IEP Academy Summer Workshop

IEP Academy Summer Workshop

Monetary Policy, Financial Crises & Political Instability

Leipzig, September 3-5, 2020

About

The goal of our workshop is to give German and international students from bachelor and master programs in economics and related disciplines the opportunity to better understand the current economic development and to discuss solutions for social and economic problems that have emerged over the past decades. Our analytical framework is based on the works of Walter Eucken and Friedrich Hayek, who have made seminal contributions to the understanding of a free market-based economic order. Since 2018 the workshop has grown every year. The IEP Academy Workshop 2020 is intended to enable 25 selected students to discuss the causes, consequences and remedies of low-growth and highly indebted economies. The students will spend two full days learning about topics such as the link between monetary policy, credit cycles and financial crises. They will examine the political economy of financial and economic crises and possible unintended consequences of crisis management.

The instruction language is English to make the participation of students from all over Europe possible. This is seen as an important contribution to the dialogue between young Europeans. In the past two years we hosted participants from the UK, Portugal, Hungary, Italy, Austria, Albania, Poland, Spain, Germany and Israel.

The intensive workshop takes place from September 3-5, 2020 at Leipzig University, amidst one of Germany’s youngest and most dynamic cities. Selected students will be accommodated right in the city center, two minutes from the university buildings. The program package also includes welcome drinks, lunch meals, and get-togethers with the instructors.

Organization

Sponsor

Program

Thursday, September 3, 2020

5 to 5:30 PM Arrival and Registration
5:30 PM Introduction
7 PM Get-together

Friday, September 4, 2020

Monetary Policy, Cycles and Crises

9 to 10:30 AM The Role of Interest Rates in the Economy
(K. F. Israel)
10:30 to 11 AM Break
11 to 12:30 PM Monetary Policy and Credit Cycles
(G. Schnabl & N. Sonnenberg)
12:30 to 2 PM Lunch

European Integration and Interest Group Behavior

2 to 3:30 PM Interest-Group Behavior and Bank Bailouts
(A. Fink)
3:30 to 4 PM Break
4 to 5:30 PM Functional vs. Institutional Integration in Europe
(S. Müller & G. Schnabl)
5:30 to 5:45 PM Break
5:45 to 7:15 PM Capital Flows, Overheating, and Crises
(D. Herok)
8 pm Get-together
Dinner Speech: The cultural consequences of inflation
(J. G. Hülsmann)

Saturday, September 5, 2020

Unintended Consequences in Emerging Markets

9 to 10:30 AM Financial Repression
(A. Hoffmann)
10:30 to 11 AM Break
11 to 12:30 PM European Imbalances and the European Financial and Debt Crisis
(G. Schnabl)
12:30 to 2 PM Lunch

Unintended Consequences in Advanced Economies

2 to 3:30 PM Monetary Policy and Inequality
(P. Duarte & K. F. Israel)
3:30 to 4 PM Break
4 to 5:30 PM Japanization
(T. Murai)
5:30 to 6 PM Final Remarks
(G. Schnabl)

Instructors

Dr. Pablo Duarte

Pablo Duarte

Senior Researcher at the Flossbach von Storch Research Institute. He obtained his PhD in economics at Leipzig University. His research interests include quantitative development economics, economic policy and economic history. His latest research is on informal financial markets, monetary policy and income inequality.

Dr. Alexander Fink

Alexander Fink

Lecturer at the Institute for Economic Policy at Leipzig University and Senior Fellow with the Institute for Research in Economic and Fiscal Issues. He holds a PhD in Economics from George Mason University and writes on topics in Political Economy. His latest research is on political donations, state-owned lotteries, and tax incentives for the timing of marriages.

David Herok

David Herok

Research assistant and PhD student at Leipzig University. His research interests are in international finance and political economy. Specifically, his research focuses on the effects of financial regulation on competition.

Dr. Andreas Hoffmann

Andreas Hoffmann

Lecturer at Leipzig University's Institute for Economic Policy. He holds a PhD in Economics from Leipzig University and writes on topics in international finance and monetary policy. His latest research is on the return of financial repression in Europe, and macroprudential and monetary policy in emerging markets.

Prof. Dr. Jörg Guido Hülsmann

Guido Hulsmann

Professor of economics at the University of Angers in France. His research focuses on the ethics of money production and the cultural consequences of inflation. He is senior fellow of the Mises Institute where he holds the 2018 Peterson-Luddy Chair and was director of research for Mises Fellows in residence 1999-2004.

Dr. Karl-Friedrich Israel

Karl Friedrich Israel

Senior researcher at the Institute for Economic Policy at Leipzig University in Germany and lecturer at the Berlin School of Economics and Law. He holds a PhD in Economics from the University of Angers, France. His research interests are in the area of monetary theory and policy as well as the history of economic thought.

Sebastian Müller

Sebastian Mueller

Research assistant and doctoral candidate at the Institute for Economic Policy at the University of Leipzig. Since 2018 he is a Young Affiliate of the NOUS Network for Regulatory Economics and Social Philosophy and Adam Smith Fellow at the Mercatus Center at George Mason University. His current research focuses on the effects of low interest rates on concentration processes in the corporate sector.

Taiki Murai

Taiki Murai

Research assistant and doctoral candidate at the Institute for Economic Policy at the University of Leipzig. His research focuses on international financial and goods markets, in particular current and capital account imbalances in the EU and Japan.

Prof. Dr. Gunther Schnabl

Gunther Schnabl

Professor of Economics and director of the Institute for Economic Policy at Leipzig University. His research is on monetary integration, exchange rate policies, current account imbalances, and boom and bust cycles in financial markets. His latest research is on distribution and growth effects of unconventional monetary policy.

Nils Sonnenberg

Nils Sonnenberg

Research assistant and doctoral candidate at the Institute for Economic Policy at the University of Leipzig. His current research focuses on financial markets, low interest rate policies and credit cycles.

Apply

To apply for participation in the workshop, please send an email to Dr. Karl-Friedrich Israel (israel@wifa.uni-leipzig.de) by July 31, 2020.

Your application should include

  • your motivation to participate in the workshop (~200 words),
  • a summary of your study and/or research interests (~150 words),
  • a current copy of your CV.

We look forward to receiving your application and are excited to welcome you in Leipzig on September 5–7.

Leipzig