In light of the pickup of inflation at the end of 2021 and monetary policy shifts by the world's major central banks, this book examines interrelated issues in the normalization of monetary policy. It covers topics including the role of technological innovations such as derivatives and cryptocurrencies in monetary and financial management, the role of monetary policy in financial crises (especially public debt), and the major repricing needed for central banks and the global economy. In addition, the book discusses the problem of how flexible money should be and the importance of predictive tools for these decisions, with attention to the advances of languages for scientific research, including those on the workings of the economy. The work addresses the geopolitical and social challenges that have arisen as a result of the invasiveness of monetary policy in its various manifestations in the context of major leading currencies. It is aimed at scholars and students of monetary and financial economics.

Presents how monetary economics has changed due to financial crises and the introduction of AI Highlights technological innovations such as derivatives and cryptocurrencies in financial management Discusses the role of monetary policy in financial crises

Autorentext

Paolo Savona is the founder of the first chair of Geopolitical economics. He was trained at the Research Department of the Bank of Italy, is a professor emeritus of Economic Policy and an author of numerous writings on real, monetary, and financial economics. He is currently the chairman of Consob (the authority responsible for regulating Italian financial markets). He has twice served as a minister in the Italian government.

Rainer S. Masera is the Dean of the Faculty of Economics and a professor of Economic Policy at the Guglielmo Marconi University of Rome, Italy. He serves as the minister of the budget and economic planning in the Italian government. He has published numerous monographic works and essays on the subject of financial innovation, risk control, and economic policy, in Italian and foreign magazines.

Klappentext

In light of the pickup of inflation at the end of 2021 and monetary policy shifts by the world's major central banks, this book examines interrelated issues in the normalization of monetary policy. It covers topics including the role of technological innovations such as derivatives and cryptocurrencies in monetary and financial management, the role of monetary policy in financial crises (especially public debt), and the major repricing needed for central banks and the global economy. In addition, the book discusses the problem of how flexible money should be and the importance of predictive tools for these decisions, with attention to the advances of languages for scientific research, including those on the workings of the economy. The work addresses the geopolitical and social challenges that have arisen as a result of the invasiveness of monetary policy in its various manifestations in the context of major leading currencies. It is aimed at scholars and students of monetary and financial economics.

Inhalt
Chapter 1. Introduction (Paolo Savona).- Chapter 2. Economics and money: political and epistemological perspectives of connecting and fault lines. A fil rouge from Keynes to digitization (Rainer Stefano Masera).- Chapter 3. The Great Repricing: Central Banks and the World Economy (Mervyn Allister King).- Chapter 4. How Elastic Money Should Be: Flexible Monetary Policy Rules from the Great Moderation to the New Normal Times (1993-2023) (Donato Masciandaro).- Chapter 5. The universal language of economics: où-logòs or éu-logòs (Monika Poettinger).- Chapter 6. Predictive methods in economics: the link between Econophysics and Artificial Intelligence (Antonio Simeone).- Chapter 7. The adoption of digital euro and perspective (Francesco Capriglione).- Chapter 8. The karst phenomena of the law in action (Marco Rossi).- Chapter 9. Technological innovations: A new Model of Geopolitical Digital relations: from Welfare to Warfare? (Fabio Vanorio).- Chapter 10. Concluding remarks. Is it possible to return to a "normalization" of monetary policy? (Jan Allen Kregel).