New Regimes of Monetary Policy

Guest Instructor: 
Marcel Fratzscher
Venue I: 
DIW Mohrenstr. 58, Friedensburg Room (2.2.008)

Course dates: April 20, 22, May 5 and July 2, 3.
Time: 10:00 – 13:00.

The seminar deals with changes and new developments in the theoretical and empirical literature on monetary policy.
Topics covered through lectures and seminar papers include the following: the appropriate mandates and objective function of central banks, the relationship between monetary policy and financial supervision, the role of the exchange rates, the functioning of monetary policy in a monetary union, the importance of fiscal dominance, quantitative easing during financial crises, the role of communication of objectives and policies, the functioning of central bank committees, transparency and independence and accountability, global coordination of monetary policy, the international role of the euro and the US dollar.

The course will first start with a series of lectures addressing these various issues. The seminar participants are then asked to prepare a seminar paper on one of the issues, which then have to be presented and discussed towards the end of the semester.

To allow an intensive dialogue among the students, the seminar is organized in block classes. Many topics are closely related to each other.

The lectures will take place on 20 and 22 April and 5 May. The seminar presentations will take place on 2 and 3 July.
Location: DIW, Mohrenstr. 58, Friedensburg Room
Restriction to participation: 20
Registration: 13. to 18.04.2015 via e-mail to

Exam: Seminar paper (10 - 15 pages, 70 %) + presentation and discussion (30 %)

Spring 2015
End date of the whole course: 
Friday, July 3, 2015 - 10:00am