20 years of monetary and economic policy in the Eurozone – where are we, what needs to be done?
On July 17 2019, 9:45–11:15 am, Franz Joseph Benedikt, president of the German Central Bank, headquarters in Bavaria, will be holding an open guest lecture at Technical University of Munich’s Audimax. The talk “20 years of monetary and economic policy in the Eurozone – where are we, what needs to be done?” will be held in German and is part of Prof. Dr. Hanna Hottenrott’s lecture “Economics II – Macroeconomics”.
“Boring is best” is how Mervyn King, the former governor of the Bank of England, once described the desired state of monetary policy. But in times of financial and sovereign debt crises, central banks increasingly gained center stage as crisis managers. Policy interest rates at zero, massive purchases of government and corporate bonds and other monetary special measures – the Euro system made use of all this. Where do we stand today, was the monetary crisis regime successful, is there any prospect of an exit from the ultra-loose monetary policy? What conditions are necessary for rising interest rates, what can/must the financial and economic policies of the Economic and Monetary Unionmember states do to achieve this, and what might the future monetary policy “new normal” look like? Franz Joseph Benedikt will elaborate onall these questions in his presentation and discuss them with you afterwards.
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