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1. Money and Banking Today

The first part of the conference will examine current monetary system in the digital age. Which challenges does digitalization pose to money, banking and monetary policy?

Will physical cash disappear, central banks stop issuing money, and a few big private banks take over? Or will the old banks be outperformed by new innovative companies and cryptocurrencies?

Are there any serious problems with the current development and the current money system which need innovative ideas and actions? Should central banks start developing new tools such as Central Bank issued Digital Cash (CDBD)?

1. Money and Banking Today

2. Central Bank Digital Cash

Second part of the conference will discuss how central banks should respond to the digital development.

The Swedish central bank and the Bank of England do research on whether they should start issuing Central Bank Digital Cash (CBDC) and compete with bank credit as a means of payment.

Which consequences would a CBDC have for monetary policy, housing markets, inequality and central bank's possibilities to handle financial crises? Which are the drawbacks and benefits of a CBDC such as Riksbankens proposal for an e-krona?

2. Central Bank Digital Cash

3. The Future

Would a CBDC such as the e-krona be enough to handle the problems of the current money system? Would a CBDC cause new problems? Is it possible to introduce a CBDC without further reforms? What are the drawbacks and benefits of further reforms beyond a CBDC?

What would happen in the long run if the Riksbank chose to introduce a CBDC? Will the e-krona become a marginalized unnecessary means of payment, or would it take over the payment market, put an end to private money creation and fractional reserve banking?

3. The Future

Speakers

This is a list of our confirmed speakers. More speakers will come.

Steve KeenProfessor of Economics, Kingston University London

Steve Keen was one of the handful of economists to realize that a serious economic crisis was imminent, and to publicly warn of it from as early as December 2005. His pioneering work on modeling debt-deflation, resulted in him winning the Revere Award from the Real World Economics Review for being the economist whose work is most likely to prevent a future financial crisis. His book Debunking Economics is a classic exposition of why Neoclassical economic theory is not only wrong, but more of a threat to the survival of capitalism than any number of left-wing revolutionaries.

Steve is Professor of Economics at the Kingston University London. He has over 70 academic publications on topics as diverse as financial instability, the money creation process, mathematical flaws in the conventional model of supply and demand, flaws in Marxian economics, the application of physics to economics, Islamic finance, and the role of chaos and complexity theory in economics. His work has been translated into Chinese, German and Russian.

His blog Steve Keen’s Debtwatch (http://www.debtdeflation.com/blogs) makes his non-orthodox approach to economics available to the public. The site has 11,000 subscribers and about 50,000 unique readers each month.

Steve KeenProfessor of Economics, Kingston University London

Steve Keen was one of the handful of economists to realize that a serious economic crisis was imminent, and to publicly warn of it from as early as December 2005. His pioneering work on modeling debt-deflation, resulted in him winning the Revere Award from the Real World Economics Review for being the economist whose work is most likely to prevent a future financial crisis. His book Debunking Economics is a classic exposition of why Neoclassical economic theory is not only wrong, but more of a threat to the survival of capitalism than any number of left-wing revolutionaries.

Steve is Professor of Economics at the Kingston University London. He has over 70 academic publications on topics as diverse as financial instability, the money creation process, mathematical flaws in the conventional model of supply and demand, flaws in Marxian economics, the application of physics to economics, Islamic finance, and the role of chaos and complexity theory in economics. His work has been translated into Chinese, German and Russian.

His blog Steve Keen’s Debtwatch (http://www.debtdeflation.com/blogs) makes his non-orthodox approach to economics available to the public. The site has 11,000 subscribers and about 50,000 unique readers each month.

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Michael KumhofSenior research advisor, Bank of England. Former economist at IMF.

Michael Kumhof is Senior Research Advisor in the Research Hub of the Bank of England. Before that, he was Deputy Division Chief, at the Modeling Division in the Research Department at the International Monetary Fund (IMF) (2004 to 2015). Kumhof was responsible for developing the Global Integrated Monetary and Fiscal Model of the IMF which is used at several central banks, for IMF policy and scenario analyses, for the World Economic Outlook, and for G20 work. Before that, he was Assistant Professor at Stanford University (1998 to 2004). His research focuses on the role of banks in the economy and on different monetary systems.

Michael KumhofSenior research advisor, Bank of England. Former economist at IMF.

Michael Kumhof is Senior Research Advisor in the Research Hub of the Bank of England. Before that, he was Deputy Division Chief, at the Modeling Division in the Research Department at the International Monetary Fund (IMF) (2004 to 2015). Kumhof was responsible for developing the Global Integrated Monetary and Fiscal Model of the IMF which is used at several central banks, for IMF policy and scenario analyses, for the World Economic Outlook, and for G20 work. Before that, he was Assistant Professor at Stanford University (1998 to 2004). His research focuses on the role of banks in the economy and on different monetary systems.

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Miguel Fernandez OrdóñezFormer governor of Banco de España

Miguel Fernández Ordóñez was the governor of the Spanish Central Bank and member of the Governing Council of the ECB from 2006 to 2012. Before this position, he was among others, Secretary of State for the Spanish Ministry of Economy and Secretary of State for the Ministry of Finance. He also held positions as Chairman of a Securities firm and board member of a big commercial bank. He was also member of the IMF Board, President of the Competition Court, President of the National Electricity Commission and lecturer at the Universidad Complutense in Madrid.

Miguel Fernandez OrdóñezFormer governor of Banco de España

Miguel Fernández Ordóñez was the governor of the Spanish Central Bank and member of the Governing Council of the ECB from 2006 to 2012. Before this position, he was among others, Secretary of State for the Spanish Ministry of Economy and Secretary of State for the Ministry of Finance. He also held positions as Chairman of a Securities firm and board member of a big commercial bank. He was also member of the IMF Board, President of the Competition Court, President of the National Electricity Commission and lecturer at the Universidad Complutense in Madrid.

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Cecilia RepinskiExecutive Director, Stockholm Green Digital Finance

Cecilia has worked with sustainable finance since the early 2000s, ranging from project finance, asset management to scientific research and innovation. She is the Executive Director of Stockholm Green Digital Finance, a not-for-profit tasked to demonstrate creative solutions to scale green finance and investment through the application of fintech solutions -such as the Green Assets Wallet. Prior to Stockholm Green Digital Finance, Cecilia headed the Sustainable Finance platform at Stockholm School of Economics where she managed the operations of 6 million EUR worth of research activities and initiated the School’s first Executive Education in Green Finance. Cecilia is part of the Executive Team of Stockholm Sustainable Finance Centre, to which Stockholm Green Digital Finance is a collaborating partner, represents Sweden in the UN-led Financial Centers 4 Sustainability Network, to which Stockholm Green Digital Finance is a signatory and founding member, and she sits on the Board of SweSIF, the Swedish Sustainable Investment Forum.

Cecilia RepinskiExecutive Director, Stockholm Green Digital Finance

Cecilia has worked with sustainable finance since the early 2000s, ranging from project finance, asset management to scientific research and innovation. She is the Executive Director of Stockholm Green Digital Finance, a not-for-profit tasked to demonstrate creative solutions to scale green finance and investment through the application of fintech solutions -such as the Green Assets Wallet. Prior to Stockholm Green Digital Finance, Cecilia headed the Sustainable Finance platform at Stockholm School of Economics where she managed the operations of 6 million EUR worth of research activities and initiated the School’s first Executive Education in Green Finance. Cecilia is part of the Executive Team of Stockholm Sustainable Finance Centre, to which Stockholm Green Digital Finance is a collaborating partner, represents Sweden in the UN-led Financial Centers 4 Sustainability Network, to which Stockholm Green Digital Finance is a signatory and founding member, and she sits on the Board of SweSIF, the Swedish Sustainable Investment Forum.

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The Swedish RiksbankWhich person will be decided later
The Swedish RiksbankWhich person will be decided later
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Joseph HuberProfessor of economic and environmental sociology

Joseph Huber is a leading researcher in monetary and banking theory at Martin Luther University of Halle-Wittenberg

He has made influential contributions to recent monetary system analysis and reform, for instance the book "Sovereign Money. Beyond Reserve Banking"

Huber is known widely also as one of the founders of ecological modernization theory.

Check out his blog https://sovereignmoney.eu/.

Joseph HuberProfessor of economic and environmental sociology

Joseph Huber is a leading researcher in monetary and banking theory at Martin Luther University of Halle-Wittenberg

He has made influential contributions to recent monetary system analysis and reform, for instance the book "Sovereign Money. Beyond Reserve Banking"

Huber is known widely also as one of the founders of ecological modernization theory.

Check out his blog https://sovereignmoney.eu/.

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Patrizio LainàPhD, Economist at the Central Organisation of Finnish Trade Unions
Patrizio LainàPhD, Economist at the Central Organisation of Finnish Trade Unions
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Dirk NiepeltProfessor of Economics at the University of Bern

Dirk Niepelt is Director of the Study Center Gerzensee and Professor at the University of Bern. A research fellow at the Center for Economic Policy Research (CEPR, London), CESifo (Munich) research network member and member of the macroeconomic committee of the Verein für Socialpolitik, he served on the board of the Swiss Society of Economics and Statistics and was a visiting professor at the Institute for International Economic Studies (IIES) at Stockholm University. Dirk Niepelt received his Ph.D. in economics from the Massachusetts Institute of Technology (MIT) and holds a licentiate and doctorate from the University of St. Gallen. Previous to joining the Study Center, he was assistant professor at IIES. Before completing his Ph.D., he worked at applied research institutes in St. Gallen and Zurich (FEW, KOF). His research interests include macroeconomics, international finance, political economy, and public finance.

Dirk NiepeltProfessor of Economics at the University of Bern

Dirk Niepelt is Director of the Study Center Gerzensee and Professor at the University of Bern. A research fellow at the Center for Economic Policy Research (CEPR, London), CESifo (Munich) research network member and member of the macroeconomic committee of the Verein für Socialpolitik, he served on the board of the Swiss Society of Economics and Statistics and was a visiting professor at the Institute for International Economic Studies (IIES) at Stockholm University. Dirk Niepelt received his Ph.D. in economics from the Massachusetts Institute of Technology (MIT) and holds a licentiate and doctorate from the University of St. Gallen. Previous to joining the Study Center, he was assistant professor at IIES. Before completing his Ph.D., he worked at applied research institutes in St. Gallen and Zurich (FEW, KOF). His research interests include macroeconomics, international finance, political economy, and public finance.

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Ulf DahlstenVisiting Professor at London School of Economics

Ulf Dahlsten is a Visiting Professor at the London School of Economics and a Senior Advisor at the Global Climate Forum in Berlin. Ulf Dahlsten was the Secretary of State during the Olof Palme Government.

Ulf DahlstenVisiting Professor at London School of Economics

Ulf Dahlsten is a Visiting Professor at the London School of Economics and a Senior Advisor at the Global Climate Forum in Berlin. Ulf Dahlsten was the Secretary of State during the Olof Palme Government.

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Martijn van der LindenProfessor of New Finance at The Hague University of Applied Science

Martijn van der Linden is Professor New Finance at The Hague University of Applied Science, Chairman of Foundation Ons Geld (Our Money) and PhD researcher at Delft University of Technology (department Economics of Innovation and Technology). In 2015 Ons Geld launched a successful citizens’ initiative about monetary reform in the Netherlands. This resulted in the report ‘Money and Debt’ published by the Netherlands Scientific Council for Government Policy in January 2019. As a next step Ons Geld published last month a position paper titled ‘ Public depository: safe-haven and level playing field for book money’. In his PhD thesis van der Linden uses design science to explore the design of the monetary-financial system in the digital age. This PhD project will be completed coming year.

Martijn van der LindenProfessor of New Finance at The Hague University of Applied Science

Martijn van der Linden is Professor New Finance at The Hague University of Applied Science, Chairman of Foundation Ons Geld (Our Money) and PhD researcher at Delft University of Technology (department Economics of Innovation and Technology). In 2015 Ons Geld launched a successful citizens’ initiative about monetary reform in the Netherlands. This resulted in the report ‘Money and Debt’ published by the Netherlands Scientific Council for Government Policy in January 2019. As a next step Ons Geld published last month a position paper titled ‘ Public depository: safe-haven and level playing field for book money’. In his PhD thesis van der Linden uses design science to explore the design of the monetary-financial system in the digital age. This PhD project will be completed coming year.

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Co-organizers and sponsors

Location for the Conference