8th Budapest Public Finance Seminar: Sovereign Money

Co-organizers: Konrad Adenauer Stiftung (KAS), Hungarian Economic Association (MKT)

Date: Wednesday, 13 May 2026, 09:30–16:40

Venue: Ludovika University of Public Service, Main Building, Zrínyi Hall

Registration in e-mail: hurja.bettina@uni-nke.hu 

Programme

09:30–10:00 — Registration

10:00–10:10 — Opening Remarks, Gábor Kemény, Vice-Rector

10:10–10:15 — Welcome Remarks, Balázs Bartóki-Gönczy, Vice-Dean, Faculty of Public Governance and International Studies

10:15–11:15 — Keynote Speech

Michael Kumhof (CEPR; NIESR): The Chicago Plan Revisited: New Insights

11:15–11:40 — Coffee Break

11:40–13:00 — Session I: Money Creation and Monetary Theory

Josh Ryan-Collins (University College London): The Fiscal Dominance Taboo

Richard Werner (University of Southampton, Corvinus University of Budapest): How Money Is Created: Competing Theories on the Role of Banks

13:00–14:00 — Lunch Break

14:00–15:00 — Session II: Sovereign Money and MMT

Gergely Szabó (Author of National Money): Defining Sovereign Money — Distinguishing It from Other Financial Systems and Schools of Thought

Eric Tymoigne (Lewis & Clark College): Chartalism and Money Theory: State Money and Beyond

15:00–15:20 — Coffee Break

15:20–16:20 — Session III: Practical Implications for Financial Systems

Svatopluk Kapounek (Mendel University): Foreign Bank Ownership and Lending Dynamics in Post-Transition Economies

Pál Péter Kolozsi (ÁKK - Government Debt Management Agency): Digitalization and Government Bond

Vivien Czeczeli (Ludovika University of Public Service): Money Creation in Hungary: Trends and Implications for Monetary Reform