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Latest Posts
  • Draghi’s historic farewell
  • Reply to Larry Summers
  • The Prudence Principle: a new rule for fiscal policy
  • Cyclical sovereignty

Author Eric Lonergan

Eric Lonergan

Eric Lonergan is a macro fund manager, economist, and writer. His most recent book is Money (2nd ed) published by Routledge. He is also a supporter of Big Issue Invest (BII), the investment arm of The Big Issue, and is one of the initial limited partners in BII’s Social Enterprise Investment Fund LP. In a personal capacity, he makes direct investments in social enterprises. He also supports and advises The Empathy Museum.

Draghi’s historic farewell

Eric Lonergan
15th September 2019
Helicopter Money, Monetary Policy, Money in Europe
6
This week’s policy decision by ECB is historic. For some time now, a number of economists have suggested that dual interest rates are the logical next step in the arsenal of central banks. Dual interest rates r...

Reply to Larry Summers

Eric Lonergan
26th August 2019
Finance & Asset Pricing, Helicopter Money, Monetary Policy
3
An ‘Either-Or’ approach to fiscal and monetary policy is mistaken Larry Summers has delivered a pointed and sweeping critique of the prevailing consensus among central bankers. He rightly asserts that relian...

The Prudence Principle: a new rule for fiscal policy

Eric Lonergan
23rd August 2019
Helicopter Money, Monetary Policy, Money in Europe, Theory & Other Problems
Should the government run a budget deficit or a budget surplus? What size should the deficit or surplus be? Devising a rule which allows the public to assess the integrity of government is a major challenge...
article placeholder

Japan debt monetisation (2012)

Eric Lonergan
12th August 2019
Uncategorised
Drobny 2012 Japan...

Cyclical sovereignty

Eric Lonergan
26th July 2019
Media, Monetary Policy, Money in Europe
2
Only two of the world’s major economic blocks appear to have cyclical autonomy - China and the United States. For many decades now, Japan’s ability to stimulate domestic demand has been trivial relative to cycl...

The most important social scientist since Keynes

Eric Lonergan
5th July 2019
Theory & Other Problems
2
Three validity claims The German social scientist, Jürgen Habermas, has just turned ninety. It is an odd reflection on our times that he is not renowned. In an age of academic specialisation this may reflect o...

Dual interest rates always work

Eric Lonergan
5th June 2019
Helicopter Money, Monetary Policy, Money in Europe
4
The future of monetary policy - Dual interest rates The significance of dual interest rates remains under-appreciated. The European Central Bank, Bank of Japan, and the Bank of England’s facilities are by fa...
central bank’s balance sheet

Presentation on dual interest rates

Eric Lonergan
16th May 2019
Definitions of Money, Helicopter Money, Monetary Policy, Money in Europe
PM Europe roundtable...

It’s time for the ECB to use its monetary power

Eric Lonergan
28th March 2019
Helicopter Money, Monetary Policy, Money in Europe
1
Eurozone growth has stalled and inflation is below the ECB’s definition of price stability. As the recent actions of ECB make clear, further monetary easing is necessary for the ECB to fulfil its mandate. Un...

A reply to Stephanie Kelton

Eric Lonergan
19th March 2019
Definitions of Money, Monetary Policy, Theory & Other Problems
21
The crux of the MMT debate This recent article by Stephanie Kelton is crystal clear and reveals the crux of the ‘MMT debate’. It’s all about central bank independence. Also listen to this INET interview wi...
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Reviews of Eric’s book

  • Reviews of Eric’s book

    Eric Lonergan
    9th August 2014

In the press

  • CNBC: market sell-off is ‘noise’

    Eric Lonergan
    17th February 2018
  • Monetary policy & babysitting: why rates are so low, and ‘what’s next?’

    Eric Lonergan
    7th August 2016
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