Andreas Kaltenbrunner
Biographic Data
| ID | 211631 |
|---|---|
| NAME | Andreas Kaltenbrunner |
| GIVEN NAMES | Andreas |
| FAMILY NAME | Kaltenbrunner |
| SIGNATURE | KALTENBRUNNER A |
| AFFILIATIONS | University of Leeds |
| ORCID | 0000-0003-3519-5197 |
| VERIFIED | Yes |
| TOTAL WORKS | 19 |
| TOTAL CITATIONS | 212 |
| AUTHOR COUNT | 19 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 2010 |
| LATEST PUBLICATION YEAR | 2026 |
| H-INDEX | 6 |
Are traditional hazard-based weather warnings anticipating local impact
Hazard-based weather warnings alert decision makers, responders, and the population about meteorological risks, yet often overlook data on vulnerability and exposure, relying instead on fixed or climatology-based thresholds. This raises questions about their effectiveness at higher resolutions, as weather impacts are ultimately determined by local characteristics. This work addresses this gap by providing the first quantitative and high-resolutio…
Asset-manager society and international financial subordination
This essay critically engages with the concept of asset-manager society (AMS) proposed by Brett Christophers. We begin by drawing out its five key elements through a contrast with the related but distinct concept of asset-manager capitalism. We then ask to what extent AMS can be observed in the countries of the Global South, which are characterised by a subordinate position in international money and financial markets. We conclude by highlighting…
Global Reparations within Capitalism: Aspirations and Tensions in Contemporary Movements for Reparatory Justice
The idea of global reparations has received increasing attention in recent years, not only with respect to legacies of slavery and colonialism, but also to interrelated issues such as climate change, debt crisis, or ongoing financial transfers from the Global South to the Global North. This article, which introduces and sets the Debate for the 2024 Forum issue on the political economy of 21st century global reparations, offers a critical perspect…
International financial subordination in the age of asset manager capitalism
The rise of asset managers as key nodes of financial intermediation has been one of the most fundamental changes in the global economy over recent years. An emerging literature on asset manager capitalism (AMC) discusses these changes and its implications, though largely in the context of corporate governance in advanced capitalist economies. This paper expands the remit of the AMC literature to spaces outside the global capitalist core, and asse…
Assessing financialization under international financial subordination: A mixed-methods study of Brazilian and Turkish non-financial corporations
This article investigates the changing financial behaviour of Brazilian and Turkish non-financial corporations (NFCs) in the context of international financial subordination. Recent empirical evidence shows that emerging capitalist economies' (ECEs) NFCs have increased their holdings of very short-term financial assets (mainly cash), whilst borrowing heavily from (international) financial markets and banks. Drawing on an extensive mixed-method st…
South-South monetary regionalism: A case of productive incoherence
The variety of monetary and regional cooperation institutions often is characterised as uneven, fragmented, and partially contested. In contrast to this narrative, Grabel (Citation2018) applies a Hirschmanian mindset to monetary and regional cooperation that highlights the experimental nature of recent innovations as a ‘productive incoherence’. This paper presents a case study of such productive incoherence. We examine the institutional set up of…
UK pension funds’ patience and liquidity in the age of market-based finance
Pension funds have often failed to meet expectations in terms of providing ‘patient capital’. Explanations for this lapse have ranged over regulatory and ideational factors. We argue that a new ‘impatient’ phenomenon is emerging that requires further explanation: pension funds are becoming more mindful of their liquidity and collateral management, and engage in pro-cyclical investment behaviour. We show how UK pension funds have adapted their inv…
Local Currency Bond Markets in Africa: Resilience and Subordination
This article examines the development and implications of local currency bond markets (LCBMs) in African countries in the context of international financial subordination (IFS). Despite the promotion of LCBMs as a solution to debt vulnerability, there is a dearth of research that offers a systematic empirical examination of their actual benefits along with conceptual explanations as to when and why such benefits may or may not materialize. This i…
International financial subordination: A critical research agenda
Despite a varied picture in terms of their relative economic strength, Developing and Emerging Economies (DEEs) remain in a subordinate position in the global monetary and financial system. While the IPE and economics literatures provide rich insights about the significance of this phenomenon, research efforts remain fragmented. To address this problem, we offer an umbrella concept—international financial subordination (IFS)—to channel research e…
Critical macro-finance, Post Keynesian monetary theory and emerging economies
In our contribution to this forum, we suggest that critical macro-finance (CMF) scholars and Post Keynesian monetary theorists would profit from a more explicit engagement with each other. Post Keynesian scholars would benefit from the detailed empirical insights that CMF provides, particularly through its analysis of non-bank financial institutions and the conceptual focus on liquidity and liabilities. Meanwhile, the CMF literature would benefit…
Liability-driven investment and pension fund exposure to emerging markets: A Minskyan analysis
This paper explores the determinants and implications of the growing allocation of insurance companies and pension funds to emerging markets. The key contention put forward is that liabilities are at the core of the portfolio choice of insurance companies and pension funds, and that this has important consequences for the stability of asset demand. The paper supports this contention with a theoretical framework based on Hyman Minsky and the resul…
The International Dimension of Financialization in Developing and Emerging Economies
This contribution discusses the international aspect of financialization in developing and emerging economies (DEEs). It argues that international financialization is more than just an increase in cross-border capital flows but entails distinct qualitative changes in the way economic agents are integrated into international financial markets. Moreover, in line with the emerging literature on subordinated financialization, the article shows how th…
Subordinated Financial Integration and Financialisation in Emerging Capitalist Economies: The Brazilian Experience
This paper analyses the recent changes in financial practices and relations in emerging capitalist economies (ECEs) using the example of Brazil. It argues that in ECEs these financial transformations, akin to the financialisation phenomena observed in Core Capitalist Economies (CCEs), are fundamentally shaped by their subordinated integration into a financialised and structured world economy. To analyse this subordinated financialisation, the pap…
The US Dollar's Continuing Hegemony as an International Currency: A Double-matrix Analysis
The standard framework for debating the international currency system casts doubt on the dollar's continuing hegemonic position because it raises questions regarding the ability of the US to finance its external liabilities in the face of worsening economic fundamentals. This article addresses these questions by adding to the usual matrix linking the international functions of money to two different types of agents, private and official, a second…
The Impossible Trinity: Inflation Targeting, Exchange Rate Management and Open Capital Accounts in Emerging Economies
This article contributes to the debate on macroeconomic management and capital account regulations in developing and emerging countries (DECs). It argues that the recommendation by neoclassical economists and international financial institutions (IFIs) to combine an inflation-targeting regime with exchange rate management, whilst maintaining open capital accounts, is not only impossible but also potentially counterproductive. The article draws on…
Contrasting medium and genre on Wikipedia to open up the dominating definition and classification of geoengineering
Geoengineering is typically defined as a techno-scientific response to climate change that differs from mitigation and adaptation, and that includes diverse individual technologies, which can be classified as either solar radiation management or carbon dioxide removal. We analyse the representation of geoengineering on Wikipedia as a way of opening up this dominating, if contested, model for further debate. We achieve this by contrasting the domi…
Communication dynamics in twitter during political campaigns: The case of the 2011 Spanish national election
The irruption of social media in the political sphere is generating repositories of “Big Data,” which can be mined to gain insights into communication dynamics. The research reported here relies on a large data set from Twitter to examine the activity, emotional content, and interactions of political parties and politicians during the campaign for the Spanish national elections in November 2011. The aim of this study is to investigate the adaptat…
Emotions, Public Opinion, and U.S. Presidential Approval Rates: A 5-Year Analysis of Online Political Discussions
This article examines how emotional reactions to political events shape public opinion. We analyze political discussions in which people voluntarily engage online to approximate the public agenda: Online discussions offer a natural approach to the salience of political issues and the means to analyze emotional reactions as political events take place in real time. We measure shifts in emotions of the public over a period that includes 2 U.S. pres…
Eurozone crisis: Beggar thyself and thy neighbour
The sovereign debt crisis that broke out in Greece at the end of 2009 is fundamentally due to the precarious integration of peripheral countries in the eurozone. Its immediate causes, however, lie with the crisis of 2007–2009. Speculative mortgage lending by US financial institutions and trading of resultant derivative securities by international banks created a vast bubble in 2001–2007, leading to crisis and recession. State provision of liquidi…
International financial subordination: A critical research agenda
Despite a varied picture in terms of their relative economic strength, Developing and Emerging Economies (DEEs) remain in a subordinate position in the global monetary and financial system. While the IPE and economics literatures provide rich insights about the significance of this phenomenon, research efforts remain fragmented. To address this problem, we offer an umbrella concept—international financial subordination (IFS)—to channel research e…
Subordinated Financial Integration and Financialisation in Emerging Capitalist Economies: The Brazilian Experience
This paper analyses the recent changes in financial practices and relations in emerging capitalist economies (ECEs) using the example of Brazil. It argues that in ECEs these financial transformations, akin to the financialisation phenomena observed in Core Capitalist Economies (CCEs), are fundamentally shaped by their subordinated integration into a financialised and structured world economy. To analyse this subordinated financialisation, the pap…
Communication dynamics in twitter during political campaigns: The case of the 2011 Spanish national election
The irruption of social media in the political sphere is generating repositories of “Big Data,” which can be mined to gain insights into communication dynamics. The research reported here relies on a large data set from Twitter to examine the activity, emotional content, and interactions of political parties and politicians during the campaign for the Spanish national elections in November 2011. The aim of this study is to investigate the adaptat…
The International Dimension of Financialization in Developing and Emerging Economies
This contribution discusses the international aspect of financialization in developing and emerging economies (DEEs). It argues that international financialization is more than just an increase in cross-border capital flows but entails distinct qualitative changes in the way economic agents are integrated into international financial markets. Moreover, in line with the emerging literature on subordinated financialization, the article shows how th…
Liability-driven investment and pension fund exposure to emerging markets: A Minskyan analysis
This paper explores the determinants and implications of the growing allocation of insurance companies and pension funds to emerging markets. The key contention put forward is that liabilities are at the core of the portfolio choice of insurance companies and pension funds, and that this has important consequences for the stability of asset demand. The paper supports this contention with a theoretical framework based on Hyman Minsky and the resul…
The Impossible Trinity: Inflation Targeting, Exchange Rate Management and Open Capital Accounts in Emerging Economies
This article contributes to the debate on macroeconomic management and capital account regulations in developing and emerging countries (DECs). It argues that the recommendation by neoclassical economists and international financial institutions (IFIs) to combine an inflation-targeting regime with exchange rate management, whilst maintaining open capital accounts, is not only impossible but also potentially counterproductive. The article draws on…
The US Dollar's Continuing Hegemony as an International Currency: A Double-matrix Analysis
The standard framework for debating the international currency system casts doubt on the dollar's continuing hegemonic position because it raises questions regarding the ability of the US to finance its external liabilities in the face of worsening economic fundamentals. This article addresses these questions by adding to the usual matrix linking the international functions of money to two different types of agents, private and official, a second…
Critical macro-finance, Post Keynesian monetary theory and emerging economies
In our contribution to this forum, we suggest that critical macro-finance (CMF) scholars and Post Keynesian monetary theorists would profit from a more explicit engagement with each other. Post Keynesian scholars would benefit from the detailed empirical insights that CMF provides, particularly through its analysis of non-bank financial institutions and the conceptual focus on liquidity and liabilities. Meanwhile, the CMF literature would benefit…
International financial subordination in the age of asset manager capitalism
The rise of asset managers as key nodes of financial intermediation has been one of the most fundamental changes in the global economy over recent years. An emerging literature on asset manager capitalism (AMC) discusses these changes and its implications, though largely in the context of corporate governance in advanced capitalist economies. This paper expands the remit of the AMC literature to spaces outside the global capitalist core, and asse…
Assessing financialization under international financial subordination: A mixed-methods study of Brazilian and Turkish non-financial corporations
This article investigates the changing financial behaviour of Brazilian and Turkish non-financial corporations (NFCs) in the context of international financial subordination. Recent empirical evidence shows that emerging capitalist economies' (ECEs) NFCs have increased their holdings of very short-term financial assets (mainly cash), whilst borrowing heavily from (international) financial markets and banks. Drawing on an extensive mixed-method st…
South-South monetary regionalism: A case of productive incoherence
The variety of monetary and regional cooperation institutions often is characterised as uneven, fragmented, and partially contested. In contrast to this narrative, Grabel (Citation2018) applies a Hirschmanian mindset to monetary and regional cooperation that highlights the experimental nature of recent innovations as a ‘productive incoherence’. This paper presents a case study of such productive incoherence. We examine the institutional set up of…
Local Currency Bond Markets in Africa: Resilience and Subordination
This article examines the development and implications of local currency bond markets (LCBMs) in African countries in the context of international financial subordination (IFS). Despite the promotion of LCBMs as a solution to debt vulnerability, there is a dearth of research that offers a systematic empirical examination of their actual benefits along with conceptual explanations as to when and why such benefits may or may not materialize. This i…
UK pension funds’ patience and liquidity in the age of market-based finance
Pension funds have often failed to meet expectations in terms of providing ‘patient capital’. Explanations for this lapse have ranged over regulatory and ideational factors. We argue that a new ‘impatient’ phenomenon is emerging that requires further explanation: pension funds are becoming more mindful of their liquidity and collateral management, and engage in pro-cyclical investment behaviour. We show how UK pension funds have adapted their inv…
Eurozone crisis: Beggar thyself and thy neighbour
The sovereign debt crisis that broke out in Greece at the end of 2009 is fundamentally due to the precarious integration of peripheral countries in the eurozone. Its immediate causes, however, lie with the crisis of 2007–2009. Speculative mortgage lending by US financial institutions and trading of resultant derivative securities by international banks created a vast bubble in 2001–2007, leading to crisis and recession. State provision of liquidi…
Emotions, Public Opinion, and U.S. Presidential Approval Rates: A 5-Year Analysis of Online Political Discussions
This article examines how emotional reactions to political events shape public opinion. We analyze political discussions in which people voluntarily engage online to approximate the public agenda: Online discussions offer a natural approach to the salience of political issues and the means to analyze emotional reactions as political events take place in real time. We measure shifts in emotions of the public over a period that includes 2 U.S. pres…
Communication dynamics in twitter during political campaigns: The case of the 2011 Spanish national election
The irruption of social media in the political sphere is generating repositories of “Big Data,” which can be mined to gain insights into communication dynamics. The research reported here relies on a large data set from Twitter to examine the activity, emotional content, and interactions of political parties and politicians during the campaign for the Spanish national elections in November 2011. The aim of this study is to investigate the adaptat…
Contrasting medium and genre on Wikipedia to open up the dominating definition and classification of geoengineering
Geoengineering is typically defined as a techno-scientific response to climate change that differs from mitigation and adaptation, and that includes diverse individual technologies, which can be classified as either solar radiation management or carbon dioxide removal. We analyse the representation of geoengineering on Wikipedia as a way of opening up this dominating, if contested, model for further debate. We achieve this by contrasting the domi…
Subordinated Financial Integration and Financialisation in Emerging Capitalist Economies: The Brazilian Experience
This paper analyses the recent changes in financial practices and relations in emerging capitalist economies (ECEs) using the example of Brazil. It argues that in ECEs these financial transformations, akin to the financialisation phenomena observed in Core Capitalist Economies (CCEs), are fundamentally shaped by their subordinated integration into a financialised and structured world economy. To analyse this subordinated financialisation, the pap…
The US Dollar's Continuing Hegemony as an International Currency: A Double-matrix Analysis
The standard framework for debating the international currency system casts doubt on the dollar's continuing hegemonic position because it raises questions regarding the ability of the US to finance its external liabilities in the face of worsening economic fundamentals. This article addresses these questions by adding to the usual matrix linking the international functions of money to two different types of agents, private and official, a second…
The Impossible Trinity: Inflation Targeting, Exchange Rate Management and Open Capital Accounts in Emerging Economies
This article contributes to the debate on macroeconomic management and capital account regulations in developing and emerging countries (DECs). It argues that the recommendation by neoclassical economists and international financial institutions (IFIs) to combine an inflation-targeting regime with exchange rate management, whilst maintaining open capital accounts, is not only impossible but also potentially counterproductive. The article draws on…
The International Dimension of Financialization in Developing and Emerging Economies
This contribution discusses the international aspect of financialization in developing and emerging economies (DEEs). It argues that international financialization is more than just an increase in cross-border capital flows but entails distinct qualitative changes in the way economic agents are integrated into international financial markets. Moreover, in line with the emerging literature on subordinated financialization, the article shows how th…
Liability-driven investment and pension fund exposure to emerging markets: A Minskyan analysis
This paper explores the determinants and implications of the growing allocation of insurance companies and pension funds to emerging markets. The key contention put forward is that liabilities are at the core of the portfolio choice of insurance companies and pension funds, and that this has important consequences for the stability of asset demand. The paper supports this contention with a theoretical framework based on Hyman Minsky and the resul…
Critical macro-finance, Post Keynesian monetary theory and emerging economies
In our contribution to this forum, we suggest that critical macro-finance (CMF) scholars and Post Keynesian monetary theorists would profit from a more explicit engagement with each other. Post Keynesian scholars would benefit from the detailed empirical insights that CMF provides, particularly through its analysis of non-bank financial institutions and the conceptual focus on liquidity and liabilities. Meanwhile, the CMF literature would benefit…
International financial subordination: A critical research agenda
Despite a varied picture in terms of their relative economic strength, Developing and Emerging Economies (DEEs) remain in a subordinate position in the global monetary and financial system. While the IPE and economics literatures provide rich insights about the significance of this phenomenon, research efforts remain fragmented. To address this problem, we offer an umbrella concept—international financial subordination (IFS)—to channel research e…
South-South monetary regionalism: A case of productive incoherence
The variety of monetary and regional cooperation institutions often is characterised as uneven, fragmented, and partially contested. In contrast to this narrative, Grabel (Citation2018) applies a Hirschmanian mindset to monetary and regional cooperation that highlights the experimental nature of recent innovations as a ‘productive incoherence’. This paper presents a case study of such productive incoherence. We examine the institutional set up of…
UK pension funds’ patience and liquidity in the age of market-based finance
Pension funds have often failed to meet expectations in terms of providing ‘patient capital’. Explanations for this lapse have ranged over regulatory and ideational factors. We argue that a new ‘impatient’ phenomenon is emerging that requires further explanation: pension funds are becoming more mindful of their liquidity and collateral management, and engage in pro-cyclical investment behaviour. We show how UK pension funds have adapted their inv…
Local Currency Bond Markets in Africa: Resilience and Subordination
This article examines the development and implications of local currency bond markets (LCBMs) in African countries in the context of international financial subordination (IFS). Despite the promotion of LCBMs as a solution to debt vulnerability, there is a dearth of research that offers a systematic empirical examination of their actual benefits along with conceptual explanations as to when and why such benefits may or may not materialize. This i…
Asset-manager society and international financial subordination
This essay critically engages with the concept of asset-manager society (AMS) proposed by Brett Christophers. We begin by drawing out its five key elements through a contrast with the related but distinct concept of asset-manager capitalism. We then ask to what extent AMS can be observed in the countries of the Global South, which are characterised by a subordinate position in international money and financial markets. We conclude by highlighting…
Global Reparations within Capitalism: Aspirations and Tensions in Contemporary Movements for Reparatory Justice
The idea of global reparations has received increasing attention in recent years, not only with respect to legacies of slavery and colonialism, but also to interrelated issues such as climate change, debt crisis, or ongoing financial transfers from the Global South to the Global North. This article, which introduces and sets the Debate for the 2024 Forum issue on the political economy of 21st century global reparations, offers a critical perspect…
International financial subordination in the age of asset manager capitalism
The rise of asset managers as key nodes of financial intermediation has been one of the most fundamental changes in the global economy over recent years. An emerging literature on asset manager capitalism (AMC) discusses these changes and its implications, though largely in the context of corporate governance in advanced capitalist economies. This paper expands the remit of the AMC literature to spaces outside the global capitalist core, and asse…
Assessing financialization under international financial subordination: A mixed-methods study of Brazilian and Turkish non-financial corporations
This article investigates the changing financial behaviour of Brazilian and Turkish non-financial corporations (NFCs) in the context of international financial subordination. Recent empirical evidence shows that emerging capitalist economies' (ECEs) NFCs have increased their holdings of very short-term financial assets (mainly cash), whilst borrowing heavily from (international) financial markets and banks. Drawing on an extensive mixed-method st…
Are traditional hazard-based weather warnings anticipating local impact
Hazard-based weather warnings alert decision makers, responders, and the population about meteorological risks, yet often overlook data on vulnerability and exposure, relying instead on fixed or climatology-based thresholds. This raises questions about their effectiveness at higher resolutions, as weather impacts are ultimately determined by local characteristics. This work addresses this gap by providing the first quantitative and high-resolutio…
Finance (13 works) · Economics (11 works) · Banking stability, regulation, efficiency (9 works) · Business (9 works) · Economic Theory and Policy (9 works) · Global Financial Crisis and Policies (9 works) · Political science (9 works) · Housing, Finance, and Neoliberalism (6 works) · Emerging markets (5 works) · Financial system (5 works)