Stefano Lucarelli

Stefano Lucarelli is a full professor of economic policy at the University of Bergamo who studies how money gets created and who is allowed to create it. He has published on monetary sovereignty and on what happens to central bank policy once cryptocurrencies and complementary currencies are in circulation. He was a researcher on the European D-CENT and DECODE projects, which designed and field-tested digital social currencies for cities and cooperatives. His Cambridge Journal of Economics work models local clearing unions and shows how a mutual credit circuit can steady a local economy when bank lending pulls back.