Mattias Vermeiren
Biographic Data
| ID | 1616485 |
|---|---|
| NAME | Mattias Vermeiren |
| GIVEN NAMES | Mattias |
| FAMILY NAME | Vermeiren |
| SIGNATURE | VERMEIREN M |
| AFFILIATIONS | Ghent University |
| ORCID | 0000-0003-4292-0270 |
| VERIFIED | Yes |
| TOTAL WORKS | 18 |
| TOTAL CITATIONS | 116 |
| AUTHOR COUNT | 18 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 2010 |
| LATEST PUBLICATION YEAR | 2025 |
| H-INDEX | 8 |
Defining Price Stability
The persistent undershooting of its self-defined target to achieve inflation “below but near two percent” prompted the European Central Bank (ECB) to launch a review of its monetary policy strategy and adopt a symmetric inflation target. In this article, I examine the politics of accountability underlying the ECB’s re-definition of its price stability objective through a comparison with the strategy review of the Federal Reserve, which went furth…
Depoliticising monetary tightening
The 2021-2023 inflation shock fuelled a heated public debate about the role of the monetary tightening strategy as the key strategy to the return to price stability. Central banks' rate hikes were not only seen as an overly blunt mechanism to deal with an inflationary surge caused by a series of negative supply shocks over which monetary policy had no control. They were also criticised for depressing labour markets and weakening workers' bargaini…
Walking a thin line
In this article, we provide a comparative case study analysis of the differentiated climate change engagement of the Bank of England (BoE), European Central Bank (ECB) and Federal Reserve (Fed). Drawing on semi-structured interviews and a newly composed database of central banker speeches and legislative documents, we argue that climate (in)actions of these central banks are shaped by concerns over their reputation. A broad socio-political consen…
Another strange non-death
Monetary policy has long relied on the 'natural rate hypothesis', suggesting that after an economic shock the unemployment rate will automatically return to its supply-side 'natural' rate or NAIRU. Macroeconomic developments since the 2008 financial crisis have challenged this hypothesis, forcing the US Federal Reserve to conduct a strategic review of its monetary policy framework, published in 2020. We conducted an in-depth case study of the Fed…
Pushing on a String
In this article we examine the limited effectiveness of major advanced central banks’ expansionary measures – particularly quantitative easing (QE) – in raising inflation from a post-Keynesian growth model perspective that distinguishes the sectoral-allocative effects of these policies from their class-distributive effects. In terms of sectoral-allocative effects, we empirically link the weak recovery of aggregate demand to the lack of rebalancin…
The BRICs and International Tax Governance
This article investigates the BRICs’ involvement in the adoption of Automatic Exchange of Information (AEoI) by the G20 and the Organisation for Economic Cooperation and Development (OECD) as a major breakthrough in the global fight against tax evasion. Our main questions concern the BRICs’ willingness to accept AEoI, and their agreement to the Western-dominated OECD as its institutional forum. First, we examine the domestic drivers for BRICs’ pa…
Meeting the world’s demand for safe assets? Macroeconomic policy and the international status of the euro after the crisis
In this article, I engage with the chartalist literature to explore the political foundations of international currencies. Drawing on this literature as well as on recent scholarship on the shortage of safe assets in the world economy, I challenge a prevailing premise of the International Political Economy literature that international currency status needs to be based on conservative macroeconomic policy institutions and practices, which is deem…
One-size-fits-some! Capitalist diversity, sectoral interests and monetary policy in the euro area
In the comparative capitalism literature, the European Central Bank's (ECB's) ‘one-size-fits-none’ monetary policy played a key role in the widening of trade imbalances in the euro area (EA) by being overly restrictive for the region's coordinated market economies (CMEs) and overly expansionary for the region's mixed market economies (MMEs). According to this literature, wage setting institutions mediated how the ECB's monetary policy re-distribu…
Germany's Institutional Power and the EMU Regime after the Crisis
In this article we examine the constraints on Germany's influence over reforms of the Economic and Monetary Union's (EMU) macroeconomic governance regime. Drawing on the insights of historical institutionalism, we show that the German government's control over the process is constrained by the increased sunk costs of European monetary integration and the unintended negative spillovers from its management of the eurozone crisis. While the German g…
China’s state-permeated market economy and its constraints to the internationalization of the renminbi
The Eurozone crisis and the rise of China in the global monetary and trading system
The Crisis of US Monetary Hegemony and Global Economic Adjustment
Over the past decade the world economy has been characterized by escalating global current account imbalances between the United States and East Asian states. This paper argues that US structural power in the global monetary system allowed the consolidation of a finance-led growth regime in the US based on massive capital inflows, asset inflation and consumption growth while inducing East Asian emerging market economies to establish export-led gr…
IMF reform after the crisis
Foreign Exchange Accumulation and the Entrapment of Chinese Monetary Power
This article criticises the notion that China's foreign exchange reserves have strengthened its monetary power. While some scholars have argued that China's international monetary influence has been ‘entrapped’ by the domestic interests of its export sector, a one-sided focus on the export sector fails to identify the significant constraints on its macroeconomic autonomy. This article proposes an extension of the concept of entrapment that draws …
Monetary power and EMU
This article examines the impact of the establishment of Economic and Monetary Union (EMU) and the introduction of the euro on the monetary power of its member states. Taking into consideration continuing capitalist variety among national political economies of the Eurozone, I examine the implications of EMU for the macroeconomic autonomy of different national models capitalism. Drawing on a comparative capitalism perspective, it is argued that t…
Challenging Global Neoliberalism? The global political economy of China's capital controls
This article engages with critical ipe scholars who have examined the rise of China and its impact on the neoliberal world order by analysing whether China poses a challenge to the neoliberal norm of free movement of capital. We argue that China's capital control regime is marked by a contradiction between its domestic social relations of production and its global geo-economic ambitions. On one hand, the key raison d'être of China's capital contr…
The global imbalances and the contradictions of US monetary hegemony
Neo-liberalism at a Time of Crisis
This essay explores how the global financial crisis of 2008–2009 has affected the stability of what Stephen Gill has termed the ‘new constitutionalism of disciplinary neo-liberalism’, 1 more precisely, in the realm of international tax policy. Rather than providing an in-depth and complete empirical study of the matter, this essay will highlight certain interesting developments and touch upon a series of possibly relevant questions that could for…
Germany's Institutional Power and the EMU Regime after the Crisis
In this article we examine the constraints on Germany's influence over reforms of the Economic and Monetary Union's (EMU) macroeconomic governance regime. Drawing on the insights of historical institutionalism, we show that the German government's control over the process is constrained by the increased sunk costs of European monetary integration and the unintended negative spillovers from its management of the eurozone crisis. While the German g…
Challenging Global Neoliberalism? The global political economy of China's capital controls
This article engages with critical ipe scholars who have examined the rise of China and its impact on the neoliberal world order by analysing whether China poses a challenge to the neoliberal norm of free movement of capital. We argue that China's capital control regime is marked by a contradiction between its domestic social relations of production and its global geo-economic ambitions. On one hand, the key raison d'être of China's capital contr…
Pushing on a String
In this article we examine the limited effectiveness of major advanced central banks’ expansionary measures – particularly quantitative easing (QE) – in raising inflation from a post-Keynesian growth model perspective that distinguishes the sectoral-allocative effects of these policies from their class-distributive effects. In terms of sectoral-allocative effects, we empirically link the weak recovery of aggregate demand to the lack of rebalancin…
One-size-fits-some! Capitalist diversity, sectoral interests and monetary policy in the euro area
In the comparative capitalism literature, the European Central Bank's (ECB's) ‘one-size-fits-none’ monetary policy played a key role in the widening of trade imbalances in the euro area (EA) by being overly restrictive for the region's coordinated market economies (CMEs) and overly expansionary for the region's mixed market economies (MMEs). According to this literature, wage setting institutions mediated how the ECB's monetary policy re-distribu…
Another strange non-death
Monetary policy has long relied on the 'natural rate hypothesis', suggesting that after an economic shock the unemployment rate will automatically return to its supply-side 'natural' rate or NAIRU. Macroeconomic developments since the 2008 financial crisis have challenged this hypothesis, forcing the US Federal Reserve to conduct a strategic review of its monetary policy framework, published in 2020. We conducted an in-depth case study of the Fed…
China’s state-permeated market economy and its constraints to the internationalization of the renminbi
IMF reform after the crisis
Foreign Exchange Accumulation and the Entrapment of Chinese Monetary Power
This article criticises the notion that China's foreign exchange reserves have strengthened its monetary power. While some scholars have argued that China's international monetary influence has been ‘entrapped’ by the domestic interests of its export sector, a one-sided focus on the export sector fails to identify the significant constraints on its macroeconomic autonomy. This article proposes an extension of the concept of entrapment that draws …
Neo-liberalism at a Time of Crisis
This essay explores how the global financial crisis of 2008–2009 has affected the stability of what Stephen Gill has termed the ‘new constitutionalism of disciplinary neo-liberalism’, 1 more precisely, in the realm of international tax policy. Rather than providing an in-depth and complete empirical study of the matter, this essay will highlight certain interesting developments and touch upon a series of possibly relevant questions that could for…
The Eurozone crisis and the rise of China in the global monetary and trading system
Walking a thin line
In this article, we provide a comparative case study analysis of the differentiated climate change engagement of the Bank of England (BoE), European Central Bank (ECB) and Federal Reserve (Fed). Drawing on semi-structured interviews and a newly composed database of central banker speeches and legislative documents, we argue that climate (in)actions of these central banks are shaped by concerns over their reputation. A broad socio-political consen…
The global imbalances and the contradictions of US monetary hegemony
Monetary power and EMU
This article examines the impact of the establishment of Economic and Monetary Union (EMU) and the introduction of the euro on the monetary power of its member states. Taking into consideration continuing capitalist variety among national political economies of the Eurozone, I examine the implications of EMU for the macroeconomic autonomy of different national models capitalism. Drawing on a comparative capitalism perspective, it is argued that t…
Defining Price Stability
The persistent undershooting of its self-defined target to achieve inflation “below but near two percent” prompted the European Central Bank (ECB) to launch a review of its monetary policy strategy and adopt a symmetric inflation target. In this article, I examine the politics of accountability underlying the ECB’s re-definition of its price stability objective through a comparison with the strategy review of the Federal Reserve, which went furth…
Depoliticising monetary tightening
The 2021-2023 inflation shock fuelled a heated public debate about the role of the monetary tightening strategy as the key strategy to the return to price stability. Central banks' rate hikes were not only seen as an overly blunt mechanism to deal with an inflationary surge caused by a series of negative supply shocks over which monetary policy had no control. They were also criticised for depressing labour markets and weakening workers' bargaini…
The BRICs and International Tax Governance
This article investigates the BRICs’ involvement in the adoption of Automatic Exchange of Information (AEoI) by the G20 and the Organisation for Economic Cooperation and Development (OECD) as a major breakthrough in the global fight against tax evasion. Our main questions concern the BRICs’ willingness to accept AEoI, and their agreement to the Western-dominated OECD as its institutional forum. First, we examine the domestic drivers for BRICs’ pa…
The Crisis of US Monetary Hegemony and Global Economic Adjustment
Over the past decade the world economy has been characterized by escalating global current account imbalances between the United States and East Asian states. This paper argues that US structural power in the global monetary system allowed the consolidation of a finance-led growth regime in the US based on massive capital inflows, asset inflation and consumption growth while inducing East Asian emerging market economies to establish export-led gr…
The global imbalances and the contradictions of US monetary hegemony
Neo-liberalism at a Time of Crisis
This essay explores how the global financial crisis of 2008–2009 has affected the stability of what Stephen Gill has termed the ‘new constitutionalism of disciplinary neo-liberalism’, 1 more precisely, in the realm of international tax policy. Rather than providing an in-depth and complete empirical study of the matter, this essay will highlight certain interesting developments and touch upon a series of possibly relevant questions that could for…
Challenging Global Neoliberalism? The global political economy of China's capital controls
This article engages with critical ipe scholars who have examined the rise of China and its impact on the neoliberal world order by analysing whether China poses a challenge to the neoliberal norm of free movement of capital. We argue that China's capital control regime is marked by a contradiction between its domestic social relations of production and its global geo-economic ambitions. On one hand, the key raison d'être of China's capital contr…
The Crisis of US Monetary Hegemony and Global Economic Adjustment
Over the past decade the world economy has been characterized by escalating global current account imbalances between the United States and East Asian states. This paper argues that US structural power in the global monetary system allowed the consolidation of a finance-led growth regime in the US based on massive capital inflows, asset inflation and consumption growth while inducing East Asian emerging market economies to establish export-led gr…
IMF reform after the crisis
Foreign Exchange Accumulation and the Entrapment of Chinese Monetary Power
This article criticises the notion that China's foreign exchange reserves have strengthened its monetary power. While some scholars have argued that China's international monetary influence has been ‘entrapped’ by the domestic interests of its export sector, a one-sided focus on the export sector fails to identify the significant constraints on its macroeconomic autonomy. This article proposes an extension of the concept of entrapment that draws …
Monetary power and EMU
This article examines the impact of the establishment of Economic and Monetary Union (EMU) and the introduction of the euro on the monetary power of its member states. Taking into consideration continuing capitalist variety among national political economies of the Eurozone, I examine the implications of EMU for the macroeconomic autonomy of different national models capitalism. Drawing on a comparative capitalism perspective, it is argued that t…
The Eurozone crisis and the rise of China in the global monetary and trading system
China’s state-permeated market economy and its constraints to the internationalization of the renminbi
Germany's Institutional Power and the EMU Regime after the Crisis
In this article we examine the constraints on Germany's influence over reforms of the Economic and Monetary Union's (EMU) macroeconomic governance regime. Drawing on the insights of historical institutionalism, we show that the German government's control over the process is constrained by the increased sunk costs of European monetary integration and the unintended negative spillovers from its management of the eurozone crisis. While the German g…
One-size-fits-some! Capitalist diversity, sectoral interests and monetary policy in the euro area
In the comparative capitalism literature, the European Central Bank's (ECB's) ‘one-size-fits-none’ monetary policy played a key role in the widening of trade imbalances in the euro area (EA) by being overly restrictive for the region's coordinated market economies (CMEs) and overly expansionary for the region's mixed market economies (MMEs). According to this literature, wage setting institutions mediated how the ECB's monetary policy re-distribu…
The BRICs and International Tax Governance
This article investigates the BRICs’ involvement in the adoption of Automatic Exchange of Information (AEoI) by the G20 and the Organisation for Economic Cooperation and Development (OECD) as a major breakthrough in the global fight against tax evasion. Our main questions concern the BRICs’ willingness to accept AEoI, and their agreement to the Western-dominated OECD as its institutional forum. First, we examine the domestic drivers for BRICs’ pa…
Meeting the world’s demand for safe assets? Macroeconomic policy and the international status of the euro after the crisis
In this article, I engage with the chartalist literature to explore the political foundations of international currencies. Drawing on this literature as well as on recent scholarship on the shortage of safe assets in the world economy, I challenge a prevailing premise of the International Political Economy literature that international currency status needs to be based on conservative macroeconomic policy institutions and practices, which is deem…
Pushing on a String
In this article we examine the limited effectiveness of major advanced central banks’ expansionary measures – particularly quantitative easing (QE) – in raising inflation from a post-Keynesian growth model perspective that distinguishes the sectoral-allocative effects of these policies from their class-distributive effects. In terms of sectoral-allocative effects, we empirically link the weak recovery of aggregate demand to the lack of rebalancin…
Another strange non-death
Monetary policy has long relied on the 'natural rate hypothesis', suggesting that after an economic shock the unemployment rate will automatically return to its supply-side 'natural' rate or NAIRU. Macroeconomic developments since the 2008 financial crisis have challenged this hypothesis, forcing the US Federal Reserve to conduct a strategic review of its monetary policy framework, published in 2020. We conducted an in-depth case study of the Fed…
Walking a thin line
In this article, we provide a comparative case study analysis of the differentiated climate change engagement of the Bank of England (BoE), European Central Bank (ECB) and Federal Reserve (Fed). Drawing on semi-structured interviews and a newly composed database of central banker speeches and legislative documents, we argue that climate (in)actions of these central banks are shaped by concerns over their reputation. A broad socio-political consen…
Defining Price Stability
The persistent undershooting of its self-defined target to achieve inflation “below but near two percent” prompted the European Central Bank (ECB) to launch a review of its monetary policy strategy and adopt a symmetric inflation target. In this article, I examine the politics of accountability underlying the ECB’s re-definition of its price stability objective through a comparison with the strategy review of the Federal Reserve, which went furth…
Depoliticising monetary tightening
The 2021-2023 inflation shock fuelled a heated public debate about the role of the monetary tightening strategy as the key strategy to the return to price stability. Central banks' rate hikes were not only seen as an overly blunt mechanism to deal with an inflationary surge caused by a series of negative supply shocks over which monetary policy had no control. They were also criticised for depressing labour markets and weakening workers' bargaini…
Economics (16 works) · Global Financial Crisis and Policies (10 works) · International economics (9 works) · Macroeconomics (9 works) · Political science (9 works) · Economic Theory and Policy (8 works) · Monetary policy (8 works) · Finance (6 works) · Monetary economics (6 works) · Politics (6 works)