Michael Kumhof (Bank of England) Banks are not intermediaries of loanable funds — and why this matters

This week's speaker will be Michael Kumhof from the Bank of England with "Banks are not intermediaries of loanable funds — and why this matters". 

Michael says; "My main research interests are monetary economics, monetary reform (including full reserve banking and central-bank-issued digital currencies), the monetary role of banks and their interactions with the real economy (including their effects on financial cycles, including asset price booms), the modelling of gross capital flows, the effects of capital controls, the role of income inequality in causing imbalances and crises, and the macroeconomic effects of fossil fuel depletion".