Special Issue "Monetary and Financial Sustainability in a Post COVID-19 World"

A special issue of Sustainability (ISSN 2071-1050). This special issue belongs to the section "Economic and Business Aspects of Sustainability".

Deadline for manuscript submissions: 3 July 2023.

Special Issue Editors

Prof. Dr. Philipp Bagus
Guest Editor
Department of Applied Economics, History and Economic Institutions and Moral Philosophy, Universidad Rey Juan Carlos, 28032-Vicálvaro Campus, Madrid, Spain
Interests: Public Policies; Monetary Theory; European Union; Business Cycle Theory; Libertarian Philosophy; Business Ethics
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Prof. Dr. Antonio Sánchez-Bayón
Guest Editor
Department of Applied Economics, Universidad Rey Juan Carlos, 28032 Madrid, Spain
Interests: global economics and cross-cultural management; comparative and cultural studies; religion and economics; identity politics
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Prof. Dr. Miguel A. Alonso Neira
Guest Editor
Department of Applied Economics, History and Economic Institutions and Moral Philosophy, Universidad Rey Juan Carlos, 28032-Vicálvaro campus, Madrid, Spain
Interests: Monetary Policy, Monetary Theory; Business Cycle Theory; Currency and Financial Crisis
Prof. Dr. José Antonio Peña-Ramos
Guest Editor
Department of Political Science and Public Administration, University of Granada, C/ Rector López Argüeta, s/n, 18071-Granada, Spain
Interests: Energy Security; Geostrategy of Energy Resources; Water; Russia; Libertarian Political Theory
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Special Issue Information

Dear Colleagues,

The situation of the world´s monetary and financial system is exceptional. Central banks are engaging in negative-interest-rate policies and quantitative easing. Government debts are at record highs. At the same time, the world is suffering the consequences of unprecedented lockdowns and the COVID-19 pandemic, which will require more financial engineering that will put the sustainability of the financial system at risk. The sustainability of the monetary and financial world is in question, and alternatives need to be explored. Major changes to the structure of the international monetary system may lie ahead. Christine Lagarde, when President of the IMF, declared that central banks should consider issuing their own digital currencies. At the same time, US President Donald Trump nominated Judy Shelton, a supporter of the gold standard, for the Federal Reserve’s board of governors. It is unclear how long the combination of fractional-reserve banking, a struggling and under-capitalized banking sector, an over-indebted private economy, a fiscally strained public sector, and the COVID-19 crisis will be sustainable. This Special Issue is dedicated to the sustainability issues related to our current monetary and financial system in a post COVID-19 world. Contributions to the Special Issue will examine the sustainability of government finances, the banking sector, the financial system at large, and price-stability policies, as well as alternative monetary systems, such as cryptocurrencies, and their sustainability. In this respect, it is important to examine the effects a monetary system may have on the environment in the form of business cycles, resource costs, and, particularly in the case of cryptocurrencies, energy costs. Contributions may also investigate the sustainability of monetary systems via case studies analyzing past crises and their social and cultural consequences. Articles may also approach the topic from an ethical point of view.

The following topics are addressed:

  • Sustainability of fractional reserve banking
  • Sustainability of unconventional monetary policies
  • Sustainability of the banking sector
  • Exit strategies from unconventional monetary policies
  • Reforms of the banking sector and the monetary system
  • Sustainability of price stability
  • Effects of a monetary system on the environment
  • Cryptocurrencies, energy and transaction costs
  • Sustainability of government finances
  • Comparison of alternative monetary systems
  • Comparison of resource costs of financial and monetary systems
  • The effects of government finances on the environment
  • Sustainability of financial capitalism
  • Conditions of a sustainable development and economic growth
  • The sustainability of the Eurosystem
  • Financial systems & tax havens
  • Ethics of money and banking

Prof. Dr. Philipp Bagus
Prof. Dr. Antonio Sánchez-Bayón
Prof. Dr. Miguel A. Alonso Neira
Prof. Dr. José Antonio Peña-Ramos
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All papers will be peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Sustainability is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1900 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.


  • Monetary policy and economics
  • Business and financial cycles
  • Cryptocurrencies
  • Monetary sustainability
  • Currency competition
  • Energy costs
  • Transaction costs
  • Government finance
  • Banking sustainability
  • Debt sustainability
  • Sustainable development
  • Monetary economics
  • Digitalization
  • Financial economics
  • Sustainable economic growth
  • Eurosystem
  • Banking crisis
  • Financial crisis
  • Tax haven
  • Ethics

Published Papers

This special issue is now open for submission.
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