Annual Conference 2017

JT2017 Vienna

VfS Annual Conference 2017:

"Alternative Structures for Money and Banking" 

September 3 - 6,  University of Vienna

 We would like to thank all of the organisers and persons involved for the successful event.

Core Conference Organisation:

Open Meeting Organisation:

Local Organisation:

Hans Gersbach
(ETH Zurich)

Christine Zulehner
(Goethe-University of Frankfurt)

Jean-Robert Tyran
(University of Vienna)   


Participation fee:
VfS Member*
VfS Member (reduced fee)*
Students without graduation
VfS New Member
VfS New Member (reduced fee)    


*Member before 1st May 2017

New members participating at the conference don't pay an extra fee for the membership in 2017

149,00 €
89,00 €
375,00 €
40,00 €
234,00 €
136,00 €




 Core Conference:

The financial crisis of 2008/2009 has spurred efforts to give money and financial intermediaries a proper place in macroeconomic thinking and models. It has also given a powerful impulse to the search for potential alternatives to the current monetary and financial architecture.


In the current system, the banknotes and coins issued by the central bank are the sole legal tender. Yet, most of the money is created by commercial banks. Only certain depository institutions – mostly commercial banks – are eligible to borrow reserves from the central bank, and these reserves are used to settle interbank liabilities.


Paired with new ways to transact and pay, which are enabled by digitalization and encryption methods, several alternative architectures for money and banking are now being discussed in academic and in policy circles. Some proposals and technological developments could fundamentally change the current monetary architecture as well as the entire banking and financial system:


  • Abolition or Strong Limitation of Money Creation by Commercial Banks 
  • Abolition of Cash and the Role of Book Money 
  • Crypto-currencies and Free Banking


At this conference, we will review the core ideas underpinning these alternative architectures, and will assess their consistency, completeness, and prospects of adoption. We will draw on historical experience to assess whether these alternative architectures are merely a rehash of old ideas or whether they are truly new. We will also examine how central banks view digital currencies and new transaction technologies.


Keynote speakers are:

I:    Michael Kumhof (Bank of England): “Monetary Reform: The Chicago Plan and Central Bank Digital Currencies”
II:   Martin Hellwig (Max Planck Institute for Research on Collective Goods): "Geldtheorie, Bargeld und Giralgeld"
III: Adi Shamir (ACM Turing Award, Weizmann Institute in Rechovot, Israel): "The Past, Present and Future of Bitcoin"
IV:  Albrecht Ritschl (London School of Economics): "Emergency funds, cigarettes, Bitcoins: About the rise and fall of alternative currencies"

The general theme of the conference is also covered in a panel discussion with leading and experienced representatives.


You can switch to the complete conference schedule including all sessions and presentations (updated 24.07.2017) here.

Preliminary Programme Overview (all workshops and panels are held in German - marked blue):

Sunday, September 3

13:00-16:30 Mentoring Workshop for Women
13:00-15:00 Workshop ZBW
15:15-16:45 Workshop De Gruyter
15:15-16:45 Core Workshop - teaching economics
17:00-19:00 Workshop Economic Consulting
17:00-19:00 Workshop DFG
          19:00 Get-together on invitation of the ZBW/Selten-Prize

Monday, September 4

09:00-10:30 Parallel Sessions - Open Meeting Block A & Invited Session
09:30-10:30 Press breakfast
10:30-11:00 Coffee break
11:00-11:30 Opening and welcome address
11:30-12:30 Keynote I
12:30-13:45 Lunch reception on invitation of the DIW
13:45-14:45 Keynote II
14:45-15:15 Coffee break
15:15-16:30 Panel ÖFG
15:15-16:45 Parallel Sessions - Open Meeting Block B &
Poster Sessions
16:45-17:15 Break
17:15-18:45 Thünen lecture and Gossen Award Ceremony
          19:00 Reception on invitation of the OeNB and Stolper Award Ceremony

Tuesday, September 5
09:00-10:30 Parallel Sessions - Open Meeting Block C & Invited Session
10:30-11:00 Coffee break
11:00-12:15 Panel Econwatch
11:00-12:30 Parallel Sessions - Open Meeting Block D & Poster Sessions
12:30-13:45 Lunch break Brownbag
12:30-13:45 Panel Oesterreichische Nationalbank
13:45-14:45 Keynote III
14:45-15:15 Coffee break
15:15-16:30 Panel Economics as a school subject?
15:15-16:45 Parallel Sessions - Open Meeting Block E & Poster Sessions
16:45-17:15 Break
          17:15 University of Vienna: Oskar Morgenstern Award Ceremony and Champagne reception

Wednesday, September 6
09:00-10:30 Parallel Sessions - Open Meeting Block F & Invited Session10:30-11:00 Coffee break
11:00-12:15 Panel RatSWD
11:00-12:30 Parallel Sessions - Open Meeting Block G & Poster Sessions
11:30-12:30 Lecture by Ernst Fehr (offer for students)
12:15-13:15 Women's Network Meeting
12:30-13:15 Lunch break
13:15-14:15 Keynote IV
13:15-14:00 Parallel workshops (offer for students)
14:15-14:25 Break
14:25-15:40 Panel ARGE
15:40-16:00 Closing speech    

The conference registration will be activated on 1 May 2017. You will find all relevant information here.


Preparatory Commission: 

Christine Zulehner (University of Frankfurt), Chair
Stefan Buehler (University of St. Gallen)
Tomaso Duso (DIW Berlin)
Christina Gathmann (University of Heidelberg)
Hendrik Hakenes (University of Bonn)
Florian Heiß (University of Dusseldorf)
Anja Lamprecht (London Business School)
Mario Larch (University of Bayreuth)
Monika Merz (University of Vienna)
Rupert Sausgruber (Vienna University of Economics and Business)
Andreas Schabert (University of Cologne)


For further information, please visit the Conference homepage.

Terms and Conditions of the Annual Conference 2017 (in German only)