Year: 2025

We’re delighted to share that Prof. Richard A. Werner (ARBE Convenor) and Dr. Konstantinos Voutsinas have a new article published in Structural Change and Economic Dynamics: Title: Trade-off theory vs. the pecking order hypothesis: Japanese evidence on capital structure under financial constraintsJournal: Structural Change and Economic Dynamics, Vol. 74 (September 2025), pp. 944–962DOI: 10.1016/j.strueco.2025.06.004Link (ScienceDirect):…

We’re delighted to share that Dr. Plamen Ivanov, Director at the Association for Research on Banking and the Economy (ARBE), has a new article published in Qualitative Research in Financial Markets: Title: Spatial Mapping of Banking Systems: Understanding the Finance–Space Nexus in Germany and the UKJournal: Qualitative Research in Financial Markets (QRFM)Link (abstract): https://www.emerald.com/qrfm/article-abstract/doi/10.1108/QRFM-01-2025-0006/1302539/Spatial-mapping-of-banking-systems-understanding What…

We’re delighted to report a successful week at Linacre College, Oxford: 20+ participants from 7 nationalities joined ARBE’s Frontiers in Economics programme for a deep dive into money, banking, and real-world policy. Guest lecturers & highlights 🔥 A special fireside chat with former UK Prime Minister offered candid insights on the interaction between the real…

📰 Prof. Richard Werner on Tucker Carlson — July 28, 2025 In a wide-ranging interview, Prof. Richard Werner explains—plainly and empirically—how commercial banks create new money when they extend credit, why mainstream “banks-as-intermediaries” models miss this core mechanism, and how credit allocation—not just rates—drives inflation, asset booms/busts, and real growth. He also touches on the…