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All Outputs (2)

The dangerous fiction of the "fiscal black hole" (2022)
Report
Michell, J., & Calvert Jump, R. (2022). The dangerous fiction of the "fiscal black hole". Progressive Economy Forum

Media reporting of the economy and choices facing the new Prime Minister and Chancellor has focused on a supposed ‘black hole’ in the public finances, typically given as being around £50bn in five years’ time. This has been presented as an urgent pri... Read More about The dangerous fiction of the "fiscal black hole".

FX swaps, shadow banks and the global dollar footprint (2022)
Journal Article
Dafermos, Y., Gabor, D., & Michell, J. (2023). FX swaps, shadow banks and the global dollar footprint. Environment and Planning A, 55(4), 949-968. https://doi.org/10.1177/0308518X221128302

The era of dollar-based financial globalisation has seen a steady rise in the use of foreign exchange (FX) swaps. We provide a macrofinancial political economy perspective on the geography of FX swaps, and the spatial effects of central bank policies... Read More about FX swaps, shadow banks and the global dollar footprint.