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Analysis and insight into trends
in money and banking, and their impact
on the world's leading economies

Staff research

Our staff publish regularly in academic journals and in edited volumes of monetary economics and monetary policy, the details of which can be found here

Research papers

The Institute also publishes a research paper series. The papers are written mostly by the Institute's staff and members of the economics department at the University of Buckingham. However, contributions from outside the Institute and the University of Buckingham may sometimes be welcome. In particular, the Institute publishes a version of any guest lectures given under its auspices. Further, it is keen to promote the writing-up of seminar and conference papers.

Research papers can be accessed here and available for download in PDF format.

Monthly monetary update

Each month, we normally produce a summary of money trends in the world's leading economies along with an accompanying video. The current update can be accessed here.

Conference Papers

The Institute of International Monetary Research organises occasional conferences on the subjects of money and banking (See our events page for details of future events.) Papers from past conferences can be accessed here.




Banking and finance in the early years of the United States of America were chaotic. Two of the founding fathers - Thomas Jefferson and James Madison - were hostile to banking, since the issue of paper money led to inflation and default. According to Jefferson,

"...banking establishments are more dangerous than standing armies"

The Great Recession of 2008 - 09 renewed concern about the potential role of the banking system in social and financial instability, and argued for more research and analysis about this critical topic.

Mission Statement

The purpose of the Institute of International Monetary Research is to demonstrate and bring to public attention the strong relationship between the quantity of money on the one hand, and the levels of national income and expenditure on the other.

The Institute is heavily involved in the analysis of banking systems, particularly their role in the creation of new money balances. The relationships between money and national income/expenditure hold in all countries over long periods, and the Institute's research covers many countries. The "quantity theory of money" could be characterized as an "always-and-everywhere theory".

The Institute - which is associated with the University of Buckingham in England - was set up in 2014, in the aftermath of the Great Financial Crisis (a.k.a., "the Great Recession") of 2007 - 2009. It is an educational charity.

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