Hayek Summer Workshop  

Monetary Policy, Financial Crises & Political Instability

Dr. Pablo Duarte, Leipzig University
Dr. Alexander Fink, Leipzig University
David Herok, Leipzig University
Dr. Andreas Hoffmann, Leipzig University
Dr. Karl-Friedrich Israel, Leipzig University
Prof. Dr. Christian Hoffmann, Leipzig University
Prof. Dr. Gunther Schnabl, Leipzig University
05.09. - 07.09.19
Leipzig University


Sponsored by


Financial crises, skyrocketing debt levels, sluggish growth, and growing inequality are among the most pressing policy issues in the industrialized world. The Hayek Summer Workshop provides an opportunity to fifteen selected students of economics and neighboring disciplines to discuss causes, consequences, and remedies of the current low-growth and high debt environment from a Hayekian and Public Choice perspective. Students will spend two full days learning, thinking and arguing about topics such as the link between monetary policy, credit cycles and financial crises. They will explore the political economy of crisis policies as well as unintended consequences of crisis management. The intensive workshop takes place from September 5-7, 2018 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.


To apply for participation in the workshop, please send an email to Dr. Karl-Friedrich Israel (israel(at)wifa.uni-leipzig.de) by July 31, 2019.

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.


Thursday, September 5, 2019
5 PMArrival and Registration
5:30 PMWelcome
Friday, September 6, 2019
Monetary Policy, Cycles and Crises
9 to 10:30 AMThe Role of Interest Rates in the Economy (K.-F. Israel)
10:30 to 11 AMBreak
11 to 12:30 PMMonetary Policy and Credit Cycles (G. Schnabl)
12:30 to 2 PMLunch
Political Economy of Crisis Policies
2 to 3:30 PMGovernment Failure (A. Fink)
3:30 to 4 PMBreak
4 to 5:30 PMInterest-Group Behavior and Bank Bailouts (A. Fink)
7 PM

Get-together with Lecturers

Political Polarization in the Digital Age (C. Hoffmann)

Saturday, September 7, 2019
Unintended Consequences in Emerging Markets
9 to 10:30 AMCapital Flows, Overheating, and Crises (D. Herok & A. Hoffmann)
10:30 to 11 AMBreak
11 to 12:30 PMFinancial Repression (D. Herok & A. Hoffmann)
12:30 to 2 PMLunch
Unintended Consequences in Advanced Economies
2 to 3:30 PMEuropean Imbalances and the Euro Crisis (G. Schnabl)
3:30 to 4 PMBreak
4 to 5:30 PMMonetary Policy, Inequality, and Political Polarization (P. Duarte)
5:30 to 6 PMFinal Remarks (G. Schnabl)

letzte Änderung: 31.01.2020