Lecture Series: Monetary Policy and the Financial Sector

Guillaume Rocheteau, Professor of Economics, University of California at Irvine

“When Money Dies: The Dynamics of Speculative Hyperinflations”

Wednesday, May 29 2024, 10:30 – 12:00 a.m.

LC Building, Galerie (ground floor, right side, behind the WU Shop)

WU Wien, Welthandelsplatz 1, 1020 Vienna

The long era of price stability in the industrialized world and the recent strong surge in inflation challenge economists’s understanding of inflation processes. Guillaume Rocheteau’s work contributes to a better understanding of inflation by showing in a New Monetarist framework how the value of fiat money can become unanchored from the monetarist value determined by the time-path of the money supply. Speculative equilibria may exist in an economy, giving rise both to hyperinflations and their collapse „when money dies“.

Guillaume Rocheteau is professor at the Department of Economics/ University of Californie, Irvine and one of the most distinguished European New Monetarist Economists. The public lecture can be attended without prior reservation.

The “Hanns Abele Prize 2024” ceremony will also be held at the event.

The lecture series is jointly organized by Aurel Schubert, Honorary Professor at the Department of Economics and former Director General Statistics, ECB, and by Guido Schäfer, Department of Economics, WU Vienna.

The Hanns Abele Prize of WU’s Department of Economics is made possible by a generous donation of the Abele family.

Attendance is free for students and faculty of the WU as well as for all interested participants. No registration is required.