Annina Kaltenbrunner
Biographic Data
| ID | 3696358 |
|---|---|
| NAME | Annina Kaltenbrunner |
| GIVEN NAMES | Annina |
| FAMILY NAME | Kaltenbrunner |
| SIGNATURE | KALTENBRUNNER A |
| VERIFIED | No |
| TOTAL WORKS | 8 |
| TOTAL CITATIONS | 59 |
| AUTHOR COUNT | 8 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 2010 |
| LATEST PUBLICATION YEAR | 2024 |
| H-INDEX | 5 |
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…
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…
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…
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…
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…
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…
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…
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…
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…
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 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…
Finance (7 works) · Banking stability, regulation, efficiency (6 works) · Economics (6 works) · Global Financial Crisis and Policies (6 works) · Business (5 works) · Monetary economics (5 works) · Economic Theory and Policy (4 works) · Emerging markets (4 works) · Finance (4 works) · Capital (architecture) (3 works)