Simon Schairer @simon_shyra
PhD research fellow @BMBF SuFi Project @UniWH. @pluralecon. Into critical macro-finance, shadow banking, sustainable finance, monetary policy and theory. University Witten/Herdecke Joined July 2014-
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New ECB research shows that core inflation in the €zone was largely driven by supply-side shocks: “global supply chain shocks, gas price shocks and oil price shocks all pushed inflation in the same direction… bad luck“ - domestic demand of little importance!
Out! In @RIPEJournal A defense of monetary financing against the dysfunctional monetarist taboo, showing its benign but crucial function. And documenting how the @ecb's brief reluctance to monetize debt in 2009 would have catastrophic effects A 🧵 /1 tandfonline.com/doi/full/10.10…
🚨 New & Open Access: – How to finance a sustainable transformation globally? @JWullweber , @nicolasaaguila and me 💰propose: The ecor as global special purpose money 🛑 bc any answer must counter the international monetary hierarchy a short 🧵👇 rb.gy/yuxbmy
Many have argued that increasing interest rates was the wrong policy to tackle inflation. In our recent paper, @JWullweber and I show that rate hikes disproportionally affect green investments, thus worsening the environmental sources of inflation. link.springer.com/article/10.100…
There's consensus that current German fiscal measures are insufficient to achieve a just green transition. A green fiscal stimulus would be killing two birds with one stone - climate crisis and economic stagnation! Please sign: weact.campact.de/petitions/geld…
Very happy to have this paper out with @nicolasaaguila on “Legitimising green monetary policies” with @jepp_journal and open access! @nicolasaaguila tandfonline.com/doi/full/10.10…
Far right Alternative for Germany #2 in the polls ahead of all three governing parties. This should be a wake-up call. For economic policy this means: Ending austerity, ending the decline in living standards of the many, starting an ambitious public investment agenda.
I am so much looking forward to our discussions on #crisiscapitalism!!! Organizing it would not have been possible without my great team: Teresa Jakovlev @nicolasaaguila @pau_lalu @Hadryolix @fichtner_jan @baioni_riccardo @JaninaUrban @UniWH and support by @VolkswagenSt
I am so much looking forward to our discussions on #crisiscapitalism!!! Organizing it would not have been possible without my great team: Teresa Jakovlev @nicolasaaguila @pau_lalu @Hadryolix @fichtner_jan @baioni_riccardo @JaninaUrban @UniWH and support by @VolkswagenSt
Very happy to see this one finally published! 🥳🥳🥳 Check out our new paper contributing to the debate on why ESG doesn’t work 😕
Very happy to see this one finally published! 🥳🥳🥳 Check out our new paper contributing to the debate on why ESG doesn’t work 😕
8⃣ A second contribution is that we take a look ‘under the hood’ of ESG indices and classify the funds in our dataset into Broad ESG (no impact), Light Green (some impact) and Dark Green (impact). Broad ESG still dominates, hence there is a big ESG ‘capital allocation gap’.
7⃣ Index providers: Here we find a strong global dominance by MSCI with a whopping 56% market share (MSCI also dominates ESG ratings). This likely has enabled MSCI to de facto set the standards of what investors accept as ‘sustainable’ funds.
6⃣ Asset managers: We find a quite dispersed market structure. In the overall market (active and passive funds) BlackRock leads with 15% followed by Fidelity with 12% and Pictet with 8%. However, BlackRock dominates the still small segment of passive ESG funds with 45%.
2⃣ Many problems (still) plague ESG investing. An obvious one is that the estimates of how much assets are invested in ESG differ wildy. They range from ~$790bn to over $35,000bn! This huge discrepancy shows that there are no global standards yet.
1⃣ ESG has been growing rapidly - as a way of supposedly "sustainable" investing but also as a "discursive weapon" used by Republicans in the US against "woke capitalism" and decarbonization. See this @ForeignPolicy article by @adam_tooze foreignpolicy.com/2023/03/10/too…
🚨 new paper out in @RegGov_journal with R. Jaspert & @johannes_petry on #ESG Mind the ESG capital allocation gap: The role of index providers, standard-setting, and “green” indices for the creation of sustainability impact onlinelibrary.wiley.com/doi/10.1111/re… A 🧵on the main arguments:
🎧🎧🎧 Some of you have been asking for an audio book for a while. The time has come! You can now listen to How China Escaped Shock Therapy. Susan Ericksen has done a great job and I promise she doesn’t have a German accent!
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Friederike Reimer @rike_reimer
856 Followers 1K Following econ student @EPOG_EMJMD @pluralecon | macro-finance, balance sheets, climate stuff, the occasional east germany rant | tweets eng+ger | 🏳️🌈 | views my own
Riccardo Baioni @baioni_riccardo
196 Followers 843 Following Doctoral research assistant at @UniWH in the @BMBF_Bund project 'Global Finance and Sustainable Transformation'
Janina Urban @JaninaUrban
900 Followers 1K Following Working on central banking, financial markets and green transition at the Uni Witten-Herdecke. Views are my own. Politically active in organizing & labor issues
Tilmann Waffenschmidt @T_Waffenschmidt
1K Followers 2K Following Currently doing my Econ PhD in Heidelberg
Felix Struck @GatoStruck
345 Followers 2K Following Here for a sustainable planet and monetary policy. 🏳️🌈 Econ at @EPOG_EMJMD in Rome/ Paris, PPE at @UniWH Moving to @gatostruck.bsky.social
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4 Followers 59 Following
larskall @larskall1
32 Followers 328 Following
Christopher Olk @christopher_olk
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Finance and Society N.. @FinSocNet
3K Followers 178 Following A cross-disciplinary research network dedicated to fostering new perspectives on the social implications of contemporary finance
Global Political Econ.. @GPEjournal
3K Followers 2K Following Editors in chief: Mònica Clua-Losada @DrCluaLosada & Phoebe V Moore @phoebemoore
SASE @SASE_Meeting
5K Followers 212 Following News from the Society for the Advancement of Socio-Economics (SASE) and our official journal Socio-Economic Review (SER) Next Meeting: 🇮🇪 #SASE2024
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2K Followers 82 Following Campaign adviser and mentor. Retired campaign manager with the Sunrise Project, Insure Our Future campaign, International Rivers and the Public Eye.
Karen P. Y. Lai @karenpylai
2K Followers 401 Following Associate Professor @geogdurham | Deputy Editor in Chief @financeandspace | money & finance | fintech | financial centres | Asia
Florence Dafe @florence_dafe
417 Followers 186 Following Political economist at the TUM School of Governance, researching finance and economic development
Milan Babic @mbabic_1
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4K Followers 3K Following International Political Economy | Econ prof at State University of New York | PhD Econ New School | Writing on geopolitics & the global dollar system.
Bruno Bonizzi @BBonizzi
2K Followers 1K Following Associate Professor at @UniOfHertsHBS. Born in Milan, lives in London. Pension funds, emerging economies, capital flows and financialisation.
Kardelen Günaydin @K.. @KrdGun
630 Followers 2K Following PhD at Uni Osnabrück. Into greening central banks, social-ecological transformation, and cheese platters. Tweets in EN, DEU, and TUR she / her
Willi Semmler @WilliSemmler
362 Followers 39 Following Willi Semmler is a professor of Macroeconomics at the New School for Social Research in New York. His research interests are global warming and financial econo
John Hogan Morris @JohnhoganMorris
2K Followers 3K Following Economic geographer 🗺 💰 @UoNGeography & @PulaskiIn. Central banking, risk management & climate finance. Co-author (Mis)managing Macroprudential Expectations👇
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Charlotte Rommerskirc.. @charomki
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Fabian Pape @fpape_
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379 Followers 297 Following Political, financial and legal security, safe assets, money. Senior Fellow @CAPASHeidelberg. Visiting Fellow @MPILheidelberg. Co-editor of @finandsoc
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442 Followers 68 Following Prof. Dr. Christoph Scherrer is Professor for Globalization & Politics at the University of Kassel, and Director @ICDDNetwork #DecentWork. Tweets by his team.
Ann Pettifor @AnnPettifor
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900 Followers 1K Following Working on central banking, financial markets and green transition at the Uni Witten-Herdecke. Views are my own. Politically active in organizing & labor issues[Some info for this came from @simonfmee's excellent "Central Bank Independence and the Legacy of the German Past". But most came from the BoE's Unpublished War History: bankofengland.co.uk/archive/bank-o…)
Finally, at the Bretton Woods Conference in July 1944, the recommendation was made that the BiS should be “liquidated at the earliest possible moment”. It wasn't. 26/End
By 1943 the US had become very hostile to the BiS. A member of the US Treasury claimed to the press that the BiS was German-controlled, adding that “an American president is doing business with the Germans while our boys are fighting Germans”. His name: Harry Dexter White. 26/
When French Bank Governor called Norman suggesting a joint protest against BiS president Johan Beyen, Norman played the CBI card: “it would be wrong and dangerous for the future of the BiS … to attempt for political reasons to influence the decisions of the president.” 20/
On the one hand, the BoE was one of the banks that had a banker-customer relationship to the BiS. On the other, the relationship was deeper: the nominated Director of the BiS at the time was Otto Niemeyer, who also happened to be the executive director of the BoE. 17/
A few days later, on March 21st, the chief cashier of the Bank of England (BoE) received an unusual request from the Bank of International Settlements (BiS): he was asked to transfer £5.6 million in gold from the No. 2 account to the No. 17 account. 16/
It was at that precise moment that one of the most persistent mythologies of postwar Germany was born. Namely that sound finance equals anti-Nazism. According to his lawyer, Schacht was a “martyr to the ideals of a sound currency”. 14/
A thread about a crazy (and indicative) WW2 story on central banking, the Reichsbank, the BiS, BoE's Norman, CBI and some guest stars (no, its not about the 1939 memorandum). 1/
Eine sehr gute Erklärung von Staatsausgaben, Schuldenbremse und Makroökonomik: zdf.de/comedy/die-ans…
@reijerhendrikse Probably a stupid question, but has there been also a non-commercial capitalism?
New ECB research shows that core inflation in the €zone was largely driven by supply-side shocks: “global supply chain shocks, gas price shocks and oil price shocks all pushed inflation in the same direction… bad luck“ - domestic demand of little importance!
Out! In @RIPEJournal A defense of monetary financing against the dysfunctional monetarist taboo, showing its benign but crucial function. And documenting how the @ecb's brief reluctance to monetize debt in 2009 would have catastrophic effects A 🧵 /1 tandfonline.com/doi/full/10.10…
Heute morgen habe ich knapp 30 Strafanzeigen erstattet, alles gegen Hass & Hetze auf X. Das ist ein Bruchteil der offenen Verfahren. Man kann sich wehren gegen das, was hier passiert, man weiß auch, es wirkt. Es ist nur unmöglich damit ernsthaft hinterher zu kommen. #HateSpeech
How to steer #SustainableFinance effectively? ⏰22.3.24, 11:00-12:30 📍 Online-Webinar mit 🔸@F_Kern_IOEW @ioew_de 🔹@JWullweber @simon_shyra @uniwitten 🔸Silke Stremlau, Sustainable-Finance-Beirat der BuReg hosted by: VfU e.V. sfcp-network.de/veranstaltunge… gefördert von @BMBF_Bund
🚨 New & Open Access: – How to finance a sustainable transformation globally? @JWullweber , @nicolasaaguila and me 💰propose: The ecor as global special purpose money 🛑 bc any answer must counter the international monetary hierarchy a short 🧵👇 rb.gy/yuxbmy
@pau_lalu @nicolasaaguila @JWullweber You should have been in Helsinki last weekend... when a group of economists - including Eric Helleiner, Massimo Amato, Lucio Gobbi, Jan Kregel yourself truly & convened by Heikki Potomaki and his excellent group of doctorate students- met to discuss the ICU...
Many have argued that increasing interest rates was the wrong policy to tackle inflation. In our recent paper, @JWullweber and I show that rate hikes disproportionally affect green investments, thus worsening the environmental sources of inflation. link.springer.com/article/10.100…
🎙️ Starting with Stefano Sgambati (City) on "𝑀𝑎𝑘𝑖𝑛𝑔 𝑚𝑜𝑛𝑒𝑦 𝑓𝑜𝑟 𝑎𝑏𝑠𝑒𝑛𝑡𝑒𝑒 𝑑𝑒𝑏𝑡𝑜𝑟𝑠. 𝐵𝑖𝑔 𝑏𝑎𝑛𝑘𝑠, ℎ𝑒𝑑𝑔𝑒 𝑓𝑢𝑛𝑑𝑠 𝑎𝑛𝑑 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑠𝑒𝑐𝑡𝑜𝑟 𝑙𝑒𝑣𝑒𝑟𝑎𝑔𝑒". Discussant: @MassimoAmato9 (Bocconi). 4/8
3/3 We argue that what we are witnessing is a new form of market liberalism adapted to #ClimateCrisis, or #marketliberalism in climate crisis mode. @nicolasaaguila
2/3 We show that there is a shift from the #centralbank's duties to maintain #financialstability to its responsibilities regarding #pricestability under the #primarymandate that could lead to far-reaching #green #monetarypolicies @nicolasaaguila
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