Will Bateman is Associate Professor and Associate Dean (Research) at the Australian National University College of Law. His research studies law, finance and economics with a particular focus on sovereign debt, monetary authorities and wholesale financial markets.

May 27, 2023

Analysis

Pecuniary Salvation

Monetary financing at the Bank of England, the Federal Reserve, and the European Central Bank

, Jens van 't Klooster

Monetary financing—the issuance of public money to support public expenditure—has in recent times become a policy taboo. The message from economists to politicians, policymakers, and society more broadly is often that any central bank support for public expenditure is likely to destroy…