narratives\, the International Studies group of the University of the Free State and the Young Scholars Initiative will host a history bootcamp in Bloemfontein\, South Africa\, from 28 to 30 October 2026. The boot camp proposes relooking at African conflicts as\, among other things\, extensions and manifestations of local and international dominance\, expressions of scarcity\, subaltern voices\, and quests for emancipation. \nWe therefore invite abstracts on the subjects listed below. However\, papers tackling interesting aspects of conflict with a particular focus on Southern and Central Africa will be welcomed.\n1. War and economic change\n2. Trade and conflict\n3. Natural resource conflict\,\n4. Conflicts arising from land and agrarian reform\n5. Regional and international organisations in African conflicts\n6. Transnational conflicts/Conflicts between states\n7. War and military technology in Africa\n8. Forced displacements\n9. Women and Children in Conflict Situations\n10. Peacekeeping\, peacebuilding and conflict resolution\n11. Personalities in African conflicts \nUpon selection of abstracts\, participants will be required to send complete draft papers following the style of the Southern Journal of Contemporary History. Final selection for attendance at the Bootcamp will be based on the quality of the draft papers. Successful papers will be published in a special issue of the Southern Journal of Contemporary History with Dr Mutale Tinamou Mazimba and Dr Geraldine Sibanda as guest editors. Successful articles and additional contributions will also be featured in an edited volume.\nEarly career scholars are PhD candidates and postdoctoral fellows with less than two publications in peer-reviewed academic journals. Participation in the Bootcamps is open to non-historians\, provided that the proposed paper addresses the general theme of the Bootcamp and reflects historical methods. Participants must be based in institutions on the African continent. Limited funding is available for travel and accommodation.\nDeadline for Abstract Submission: 15 May 2026\nSubmission of selected Draft papers: 30 June 2026\nFinal selection: 30 July 2026 \nFor questions\, contact isgbootcamp3@gmail.com. \n 
URL:https://heske.wisdmlabs.net/event/contours-of-conflict-in-africa-economics-and-the-contradictions-of-liberation-in-southern-and-central-africa/
LOCATION:University of the Free State\, Centenary Complex\, 201 Nelson Mandela Drive\, Bloemfontein\, Free State\, 9301\, South Africa
CATEGORIES:An in-person event
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