For more information on the Konstanz Seminar and recent programs, go to

44. Konstanz Seminar on Monetary Theory and Policy
May 14 - May 17, 2013

The seminar will be held from May 14 - May 17, 2013, on the Island of Reichenau at the Lake of Constance. The first session will begin on May 15 at 9:00 a.m., the last session will terminate on May 17 at noon. There will be an informal get-together for dinner in the evening of May 14.

The final seminar program is now available.

Lake Constance

Accommodation and seminar presentations will be at Strandhotel Löchnerhaus, located on Reichenau Island.  (Find it here in Google maps.)

Coming from Zurich Airport, you will first have to catch a train to Konstanz Bahnhof. (Timetable Zurich-Airport to Konstanz)
From there you take a regional train to Reichenau(Baden)/Reichenau Bahnhof and finally a bus (bus no. 7372) to
Reichenau Stedigasse/Anlegestelle which is next to the Strandhotel Löchnerhaus. (Timetable Konstanz to Reichenau-Stedigasse)

Presenter Title pdf-Files
Sumru G. Altug
(Koç University)
Do Institutions and Culture Matter for Business Cycles?
with Fabio Canova (Universitat Pompeu Fabra)
Michal Brzoza-Brzezina
(National Bank of Poland)
Macroprudential policy and imbalances in the euro area
with Marcin Kolasa (National Bank of Poland) and Krzysztof Makarski (National Bank of Poland)
James Bullard
(President of the Federal Reserve Bank of St. Louis)
Debt Overhang and Monetary Policy
with Costas Azariadis (Washington University in St. Louis), Aarti Singh (University of Sydney), and Jacek Suda (Banque de France)
Valeriya Dinger
(University of Osnabrück)
The Tragedy of the Commons and Inflation Bias in the Euro Area
with Frank Westermann (University of Osnabrück) and Sven Steinkamp (University of Osnabrück)
Thorsten V. Koeppl
(Queen's University, Canada)
The Limits of Central Counterparty Clearing: Collusive Moral Hazard and Market Liquidity
Alexander Kriwoluzky
(University of Bonn)
On the low-frequency relationship between public deficits and inflation
with Martin Kliem (Deutsche Bundesbank) and Samad Sarferaz (ETH Zürich)
Kent Matthews
(Cardiff University)
Banking and the Macroeconomy in China: A Banking Crisis Deferred?
with Vo Phuong Mai Le (University of Sheffield), David Meenagh (Cardiff University), Patrick Minford (Cardiff University), and Zhiguo Xiao (Fudan University)
Alan Sutherland
(University of St. Andrews)
Nominal Stability and Financial Globalization
with Ozge Senay (University of St. Andrews) and Michael B. Devereux (University of British Columbia)
Michael Wickens
(Cardiff University and University of York)
Is the UK triple-A?
with Vito Polito (Cardiff Business School)
Stephen Williamson
(Washington University of St. Louis)
Scarce Collateral, the Term Premium, and Quantitative Easing
Policy Session Speaker:
Erdem Başçı
(Governor, Central Bank of the Republic of Turkey)

More information on the Konstanz seminar, its history and academic and policy accomplishments are available here.