STOREP 2021: INET-STOREP Initiative


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“Modern Money Theory – What is new, what is good and what is relevant for Eurozone countries?” is the title of this year’s INET-STOREP Initiative.

Following a recent but now established tradition, the joint STOREP-INET initiative takes place during the annual STOREP conference, and is attended both by STOREP members and by young scholars of the INET Young Scholars international network. The event aims at promoting rigorous discussion and comparison of different views concerning relevant economic issues. The ambition is to offer attending young scholars a unique opportunity to broaden their knowledge and acquire tools for in-depth reflection on such matters.

Invited speakers of the 2021 INET-STOREP initiative (the session is chaired by Sergio Cesaratto) will discuss so-called Modern monetary theory and its relevance for the Eurozone (June 17, 2-3.30pm).

“MMT: What’s all the fuss about?” is the title of L. Randall Wray‘s speech.

L. Randall Wray is a Senior Scholar at the Levy Economics Institute and Professor of Economics at Bard College. He is one of the original developers of Modern Money Theory. Wray’s most recent books are Why Minsky Matters (Princeton University Press, 2016), and A Great Leap Forward (Academic Press, January 2020).
Wray is the author of Money and Credit in Capitalist Economies (Edward Elgar, 1990), Understanding Modern Money (Edward Elgar, 1998), The Rise and Fall of Money Manager Capitalism (with É. Tymoigne; Routledge, 2013), Modern Money Theory (Palgrave Macmillan, 2012; 2nd rev. ed., 2015), and a textbook, Macroeconomics (with William Mitchell and Martin Watts; Red Globe Press, 2019).
STOREP 2017 invited speaker Wray previously taught at the University of Missouri–Kansas City and at the University of Denver, and has been a visiting professor at the Universities of Paris and Rome, as well as UNAM in Mexico City. He holds a BA from the University of the Pacific and an MA and a Ph.D. from Washington University, where he was a student of Minsky. He has held a number of Fulbright Grants, including most recently at the Tallinn University of Technology in Estonia.

Marc Lavoie will talk about “MMT, sovereign currencies and the Eurozone“.

Marc Lavoie has recently ended a three-year stint as a Senior Research Chair from the University Sorbonne Paris Cité. He is now Emeritus Professor at the University of Sorbonne Paris Nord and Emeritus Professor at the University of Ottawa, where he taught from 1979 to 2016. He is a Research Fellow at the Macroeconomic Research Institute of the Hans Böckler Foundation in Düsseldorf and a Research Associate at the Broadbent Institute in Toronto.
Lavoie has published 10 books and over 160 refereed articles and 80 book chapters, mostly in macroeconomics – monetary economics and growth theory – but also in other fields such as the economics of sports. His most recent work dealt with wage-led growth and with the justifications provided by central bankers to justify quantitative easing. He is best known for his book with Wynne Godley, Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth (2007), which is considered a must-read for users of the stock-flow consistent approach.
His book, Post-Keynesian Economics: New Foundations, received the 2017 Myrdal Prize from the European Association of Evolutionary Political Economy. His various papers on money and monetary policy have been gathered in the book Post-Keynesian Monetary Theory: Selected Essays (2020). He is a co-editor of two journals, Metroeconomica and the European Journal of Economics and Economic Policies.