Institute for Monetary and Financial Stability Goethe University House of Finance Theodor-W.-Adorno-Platz 3 D-60629 Frankfurt am Main www.imfs-frankfurt.de
[email protected] IMFS 2 IMFS Annual Report 2016 Highlights 2016 5 Institute and Staff 10 I. The Institute 10 II. The Researchers 14 Conversations with former IMFS Researchers 25 Publications and Presentations 29 I. IMFS Working Papers 29 II. IMFS Interdisciplinary Studies 32 III. External Publications 33 IV. Presentations 38 Events 42 I. Conferences 43 II. Working Lunches 53 III. Distinguished Lectures 55 IV. Other Events 56 Research-Based Policy Advice 57 Public Outreach and Press 59 3 Helmut Siekmann and Volker Wieland (from left) Dear friends of the IMFS, In times of extremely low or even negative interest rates, unconventional monetary policy measures, and steps toward the limitation of cash payments, issues regarding price and financial stability are of great public interest. At the IMFS, we try to provide new insights on these questions from an inter- disciplinary point of view – that is, from an economic as well as a legal perspective. In 2016, we have organized conferences and lectures, published new research findings and commented on current developments in the media. With regard to doctoral and post-doctoral training – another important mission of the Institute – five researchers received the Ph.D. in Economics in 2016 and job placements included positions at the World Bank and the European Central Bank. At the same time, we have laid the ground for new research collaborations. We have won a research grant from the Sloan Foundation for pursuing a joint research project with the Hoover Institution at Stanford University – the Macroeconomic Model Comparison Initiative (MMCI).