Editorial Team

Michael Kumhof is Senior Research Advisor in the Research Hub of the Bank of England. He is responsible for co-leading this unit, and for helping to formulate parts of its research agenda. His previous position was Deputy Division Chief, Economic Modelling Division, IMF, where his responsibilities included the development of the IMF’s global DSGE simulation model. His main research interests are monetary system reform (including CBDC and narrow banking), the role of banks as creators of the money supply and the implications of this for the macro-economy, the role of economic inequality in causing imbalances and crises, the macroeconomic effects of fossil fuel depletion, and the macroeconomic implications of economic rents (including their taxation). Michael taught economics at Stanford University from 1998 to 2004. He worked in corporate banking for Barclays Bank from 1988 to 1993. His work has been published by AER, JME, AEJ Macro, JIE, JEDC, JMCB, EER, and Journal of Macroeconomics, among others. Dr Kumhof is a citizen of Germany.