After having to switch to a virtual format last year, the fifth “Conference on Austrian Economics” will take place on October 28 and 29, 2021 in Madrid.
Since its first edition in 2017, Dr. Leef H. Dierks, Professor of International Capital Markets in the Department of Mechanical Engineering and Economics, initiator and co-organizer of this top-class international conference. As in previous years, experts from science and business will debate monetary theory and monetary policy.
“The abrupt increase in the inflation rate in recent months and the subdued economic growth in the euro zone despite various economic policy stimuli naturally raise the question of a reaction from the ECB,” said Dierks. “But it will not be possible to do that in the short term; The ECB’s hands are simply tied,” continues the Lübeck expert for international capital markets.
“What if the monetary policy tools available to the central bank are no longer sufficient? And what if the fiscal policy measures continue to massively increase government debt, but otherwise fizzle out without effect?” are his questions, which are becoming increasingly urgent given the continued existence of the eurozone in its current form. Dierks is looking forward to an engaged debate and expects interesting suggestions for possible solutions.
Dierks will be supported by his doctoral student Sonja Tiggelbeck (MA), who will present research results on post-rational decision-making on the money and capital markets in Madrid. Her research includes, among other things, the question of what role mental and social components play in securities trading and what the consequences are for small investors. Antonia Lüdtke (B.Sc.), a Master of Business Administration student at the Lübeck University of Applied Sciences, will answer the question of the extent to which the monetary policy pursued by the ECB since 2009 has had a lasting impact on financial market stability or led to further imbalances.