Dr. J.M. (Jens) van 't Klooster
Associate Professor
Faculty of Social and Behavioural Sciences
Programme group: Political Economy and Transnational Governance
Area of expertise: Money, politics of international financial governance, technocratic legitimacy, climate and environmental impact of the financial system, European Monetary Union
Visiting address
- Nieuwe Achtergracht 166
Postal address
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Postbus 15578
1001 NB Amsterdam
Contact details
Social media
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Profile
My research examines the governance of money and finance, with particular attention to the evolving role of technocratic institutions and the environmental and social impact of their choices.
Research expertise
- Money
- politics of international financial governance
- technocratic legitimacy
- climate and environmental impact of the financial system
- European Monetary Union
Media appearances
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Teaching
- Integratiepracticum 2: Duurzaamheid
- Contested Market Liberalism
- BA thesis supervision (political economy of sustainability)
PhD supervision
I supervise Luca Kokol on how large banks and central banks interact in the market for European sovereign debt, Valerie Schreur on the ethics of credit to businesses, and Anne Kervers on the design of the banking and climate policy, and Maarten Bokhorst on climate adaptation to housing in the Netherlands.
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Publications
- refereed (20)
- academic (10)
- professional (10)
- popular scientific (10)
- conference contributions (1)
- recognitions (3)
- working papers / preprints (5)
2025
Dikau, S., Robins, N., Smoleńska, A., van’t Klooster, J., & Volz, U. (2025). Prudential net zero transition plans: the potential of a new regulatory instrument. Journal of Banking Regulation, 26(1), 85-99. https://doi.org/10.1057/s41261-024-00247-w [details]- Helleiner, E., DiLeo, M., & van 't Klooster, J. (2025). Financial technocrats as competitive regime creators: The founding and design of the Network for Greening the Financial System. Regulation and Governance, 19(3), 901-916. https://doi.org/10.1111/rego.12629 [details]
- van 't Klooster, J. (2025). Central Banks. In R. Bellamy, & J. King (Eds.), The Cambridge Handbook of Constitutional Theory (pp. 622-638). (Cambridge Law Handbooks). Cambridge University Press. https://doi.org/10.31219/osf.io/4t2fr, https://doi.org/10.1017/9781108868143.041 [details]
2024
- Bateman, W., & van 't Klooster, J. (2024). The dysfunctional taboo: Monetary financing at the Bank of England, the Federal Reserve and the European Central Bank. Review of International Political Economy, 31(2), 413-437. https://doi.org/10.1080/09692290.2023.2205656 [details]
- de Boer, N. J., van 't Klooster, J. M., & Grünewald, S. N. (in press). The law and politics of independent policy coordination: fiscal and sustainability considerations in the European Central Bank’s monetary policy. In A. Kern, & S. Grünewald (Eds.), Central Banking and Sustainability Cambridge University Press. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4827387
- van 't Klooster, J. (2024). The Case for a European Credit Council: Historical and Constitutional Fine-Tuning. Accounting, Economics, and Law: A Convivium, 14(4), 519-532. https://doi.org/10.1515/ael-2022-0074 [details]
2023
- Grünewald, S., & van 't Klooster, J. (2023). New strategy, new accountability? The European Central Bank and the European Parliament after the strategy review. Common Market Law Review, 60(4), 959-998. https://kluwerlawonline.com/JournalArticle/Common+Market+Law+Review/60.4/COLA2023071 [details]
- Murau, S., & van 't Klooster, J. (2023). Rethinking Monetary Sovereignty: The Global Credit Money System and the State. Perspectives on Politics, 21(4), 1319-1336. https://doi.org/10.1017/S153759272200127X [details]
- van 't Klooster, J. (2023). Reflections on the 2022 Nobel Memorial Prize Awarded to Ben Bernanke, Douglas Diamond, and Philip Dybvig. Erasmus Journal for Philosophy and Economics, 16(1), 97-118. https://doi.org/10.23941/ejpe.v16i1.745 [details]
- van 't Klooster, J. (2023). The Politics of the ECB’s market-based approach to government debt. Socio-Economic Review, 21(2), 1103-1123. https://doi.org/10.1093/ser/mwac014 [details]
- van 't Klooster, J., & de Boer, N. (2023). What to do with the ECB’s secondary mandate. Journal of Common Market Studies, 61(3), 730-746. https://doi.org/10.1111/jcms.13406 [details]
2022
- Smoleńska, A., & van 't Klooster, J. (2022). A risky bet: Climate change and the EU’s microprudential framework of banks. Journal of Financial Regulation, 8(1), 51–74. https://doi.org/10.1093/jfr/fjac002 [details]
- van 't Klooster, J. (2022). Marginalism and scope in the early Methodenstreit. Journal of the History of Economic Thought, 44(1), 105-124. https://doi.org/10.1017/S1053837220000413 [details]
- van 't Klooster, J. (2022). Technocratic Keynesianism: A paradigm shift without legislative change. New Political Economy, 27(5), 771-787. https://doi.org/10.1080/13563467.2021.2013791 [details]
- van 't Klooster, J. (2022). The ECB’s Collateral Framework from the 1990s until the Pandemic. In T. Beukers, D. Fromage, & G. Monti (Eds.), The New European Central Bank: Taking Stock and Looking Ahead (pp. 80-102). Oxford University Press. https://doi.org/10.1093/oso/9780198871231.003.0004 [details]
2021
- van 't Klooster, J. (2021). Herontdekking van de geldpers vereist nieuwe visie op staatsschuld. Economisch-Statistische Berichten, 106(4796), 171-173. https://esb.nu/herontdekking-van-de-geldpers-vereist-nieuwe-visie-op-staatsschuld/ [details]
2020
- de Boer, N., & van 't Klooster, J. (2020). The ECB, the courts and the issue of democratic legitimacy after Weiss. Common Market Law Review, 57(6), 1689-1724. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3712579 [details]
- van 't Klooster, J. M. (2020). The Ethics of Delegating Monetary Policy. The Journal of Politics, 82(2), 587-599. https://doi.org/10.1086/706765
- van 't Klooster, J. M., & Fontan, C. (2020). The Myth of Market Neutrality: A Comparative Study of the European Central Bank’s and the Swiss National Bank’s Corporate Security Purchases. New Political Economy, 25(6), 865-879. https://doi.org/10.1080/13563467.2019.1657077
2019
- van 't Klooster, J. (2019). Central Banking in Rawls's Property-Owning Democracy. Political Theory, 47(5), 674-698. https://doi.org/10.1177/0090591718810377
2025
- Martino, E. D., Monnet, E., & van 't Klooster, J. M. (2025). Cryptomercantilism vs. Monetary Sovereignty Dealing with the Challenges of US Stablecoins for the EU. (Monetary Dialogue Papers). https://www.europarl.europa.eu/cmsdata/296400/DEZERNAT%20June%202025_FINAL.pdf
- Martino, E. D., van 't Klooster, J. M., & Monnet, E. (2025). The GENIUS Act and the US Cryptomercantilism: Which Challenges for Europe and the Euro?. Web publication or website, Oxford Business Law Blog. https://blogs.law.ox.ac.uk/oblb/blog-post/2025/07/genius-act-and-us-cryptomercantilism-which-challenges-europe-and-euro
- Martino, E. D., van 't Klooster, J. M., & Monnet, É. (2025). US dollar stablecoin mercantilism is an opportunity to promote payment multilateralism and the international role of the euro. Web publication or website, VoxEU. https://cepr.org/voxeu/columns/us-dollar-stablecoin-mercantilism-opportunity-promote-payment-multilateralism-and
2024
- Colesanti Senni, C., Pagliari, M. S., & van 't Klooster, J. (2024). Central banks’ targeted refinancing operations and the climate transition. (SUERF Policy Brief; No. No 793 ). SUERF. https://www.suerf.org/publications/suerf-policy-notes-and-briefs/central-banks-targeted-refinancing-operations-and-the-climate-transition/ [details]
- van 't Klooster, J., & Monnet, E. (2024). Mandates are never narrow: How monetary policy can be green and democratic. Web publication or website, Just Money. https://justmoney.org/mandates-are-never-narrow-how-monetary-policy-can-be-green-and-democratic/ [details]
- van 't Klooster, J., & Weber, I. M. (2024). Closing the EU’s inflation governance gap: The limits of monetary policy and the case for a new policy framework for shockflation. (Study; No. PE 755.727). Economic Governance and EMU Scrutiny Unit, European Parliament. https://doi.org/10.2861/712132 [details]
2023
- Monnet, E., & van 't Klooster, J. (2023). Using green credit policy to bring down inflation: what central bankers can learn from history. (The INSPIRE Sustainable Central Banking Toolbox: Policy Briefing Paper; No. 13). SOAS Centre of Sustainable Finance. https://www.inspiregreenfinance.org/publications/using-green-credit-policy-to-bring-down-inflation-what-central-bankers-can-learn-from-history/ [details]
2022
- Dikau, S., Robins, N., Smoleńska, A., van 't Klooster, J. M., & Voltz, U. (2022). Net zero transition plans: A supervisory playbook for prudential authorities. LSE Grantham Research Institute on Climate Change and the Environment. https://www.lse.ac.uk/granthaminstitute/wp-content/uploads/2022/11/Net-zero-transition-plans-a-supervisory-playbook-for-prudential-authorities.pdf
- van 't Klooster, J. M. (2022). The European Central Bank’s strategy, environmental policy and the new inflation: A case for interest rate differentiation. LSE Grantham Research Institute on Climate Change and the Environment. https://www.lse.ac.uk/granthaminstitute/publication/the-european-central-banks-strategy-environmental-policy-and-the-new-inflation/
- van 't Klooster, J. M., & Grünewald, S. (2022). An EP-ECB Interinstitutional Agreement on Monetary Policy. European Parliament Greens/EFA group. https://extranet.greens-efa.eu/public/media/file/1/7844
2024
- Libman, E., Colodenco, M., Wiedenbrug, A., van 't Klooster, J., Murawski, S., Tordoir, S., & Waibel, M. (2024). Making the IMF Fit for Purpose: An Analysis and a Proposal for Reforming the Fund's Current Interest Rate Policy. (T20. Policy Briefs). T20. https://doi.org/10.2139/ssrn.5010830 [details]
- Monnet, É., van 't Klooster, J., & Leonard, C. (2024). Rendre la BCE plus verte et démocratique. Institut Avant-garde. https://www.institutavantgarde.fr/rendre-la-bce-plus-verte-et-democratique/
- Monnet, É., van 't Klooster, J., & Leonard, C. (2024). Grüne Geldpolitik: Wie die EZB zur ökologischen Transformation beitragen kann. Web publication or website, Finanzwende Recherche. https://www.finanzwende-recherche.de/blog/gruene-geldpolitik-wie-die-ezb-zur-oekologischen-transformation-beitragen-kann/ [details]
- Schultz, A., Senn, M., & van 't Klooster, J. (2024). Restoring Trust in Sustainable Finance: The Role of Active Supervision in Greenwashing Scandals. Finanzwende. https://www.finanzwende.de/the-cost-of-greenwashing-how-active-supervision-can-restore-trust-in-sustainable-finance [details]
- Smoleńska, A., Feyertag, J., Reitmeier, L., Dikau, S., & van 't Klooster, J. (2024). Submission to the BCBS consultation on a disclosure framework for climate-related financial risk. The London School of Economics and Political Science. https://cetex.org/publications/submission-to-the-bcbs-consultation-on-a-disclosure-framework-for-climate-related-financial-risk/ [details]
- Weber, I., & van 't Klooster, J. (2024). Shockflation Has Uprooted the European Union: High Time for New Policy Tools. Groupe d'études géopolitiques. https://geopolitique.eu/en/2024/06/14/shockflation-has-uprooted-the-european-union-high-time-for-new-policy-tools/ [details]
2022
- van 't Klooster, J. (2022). Bestrijd inflatie via prijsplafond en winstmeevallerbelasting. Economisch-Statistische Berichten, 107(4812), 365. https://esb.nu/bestrijd-inflatie-via-prijsplafond-en-winstmeevallerbelasting/ [details]
2021
- de Boer, N., & van 't Klooster, J. (2021). The ECB's Neglected Secondary Mandate: an Interinstitutional Solution. PositiveMoney Europe. https://www.positivemoney.eu/2021/10/report-ecb-neglected-secondary-mandate/ [details]
- de Boer, N., & van 't Klooster, J. (2021). The ECB Cannot Ignore its Secondary Mandate. Web publication or website, Verfassungsblog. https://doi.org/10.17176/20211125-185434-0 [details]
2020
- van 't Klooster, J. M., & van Tilburg, R. (2020). Targeting a sustainable recovery with Green TLTROs. Positive Money Europe and Sustainable Finance Lab. http://www.positivemoney.eu/wp-content/uploads/2020/09/Green-TLTROs.pdf
2024
- Monnet, É., & van 't Klooster, J. M. (2024). La Banque centrale européenne a déjà, de fait, un mandat environnemental. Le Monde. https://www.lemonde.fr/idees/article/2024/05/17/la-banque-centrale-europeenne-a-deja-de-fait-un-mandat-environnemental_6233826_3232.html?lmd_medium=al&lmd_campaign=envoye-par-appli&lmd_creation=ios&lmd_source=default
2021
- Claeys, G., Berès, P., de Boer, N., Demetriades, P., Diessner, S., Jourdan, S., van 't Klooster, J., & Schmidt, V. (2021). BCE: la importancia de sus mandatos secundarios. El Economista. https://www.eleconomista.es/opinion-blogs/noticias/11188741/04/21/BCE-la-importancia-de-sus-mandatos-secundarios.html
- de Boer, N. J., van 't Klooster, J. M., & Beckmann, M. (2021). Das Sekundärziel der EZB ist alles andere als zweitrangig. Makronom. https://makronom.de/geldpolitik-das-sekundaerziel-der-ezb-ist-alles-andere-als-zweitrangig-40560
- de Boer, N. J., van 't Klooster, J. M., Berès, P., Demetriades, P., Schmidt, V., Diessner, S., Jourdan, S., & Claeys, G. (2021). De ECB kan het niet zonder politieke sturing. NRC Handelsblad. https://www.nrc.nl/nieuws/2021/04/25/de-ecb-kan-het-niet-zonder-politieke-sturing-a4041218
- de Boer, N. J., van 't Klooster, J. M., Berès, P., Demetriades, P., Schmidt, V., Diessner, S., Jourdan, S., & Claeys, G. (2021). Die EZB braucht politische Vorgaben für ihre Sekundärziele. Makronom. https://makronom.de/die-ezb-braucht-politische-vorgaben-fuer-ihre-sekundaerziele-38877
- de Boer, N. J., van 't Klooster, J. M., Berès, P., Demetriades, P., Schmidt, V., Diessner, S., Jourdan, S., & Claeys, G. (2021). La BCE ha bisogno di una guida politica nella sezione degli obiettivi secondari. Il Sole 24 Ore. https://www.ilsole24ore.com/art/la-bce-ha-bisogno-una-guida-politica-sezione-obiettivi-secondari-AEguGe?refresh_ce=1
- de Boer, N. J., van 't Klooster, J. M., Berès, P., Demetriades, P., Schmidt, V., Diessner, S., Jourdan, S., & Claeys, G. (2021). O BCE precisa de orientação política sobre objetivos secundários. O Jornal Económico. https://jornaleconomico.sapo.pt/noticias/o-bce-precisa-de-orientacao-politica-sobre-objetivos-secundarios-727721
- de Boer, N. J., van 't Klooster, J. M., Berès, P., Demetriades, P., Schmidt, V., Diessner, S., Jourdan, S., & Claeys, G. (2021). Politiek moet ECB duidelijke secundaire doelstellingen geven. De Tijd. https://www.tijd.be/opinie/algemeen/politiek-moet-ecb-duidelijke-secundaire-doelstellingen-geven/10298374.html
- de Boer, N. J., van 't Klooster, J. M., Berès, P., Demetriades, P., Schmidt, V., Diessner, S., Jourdan, S., & Claeys, G. (2021). The ECB needs political guidance on secondary objectives. Web publication or website, Euractiv. https://www.euractiv.com/section/economic-governance/opinion/the-ecb-needs-political-guidance-on-secondary-objectives/
- de Boer, N. J., van 't Klooster, J. M., Demetriades, P., Claeys, G., Diessner, S., Jourdan, S., Schmidt, V., & Berès, P. (2021). La BCE devrait avoir un mandat politique clair qui expliciterait quels objectifs secondaires sont les plus pertinents pour l’UE. Le Monde. https://www.lemonde.fr/idees/article/2021/04/09/la-bce-devrait-avoir-un-mandat-politique-clair-qui-expliciterait-quels-objectifs-secondaires-sont-les-plus-pertinents-pour-l-ue_6076202_3232.html
2020
- de Boer, N. J., & van 't Klooster, J. M. (2020). The ECB, the courts and the issue of democratic legitimacy after Weiss. Paper presented at Ius Commune Conference 2020 Workshop: The EU after Weiss: Constitutional, Political and Economic consequences, Maastricht, Netherlands.
Media appearance
- van 't Klooster, J. (17-06-2025). Kortere termijn van de DNB-president roept vragen op over politieke druk [Print] NRC. Kortere termijn van de DNB-president roept vragen op over politieke druk. https://advance.lexis.com/r/documentprovider/g2x8k/attachment/data?attachmentid=V1,215,38034,68521353,1&attachmenttype=PDF&attachmentname=Li…
- van 't Klooster, J. (16-06-2025). Geen zeven, maar een termijn van vijf jaar voor een DNB-president. Waarom wil minister Heinen dat? [Web] NRC. Geen zeven, maar een termijn van vijf jaar voor een DNB-president. Waarom wil minister Heinen dat?. https://www.nrc.nl/nieuws/2025/06/16/minister-heinen-wil-de-zittingsduur-van-de-dnb-president-verkorten-maar-dat-roept-vragen-op-over-politi…
- van 't Klooster, J. (17-03-2025). The end of Germany’s economic delusions? [Web] Pub Affairs Bruxelles. The end of Germany’s economic delusions?. https://www.pubaffairsbruxelles.eu/opinion-analysis/the-end-of-germanys-economic-delusions/
2025
- Martino, E. D., van 't Klooster, J. M., & Monnet, E. (2025). Cryptomercantilism vs. Monetary Sovereignty: How stablecoin laws shape the battle for international monetary supremacy. (European Banking Institute Working Paper Series; No. 200), (Amsterdam Center for Law & Economics Working Paper Series; No. 2025-06). https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5602911
2023
- Colesanti Senni, C., Pagliari, M. S., & van 't Klooster, J. (2023). The CO2 content of the TLTRO III scheme and its greening. (DNB Working Paper; No. 792). De Nederlandsche Bank. https://www.dnb.nl/publicaties/publicaties-onderzoek/working-paper-2023/792-the-co2-content-of-the-tltro-iii-scheme-and-its-greening/ [details]
- DiLeo, M., Rudebusch, G., & van 't Klooster, J. (2023). Why the Fed and ECB Parted Ways on Climate Change: The Politics of Divergence in the Global Central Banking Community. (Hutchins Center Working Paper; Vol. 88). Brookings Institution. https://www.brookings.edu/articles/why-the-fed-and-ecb-parted-ways-on-climate-change-the-politics-of-divergence-in-the-global-central-banking-community/ [details]
- Grünewald, S., & van 't Klooster, J. (2023). New strategy, new accountability: The European Central Bank and the European Parliament after the strategy review. (Working Paper Series 2023; No. 139). European Banking Institute. https://doi.org/10.2139/ssrn.4420805 [details]
2021
- van 't Klooster, J. M., & Naef, A. (2021). Responsibility for Emissions: the Case of the Swiss National Bank’s Foreign Exchange Reserves and the Norwegian Oil Fund. (Working Paper Series ). Banque de France. https://publications.banque-france.fr/en/responsibility-emissions-case-swiss-national-banks-foreign-exchange-reserves-and-norwegian-oil-fund
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Ancillary activities
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Dezernat Zukunft
Policy fellow en auteur beleidsrapporten -
Europees Parlement - Directoraat A
Lid Monetary Policy Expert Panel
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Dezernat Zukunft
Dikau, S., Robins, N., Smoleńska, A., van’t Klooster, J., & Volz, U. (2025). Prudential net zero transition plans: the potential of a new regulatory instrument. Journal of Banking Regulation, 26(1), 85-99.