Jens van 't Klooster on Recent ECB Policy: A Paradigm Shift Without Legislative Change

Macro Musings with David Beckworth

Jens van 't Klooster is a political economist at the University of Amsterdam's Department of Political Science. Jens rejoins David on Macro Musings to discuss the changes taking place at the European Central Bank. Specifically, Jens and David talk about the ECB’s recent commitment to a gradual process of monetary tightening, the prospect and limitations of market neutrality in setting monetary policy, the rise of technocratic Keynesianism and questions surrounding the political legitimacy of the ECB’s recent policy decisions, as well as the politics surrounding the ECB’s approach to government debt.

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Transcript for the episode can be found here.

Jens’s Twitter: @jvklooster

Jens’s website: https://jensvantklooster.com/

Related Links:

*The Myth of Market Neutrality: A Comparative Study of the European Central Bank’s and the Swiss National Bank’s Corporate Security Purchases* by Jens van ’t Klooster and Clément Fontan

https://www.tandfonline.com/doi/full/10.1080/13563467.2019.1657077

*Technocratic Keynesianism: A Paradigm Shift Without Legislative Change* by Jens van ’t Klooster

https://www.tandfonline.com/doi/full/10.1080/13563467.2021.2013791

*The Politics of the ECB’s Market-Based Approach to Government Debt* by Jens van ’t Klooster

https://academic.oup.com/ser/advance-article/doi/10.1093/ser/mwac014/6554757

David’s blog: macromarketmusings.blogspot.com David’s Twitter: @DavidBeckworth