In 2002 Stefan W. Schmitz was elected to the executive board of the Institute Vienna Circle - Society for the Advancement of the Scientific World Conception. He studied economics, business administration and philosophy of science in Vienna, London (MSc LSE) and New York (Research Seminar on Austrian Economics, NYU). He wrote his Ph.D. thesis on "Bank Expectations and Intertemporal Co-ordination Failure" at the Dept. of Economics at the University of Vienna.
From September 1998 to June 2003 he worked at the Research Unit for Institutional Change and European Integration at the Austrian Academy of Sciences as a research fellow. He spent the summer semester 2000 at the University of Minnesota (Minneapolis) as Visiting Assistant Professor in economics teaching "Money and Banking in the EURO" and the summer 2002 at the DIW Berlin (German Institute for Economic Research) as Visiting Fellow. Since February 1998 he has frequently lectured on topics such as "Money and Banking in the EURO" or "New Media: Economic Perspectives" at the Institute of Analytical Economics at the Vienna University of Economics and at the Fachhochschule für Bank- und Finanzwirtschaft (University of Banking and Finance, Vienna). In 2003 he joined Oesterreichische Nationalbank (OeNB) where he is head of the macroprudential supervision unit (https://www.oenb.at/finanzmarkt/makroprudenzielle-aufsicht.html).
LinkedIn: Stefan W. Schmitz – Mitglied des Vorstands – Wiener Kreis Gesellschaft
Macroprudential Analysis, Regulation, and Supervision (cyclical and structural risks, systemic incentive problems, impact assessments)
Macroprudential components of stress tests, systemic liquidity, and liquidity stress tests
Complexity of regulation
Monetary Economics (payments systems, financial stability, and monetary policy)
Political Economy of Financial Governance (i.e. pension funds)
History of Economic Thought (Austrian School of Economics, New Institutional Economics, monetary doctrine)
Digital Economy & eCommerce, Economics of the European Information Society, Applied Industrial Organisation, European (mobile) telecommunication markets
Work in Progress
Basel Committee of Banking Supervisors – Research Group: Work stream on Bank balance sheet management
FSC Working Group on Macroprudential Stress Tests
Commentaries
KIM-V war effektiv und läuft wie gesetzlich vorgesehen aus, OeNB-Blog, 3. Dezember 2024
Gewerbeimmobilienkredite im Fokus: Wie groß ist ihre Bedeutung für die Finanzmarktstabilität?, OeNB-Blog 20. September 2024
Umgehung der KIM-V über deutsche Banken? Ein Faktencheck, OeNB-Blog, 30. Juli 2024
KIM-V bietet durch großzügige Ausnahmen viel Spielraum für Einzelfälle, OeNB-Blog, 8. Juli 2024
Wohnimmobilienkredite gehen uns alle etwas an, OeNB-Blog, 10. Mai 2024
The European Commission's crisis management and deposit insurance (CMDI) proposal increases system-wide liquidity risk and makes more banks systemic,
SUERF Policy Note, Issue No 325, October 2023 (with M. Posch and P. Strobl)
The EU macroprudential review should prioritize removing regulatory overlaps and increasing the flexibility of the CCyB, SUERF Policy Note,
Issue No 293, December 2022 (with M. Posch and P. Strobl)
A pragmatic solution for the liquidity in resolution problem, SUERF Policy Note, Issue No 222, February 2021 (with M. Gruber)
Buffer usability and potential stigma effects. SUERF Policy Note, Issue No 219, January 2021 (with V. Nellessen, M. Posch, P. Strobl)
Vom Aussichtsturm: wohin geht es in den nächsten Jahren? in: Finanzwirtschaft: neue Zeiten neue Instrumente - SENAT 2/2919, 12-14
Banks' behavioral reactions to Basel III: mostly as intended. SUERF Policy Note Issue No 106, October 2019.
The future of financial stability: Maintaining effectiveness while reducing complexity. (with A. Ittner, M. Posch), SUERF Policy Note, Issue No 75
Recent studies reinforce the case for the Liquidity Coverage Ratio, 28 February 2014 http://www.voxeu.org/article/liquidity-coverage-ratios-new-evidence (also as Recent Studies Reinforce Case for the Liquidity Coverage Ratio, 2 March 2014 http://www.economonitor.com/blog/2014/03/recent-studies-reinforce-case-for-the-liquidity-coverage-ratio/#sthash.mz84Q2Hp.dpuf and Recent Studies Reinforce the Case for the Liquidity Coverage Ratio, 6 March http://www.gtnews.com/Whitepapers/Recent_Studies_Reinforce_the_Case_for_the_Liquidity_Coverage_Ratio.html (registration required) (with H. Hesse)
The Liquidity Coverage Ratio Under Siege, 25. Juli 2012 http://www.economonitor.com/blog/2012/07/the-liquidity-coverage-ratio-under-siege/ and http://www.voxeu.org/article/neglected-part-international-financial-reform-liquidity-regulation (shortened version)
Next-generation system-wide liquidity stress testing (with C. Schmieder, H. Hesse, B. Neudorfer, C. Puhr) 1 February 2012 http://voxeu.org/index.php?q=node/7586 and http://www.economonitor.com/blog/2012/02/next-generation-system-wide-liquidity-stress-testing/
Room for manoeuvre: The deleveraging story of Eurozone banks since 2008 (with H. Hesse, C. Puhr, R. Spitzer) 14 June 2012 http://www.voxeu.org/index.php?q=node/8090 and http://www.economonitor.com/blog/2012/06/room-for-manoeuvre-the-deleveraging-story-of-eurozone-banks-since-2008/
Publications
(see also http://ideas.repec.org/e/psc104.html or http://papers.ssrn.com/sol3/DisplayAbstractSearch.cfm)
Books
Vienna Circle Institute Yearbook 13, Springer, Dordrecht, 2007 (co-edited with E. Nemeth, Th. E. Uebel)
Reviews
"What emerges from the various papers [in this volume] is that Otto Neurath's economic thought is indeed considerably more complex than has typically been rendered."
B. Caldwell, Journal of the Histrory of Economic Thought 21 (4), 555-560
E. Springler, Wirtschaft und Gesellschaft 35 (1), 123-125
Proceedings of OeNB Workshops No. 11, Vienna, 2007 (co-edited with P. Mooslechner and H. Schuberth)
"Central bankers worldwide welcome the recent increase of research on payment systems. This volume, providing an expert overview on this timely subject, should be required reading for us all". Erkki Liikanen, Governor of the Bank of Finland
Contents
Institutional Change in the Payment System and Monetary Policy - An Introduction (Stefan W. Schmitz and Geoffrey E. Wood), 1-30
Payments System Innovations in the United States since 1945 and their Implications for Monetary Policy (Lawrence H. White), 31-46
Payment Systems from the Monetary Policy Implementation Perspective (Ulrich Bindseil and Flemming Würtz), 47-61
Modelling Institutional Change in the Payments System, and its Implications for Monetary Policy (Forrest H. Capie, Dimitrios P. Tsomocos and Geoffrey E. Wood), 62-80
The Evolving Payments Landscape and Its Implications for Monetary Policy (Sujit Chakravorti), 81-92
eMoney and Monetary Policy: The Role of the Inter-eMoney-Institution Market for Settlement Media and the Unit of Account - A Critical Assessment of the Literature (Stefan W. Schmitz), 93-120
What Drives Demand for and Supply of Electronic Money? Theoretical Background and Lessons from History (Cornelia Holthausen), 121-130
Monetary Policy in a World without Central Bank Money (Stefan W. Schmitz), 131-157
The Organisation of Interbank Settlement Systems: Current Trends and Implications for Central Banking(Angelo Baglioni), 158-170
Notes on Contributors
List of Figures
List of TablesIndex
Review
H. Klausinger, Die Zukunft der Geldpolitik, Wirtschaft und Gesellschaft 34 (1), 125-127
Inhaltsübersicht
1. Ordnungsethik, soziale Gerechtigkeit und Institutionen
2. Konjunktur- und Integrationspolitik
3. Nationale und internationale Währungspolitik
301 S. € 74,80/sFr 126 ISBN 3-428-11341-1 ISSN 0505-9372
Reviews
E. Fröhlich, Zeitschrift für Ganzheitsforschung 49 (4), 212-213
A. Klose, Neue Ordnung 60 (1), 79-80
W. Lachmann, Wirtschaft und Ethik 17 (2), 12-13
"Im vorliegenden Band stellen Michael Latzer und Stefan W. Schmitz die methodischen Grundlagen der ökonomischen Analyse des eCommerce erstmals in einem größeren makro- und industrieökonomischen Zusammenhang dar. Die ausführliche und detaillierte Darstellung der New Economy-Debatte in den USA lässt die Euphorie der 90er Jahre in gänzlich neuem Licht erscheinen.
Anhand des von ihnen eingeführten Konzepts der Digitalen Ökonomie erklären sie Unternehmensstrategien, die im Informations- und Kommunikations-Sektor sowie im Medien-Sektor zunehmend Verbreitung finden, und leiten daraus Herausforderungen für die Wettbewerbspolitik der Zukunft ab.
Die Autoren widerlegen zahlreiche populäre Hypothesen zu den "revolutionären" Auswirkungen des eCommerce auf den Wettbewerb, die Wertschöpfungskette, die Standortwahl sowie die Beschäftigung. Sie diskutieren zukünftige Entwicklungen in diesen Bereichen ebenso wie den unumgänglichen Transformationsprozess von Form, Inhalt und Ablauf der Politik." (Klappentext)
ISBN 3-89518-391-1, 210 pp., € 24.80
Reviews
Rolf T. Wigrand, Electronic Markets 15 (1), 72-74
Michael Jainzik, Kyklos 56 (4), 592-593
Dorothea Herzele, Wirtschaft und Gesellschaft 30 (2), 205-208
Christian Steininger, Medien Journal 4, 67-68
Sabine Nuss, Das Argument 251, 491-492
"Carrying out this translation was a splendid idea. Menger has been enormously influential on the development of money and his influence has been increasing in recent years. Yet this publication for the first time makes available in English his long article on "Money". It can now reach the audience it deserves. It reveals in full the distinctiveness of Menger's vision of historical development with its powerful case for the transactions cost explanation of the emergence of money. It has been set in context with admirable contributions from several leading scholars in the field. It will be widely used."
Forest H. Capie, Professor of Economics, City University Business School, London, UK
"Carl Menger is of immense importance in the development of monetary economics. He built on the work of Adam Smith, showing how money evolved as a result of individuals trying to better themselves and was not, as some have claimed, an invention of a benevolent state. But despite Menger's importance, there is remarkably little written on him in English, and some even of his most important work remains untranslated. This excellent book goes far to remedy this situation. It is a major contribution to the history of economic thought. Furthermore it develops Menger's analysis of transactions so as to illuminate and advance discussions on the prospects for electronic money, an important topic in modern monetary theory. This is a fascinating, well written, and important book."
Geoffrey E. Wood, Professor of Economics, City University Business School, London, UK
"This is a fascinating conglomeration of a book. The volume will appeal equally to historians of economic thought and to economists who wish to explore the implications of the recent emergence of electronic money. Seldom has the relevance of the Mengerian research tradition for understanding the evolution of contemporary social institutions been more powerfully demonstrated."
Bruce Caldwell, Professor of Economics, University of North Carolina, Greensboro, USA
"The book edited by Michael Latzer and Stefan W. Schmitz is a very exciting book. It creates an intellectual link between the past and the future. It makes it possible for readers to better know the fundamental insights of Carl Menger about money; but it also provides an outstanding analysis of possible developments of electronic money, demonstrating that they cannot be understood without looking back at the theoretical debate about money initiated by Carl Menger. For those interested in money and its future, this book is unique."
Pascal Salin, Professor of Economics, Universite Paris-Dauphine, France
ISBN 1-84064-918-6, 192 pp., GBP 49.95
Reviews
C.A.E. Goodhart, History of Political Economy 36 (1), 210-212
Gilbert Bougi, Journal des Economists et des Etudes Humaines 12 (4), 627-651 (Review Article)
Hans-Jörg Klausinger, Zeitschrift für Ganzheitsforschung 49 (2), Troy P. Lynch, History of Economics Review 37, 164-167
Gilles Campagnolo, European Journal for the History of Economic Thought 10 (3), 505-508
Neil Skaggs, The Review of Austrian Economics 18 (3-4), 345-347
John Singelton, Australian Economic History Review 43 (3), 323-324
T Lynch, History of Economics Review 37 (1), 164-166
„Einlagensicherung und Finanzmarktstabilität“, in: N. Raschauer, T. Stern (eds.), Einlagensicherung, Linde-Verlag, Wien 2021, 75-105 (with J. Eidenberger)
„Bank Solvency and Funding Cost: New Data and New Results“, in: A. Jobst, L. L. Ong (eds.), The IMF Approach to stress testing II, Washington D. C., 2020, 155-181 (with M. Sigmund, L. Valderrama)
"Liquidity risk in a wider context tests", in: C. Bonner, P. Hilbers, I. van Lelyveldt,, (eds.), Liquidity Risk Management and Supervision, Risk Books, London 2015, 213-236 (with I. van Lelyveldt, J.W. van der End)
"Macroprudential liquidity stress tests", in: C. Bonner, P. Hilbers, I. van Lelyveldt,, (eds.), Liquidity Risk Management and Supervision, Risk Books, London 2015, 237-264
„The liquidity coverage ratio under siege”, in: J. Danielsson (ed.), Post-Crisis Banking Regulation - Evolution of economic thinking as it happened on Vox, CEPS Press, London, 93-103. [reprint of Vox blog of 25 July 2012]
„Next Generation System-Wide Liquidity Stress Testing”, in Li Lian Ong (ed.), A Guide to IMF Stress Testing: Methods and Models, IMF, Washington D.C. (forthcoming) (with C. Schmieder, H. Hesse, B. Neudorfer, C. Puhr) [publication of IMF Working Paper No. 12/3]
"Structure and Stability in Payment Networks - A Panel Data Analysis of ARTIS Simulations", in: H. Leinonen (ed.) Simulation analyses and stress testing of payment networks, Bank of Finland Studies E:42, Helsinki 2009, 145-188
"Governance-Struktur und Verteilung der Risiken im österreichischen Pensionskassensystem", in: Th. Zotter (ed.) Pensionskassen: Europa - Österreich - Strukturen, Erfahrungen, Perspektiven, LexisNexis Verlag ARD Orac, Wien, 107-29
"Introduction", in: E. Nemeth, S. W. Schmitz, Th. E. Uebel (eds.) Otto Neurath's Economics in Context, VCI Yearbook 13, Springer, Dordrecht (with E. Nemeth, Th. E. Uebel), 1-13
"The Impact of Projected Demographic Developments on Funded Pension Provision in Austria", in: M. Balling, F. Lierman (eds.), Money, Finance and Demography - the Consequences of Ageing, SUERF - Société Universitaire Européenne de Recherches Financières, Lisbon 2007 (forthcoming)
"Will central banking survive electronic money?", in: A. Haldane, S. Millard, V. Saporta (eds.), The Future of Payments, Routledge, London, 2007 (forthcoming)
"Editorial", in: P. Mooslechner, S. W. Schmitz, H. Schuberth (eds.) From Bretton Woods to the Euro - Austria on the Road to European Integration, Proceedings of OeNB Workshops No. 11, Vienna, 2007, 4-12 (with P. Mooslechner and H. Schuberth)
"From Bretton Woods to the Euro: the Evolution of Austrian Monetary Policy from 1969 to 1999", in: P. Mooslechner, S. W. Schmitz, H. Schuberth (eds.) From Bretton Woods to the Euro - Austria on the Road to European Integration, Proceedings of OeNB Workshops No. 11, Vienna, 2007, 21-44 (with P. Mooslechner and H. Schuberth)
"Risk concentration, network structure and the assessment of contagion in the Austrian large value system ARTIS", in: H. Leinonen (ed.), Simulation and network Studies of Payment and Settlement Systems, Bank of Finland Studies, Helsinki, 2007, 183-226, (with C. Puhr)
"The Governance of Occupational Pension Funds and the Politico-Economic Implications: The Case of Austria", in: P. Mooslechner, H. Schuberth, B. Weber (eds.), The Political Economy of Financial Market Regulation: The Dynamics of Inclusion and Exclusion, Edward Elgar, Cheltenham, 2006, 214-46
"Institutional Change in the Payments System and Monetary Policy: An Introduction", in: Stefan W. Schmitz, Geoffrey E. Wood (eds.), Institutional Change in the Payments System and Monetary Policy, Routledge, London, 2006 (with G. E. Wood), 1-30
"eMoney and Monetary Policy: The Role of the Inter-eMoney-Institution Market for Settlement Media and the Unit of Account - A Critical Assessment of the Literature", in: Stefan W. Schmitz, Geoffrey E. Wood (eds.), Institutional Change in the Payments System and Monetary Policy, Routledge, London, 2006, 93-120
"Monetary Policy in a World without Central Bank Money", in: Stefan W. Schmitz, Geoffrey E. Wood (eds.), Institutional Change in the Payments System and Monetary Policy, Routledge, London, 2006, 131-157
"Die Auswirkungen von Zahlungsverkehrsinnovationen auf die Geldpolitik", in: Thomas Lammer (ed.), Handbuch e-money, e-payment & m-payment, Springer, München, 2006, 91-112.
"John Wheatley", entry commissioned for Biographical Encyclopaedia of British Economists, Thoemmes Press, London, 2004. "Zur Einbegleitung", in: J. Hanns Pichler, Stefan W. Schmitz (eds.), Wirtschafts- und Ordnungsethik in ihrem Anspruch an Sozial-, Institutionen-, Konjunktur- und Währungspolitik, Duncker & Humblot, Berlin, 2004, 7-15. (with J. Hanns Pichler)
"B2C e-commerce: a frictionless market is not in sight - arguments, empirics and policy implications", in: B. Preissl, H. Bouwman, C. Steinfield (eds.), E-Life after the Dot Com Bust, Physica-Verlag, Heidelberg, New York, 2004, 39-64. (with M. Latzer)
"The Effects of E-commerce on the Structure of Intermediation", in: C. Steinfield (ed.), New Directions in Research on E-Commerce, Purdue University Press, West Lafayette, Indianna, 2004, 105-127.
"Introduction", in: M. Latzer, S. W. Schmitz (eds.), Carl Menger and the Evolution of Payments Systems: From Barter to Electronic Money, Edward Elgar, Cheltenham, 2002, 1-7 (with M. Latzer)
"The Institutional Character of New Electronic Payments Systems: Redeemability and the Unit of Account", in: M. Latzer, S. W. Schmitz (eds.), Carl Menger and the Evolution of Payments Systems: From Barter to Electronic Money, Edward Elgar, Cheltenham, 2002, 111-132
"Carl Menger's "Money" and the Current Neoclassical Models of Money" in: M. Latzer, S. W. Schmitz (eds.), Carl Menger and the Evolution of Payments Systems: From Barter to Electronic Money, Edward Elgar, Cheltenham, 2002, 159-183
"Einführung in die Digitale Ökonomie des IKT-Sektors", Chapter 1 in: Beirat für Wirtschafts- und Sozialfragen, Digitale Wirtschaft, Wien, 2001, 94-105 (with M. Latzer)
"Die Förderung des B-2-C eCommerce", in: M. Latzer (Ed.), Mediamatikpolitik für die Digitale Ökonomie - eCommerce, Qualifikation und Marktmacht in der Informationsgesellschaft, Studienverlag, Innsbruck, 2000, 62-219
(Inhalt: Definition und Wirtschaftspolitische Herausforderungen, 62-71; Vertrauensbildung -allgemeiner rechtlicher Rahmen, 71-94; Verbraucherschutz, 94-108; Datenschutz- Schutz der Privatsphäre, 108-121; Zölle und Steuern im B-2-CeCommerce, 122-137; Kleine und Mittlere Unternehmen im B-2-C eCommerce,138-156; Elektronisches Geld, 156-181; Aktionsprogramme zur Förderung des eCommerce, 181-191; Die gesamtwirtschaftlichen Effekte des B-2-C eCommerce,191-219)
"Mediamatik und Digitale Ökonomie als zentrale Kennzeichen der Informationsgesellschaft", (gemeinsam mit M. Latzer), in: M. Latzer (Ed.), Mediamatikpolitik für die Digitale Ökonomie - eCommerce, Qualifikation und Marktmacht in der Informationsgesellschaft, Studienverlag, Innsbruck, 2000, 29-60
"Business-to-Consumer eCommerce in Österreich: Eine empirische Untersuchung" (gemeinsam mit M. Latzer), in: M. Latzer (Ed.), Mediamatikpolitik für die Digitale Ökonomie - eCommerce, Qualifikation und Marktmacht in der Informationsgesellschaft, Studienverlag, Innsbruck, 2000, 286-306
"Zweifelsohne handelt es sich bei der vorliegenden Publikation um einen sehr wichtigen Beitrag zur Diskussion um die Entwicklungstendenzen der digitalen Ökonomie in Österreich und die daraus resultierenden Herausforderungen für die Politik. Es ist zu hoffen, dass der Band unter Beratern und Entscheidungsträgern im Bereich der Wirtschafts-, Rechts-, Medien- und Bildungspolitik Verbreitung und Beachtung findet."
Michael Mesch, Wirtschaft und Gesellschaft 28 (3)
"Ein großer Verdienst des Buches liegt in der Lust zur Entmystifizierung. Eine Reihe von gängigen Vermutungen über den Gegenstandsbereich wird falsifiziert bzw. in den Zweifel gezogen. (Das Buch gibt) einen guten Überblick über die technoökonomischen Grundzusammenhänge der Wirtschaftsweise im Informationszeitalter und einige seiner politischen Herausforderungen (...) und in Verbindung mit aktuellem empirischen Material Qualität und Status eines ausgezeichneten Einführungswerks beanspruchen kann, das nicht - wie viele solcher Werke - in reine Apologie seines Gegenstands verfällt."
Beat Weber, Österreichische Zeitschrift für Politikwissenschaft
"Für Referenzzwecke hilfreiche Verzeichnisse von Tabellen und Abbildungen sowie zur Vielfaltgängiger Abkürzungen, weiters eine sorgfältige Zusammenstellung verwendeter Literatur und sonstiger Quellen bzw. Dokumente ergänzen die Studie, welche sich verdienstvoll und mutig zugleich an ein zweifellos noch in dynamischem Wandel befindliches Untersuchungsfeld heranwagt und damit einen objektivierenden Beitrag zu einem nicht zuletzt auch gesellschaftspolitischen relevanten, um nicht zu sagen brisanten Thema, leistet."
J. Hanns Pichler, Zeitschrift für Ganzheitsforschung 45 (4), 215-217
Carsten Orwat, TA-Datenbank-Nachrichten 9 (4), 128-131
368 Seiten, öS 448,00/DM 61,50/sfr56,00, ISBN 3-7065-15180
OeNB Macroprudential Policy Conference – Financial stability in 2030: Maintaining effectiveness while reducing regulatory complexity”, OeNB Financial Stability Report 38, 87-94 (with M. Posch).
"The Interaction Between Bank Solvency and Funding Costs: A Crucial Effect in Stress Tests." Economic Notes Vol. 48/No. 2. e12130. 2019. (with M. Sigmund, L. Valderrama) (‡)
“The case for macroprudential policy as a stabilizing tool for the euro area”, Monetary Policy and the Economy Q1/19, 124-38 (with M. Posch, P. Strobl) (**)
"Strengthening the euro area by addressing flawed incentives in the financial system”, Monetary Policy and the Economy Q2/18, 34-50 (with M. Posch, P. Strobl) (**)
"The OeNB's reaction to the end of the Bretton Woods system: tracing the roots of the Indicator", Two hundred years of central banking in Austria: selected topics. Monetary Policy and the Economy Q3/16, 190-210 (**) (Deutsche Version: Die Reaktion der OeNB auf das Ende des Währungssystems von Bretton Woods: auf den Spuren des Indikators.
"The changing role of macroprudential policy in Austria after World War II", Two hundred years of central banking in Austria: selected topics. Monetary Policy and the Economy Q3/16, (with S. Döme, K. Steiner, E. Ubl) 163-189 (**) (Deutsche Version: Makroprudenzielle Politik in Österreich seit der Nachkriegszeit)
"Systemic liquidity and macroprudential supervision", Financial Stability Report No. 30, 2015, 85-92 (with A. Houben, M. Wedow)
„The Priorities of Deleveraging in the Euro Area and Austria and Ist Implications for CESEE“, Financial Stability Report No. 27, 2014, 50-63 (with J.Eidenberger, K. Steiner) (**)
„Macroprudential Supervision: A Key Lesson from the Financial Crisis“, Financial Stability Report No. 27, 2014, 83-94 (with J. Eidenberger, D. Liebeg, R. Seliger, M. Sigmund, K. Steiner, P. Strobl, E. Ubl) (**)
„A View From The Top – The Interaction Between Solvency And Liquidity Stress”, Journal of Risk Management in Financial Institutions 7(4), 2014, 38-51 (with C. Puhr) (‡)
„Die Kosten der Bankenregulierung”, Wirtschaftspolitische Blätter 4/2014, 673-89 (with A. Ittner) (*)
„The Impact of the Liquidity Coverage Ratio (LCR) on the Implementation of Monetary Policy”, Economic Notes 42 (2), 135-70, 2013 (‡)
„ARNIE in Action: The 2013 FSAP Stress Tests for the Austrian Banking System”, Financial Stability Report No. 26, 2013 (with M. Feldkircher, G. Fenz, R. Ferstl, G. Krenn, B. Neudorfer, C. Puhr, T. Reininger, M. Schneider, C. Siebenbrunner, M. Sigmund, and R. Spitzer), (**)
„Varieties of helping capitalism. Politico-economic determinants of bank rescue packages in the EU during the recent crisis”, Socio-Economic Review 9 (4), 2011, (with B. Weber), 639-69
„The Economic Impact of Proposals to Strengthen Bank Resilience – Estimates for Austria”, Financial Stability Report No. 20, 2010, 90-119 (with E. Kopp, C. Ragacs.) (**)
„Recent Developments in the Austrian Banking System’s Liquidity Situation and the International Regulatory Debate”, Financial Stability Report No. 18, 2009, 60-66 (with F. Weidenholzer) (†)
"EU bank rescue packages: conflicting objectives and solutions", Financial Stability Report No. 17, 2009, (with M. Posch, B. Weber), (**)
"Network and eigenvalue analysis of financial transaction networks", European Physical Journal B 71, 523-532, 2009 (with C. Puhr, S. Thurner und F. Kyriakopulos) (‡)
"Stress Tests for the Austrian FSAP Update 2007: Scenarios, Methodologies and Results", Financial Stability Report No. 15, (with M. Boss, G. Fenz, G. Krenn, J. Pann, C. Puhr, T. Scheiber, M. Schneider, E. Ubl) (**)
"Systemically Important Accounts, Network Topology and Contagion in ARTIS", Financial Stability Report No. 15, 2008, (with M. Boss, G. Krenn, V. Metz, C. Puhr) (**)
"Demographic Change, Bank Strategy and Financial Stability", Financial Stability Report No. 13, 2007, 98-114 (**)
"Why central banks should look at liquidity risk", Quarterly Journal Central Banking Vol. XVII No. 4, 32-40 (*) (with A. Ittner)
"How payment systems affect monetary policy", Quarterly Journal Central Banking Vol. XVII No. 2, 65-72 (*)
"The Impact of Aging on EU Banks", EU Banking Structures No. 6, ECB 2006, 20-39 (with E. Endlich, E. Garcia, O. Ranguelova, C. Dauchy)
"Operational Risk and Contagion in the Austrian Large Value Payment System ARTIS", Financial Stability Report No. 11, 2006, 107-126 (with C. Puhr, H. Moshammer, M. Hausmann, U. Elsenhuber) (**)
"Konzentrationsrisiken und Netzwerkstruktur im ARTIS-System ", Statistiken - Daten & Analysen Q2, 2006, 54-69 (with C. Puhr, H. Moshammer) (†)
"Die Governance-Struktur der Pensionskassen in Österreich und ihre polit-ökonomischen Konsequenzen", Wirtschaft und Gesellschaft Vol.31 No.3, 2005, 407-443. (‡)
"Demographic Developments, Funded Pension Provision and Financial Stability", Financial Stability Report No. 9, 2005, 93-109. (**)
"The Planning Horizon and Uncertainty in the Austrian Theory of Capital", Review of Austrian Economics Vol. 17 No. 1, 2004, 67-85. (‡)
"Electronic Money and the Unit of Account: Implications for Regulation and Monetary Policy", Revue Bancaire et Financière Vol. 66 No. 2-3, 2002, 98-101. (†)
"Competition in B2C eCommerce: Empirical Evidence and Analytical Issues", Electronic Markets Vol. 12 No. 3, 2002, 163-174 (with M. Latzer) (‡)
"Elektronisches Geld und die Recheneinheitsfunktion des Geldes", Wirtschaftspolitische Blätter Vol. 49 No. 2, 2002, 120-127. (†)
"E-commerce and the Structure of Intermediation", Journal of Computer Mediated Communication Vol.5 No. 3, 2000. (‡)
1 ‡ Double blind peer reviewed; ** Peer reviewed; † Editorial review; * by invitation
“People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Stress Testing the Banking Sector and Systemic Risk Analysis”, June 2021, (with F. Hespeler, R. Lafarguette, E. Mahoney, A. Myrvoda, S. Ng, N. Valckx, F. Han) https://www.imf.org/-/media/Files/Publications/CR/2021/English/1HKGEA2021002.ashx
“Survey on the interaction of regulatory instruments: results and analysis”, BCBS Working Paper 35 (March 2019) (Co-Chair with Doriana Ruffino; with I. Barakova, M. Birn, A. v. Hafften, M. Kutlukaya, C. Martin, V. Seidl, K. Steiner, T. Teramura, O. Toader) https://www.bis.org/bcbs/publ/wp35.pdf
“Systemic liquidity: concept, measurement and macroprudential instruments”, ECB Occasional Paper No. 214, Frankfurt. https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op214.en.pdf?f43ad002dfe78b9aab8b1d33c8c4accb (with members of the Task Force on Systemic Liquidity of the ESCB)
"Euro Area Policies: Financial Sector Assessment Program-Technical Note-Stress Testing the Banking Sector". IMF Country Report No. 18/228. http://www.imf.org/~/media/Files/Publications/CR/2018/cr18228.ashx (with M. Leika, L. Valderrama)
"Survey on the interaction of regulatory instruments: results and analysis", BCBS Working Paper 33 (July 2018) (Co-Chair with Doriana Ruffino; with C. Martin, M. Bucher, T. Tsuden, T. Teramura, M. Kutlukaya, I. Barakova, M. Birn, S. Chonco, E. Piani, D. Reinard) https://www.bis.org/bcbs/publ/wp33.pdf
"Bank Solvency and Funding Cost: New Data and New Results", IMF Working Paper 17/116 (May 2017) http://www.imf.org/en/Publications/WP/Issues/2017/05/15/Bank-Solvency-and-Funding-Cost-New-Data-and-New-Results-44914 (with M. Sigmund, L. Valderrama)
"Basel III and recourse to Eurosystem monetary policy operations", ECB Occassional Papers Series No. 171 (April 2016), http://www.ecb.europa.eu/pub/pdf/scpops/ecbop171.en.pdf (with A. Bucalossi, C. Coutinho, K. Junius, A. Luskin, A. Momtsia, I. Rahmouni-Rousseau, B. Sahel, A. Scalia, S. W. Schmitz, R. Soares, F. Schobert and M. Wedow)
"Making supervisory stress tests more macroprudential: Considering liquidity and solvency interactions and systemic risk", BCBS Working Paper 29 (November 2015), http://www.bis.org/bcbs/publ/wp29.htm (with TF members)
"Liquidity stress-testing: a survey of theory, empirics and current industry and supervisory practices", BCBS Working Paper 24 http://www.bis.org/publ/bcbs_wp24.pdf (with TF members)
"Literature review of factors relating to liquidity stress – extended version", BCBS Working Paper 25 (with TF members) http://www.bis.org/publ/bcbs_wp25.pdf
"Next Generation System-Wide Liquidity Stress Testing" IMF Working Paper No. 12/3 (January 2012), http://www.imf.org/external/pubs/cat/longres.aspx?sk=25509.0 (with C. Schmiedinger, H. Hesse, B. Neudorfer, C. Puhr)
"The Impact of the Basel III Liquidity Standards on the Implementation of Monetary Policy", (May 06, 2011). Available at SSRN: http://ssrn.com/abstract=1869810; International Finance eJournal Vol 3, No. 136, Monetary Economics eJournal Vol 3, No. 124, European Economics: Macroeconomics & Monetary Economics eJournal, Vol 5, No. 108, Institutions & Transition Economics: Macroeconomic Issues eJournal Vol 3, No. 51, Macroeconomics: Monetary & Fiscal Policies eJournal Vol 4, No. 113, Banking & Financial Institutions eJournal Vol 3, No. 125, Banking & Insurance eJournal Vol 3, No. 137, European Finance eJournal Vol 3, No. 129, Political Economy: International Political Economy eJournal Vol 5, No. 91.
"Structure and Stability in Payment Networks -A Panel Data Analysis of ARTIS Simulations", Economics of Networks WPS Vol. 6 No. 29, New Institutional Economics WPS Vol. 5 No. 25, Banking & Financial Institutions - WPS, Banking & Insurance - WPS, Risk Management - WPS, European Finance - WPS
"Systemically Important Accounts, Network Topology and Contagion in ARTIS", European Economics: Macroeconomics & Monetary Economics, MME: Banking & Monetary Policy (Topic) - CMBO, Banking & Insurance - WPS, Economics of Networks - WPS Vol. 5 No. 15, Capital Markets: Market Microstructure - WPS, International Finance - WPS, Information Systems: Behavioral & Social Methods - WPS, New Institutional Economics - WPS, Banking & Financial Institutions - WPS, European Finance - WPS, Risk Management - WPS, Monetary Economics - WPS at 05/2008 (with M. Boss, G. Krenn, V. Metz, C. Puhr)
"The Impact of Projected Demographic Developments on Funded Pension Provision in Austria" International Finance - WPS, Banking & Financial Institutions - WPS and Economic Growth - APS Labor: Demographics & Economics of the Family - WPS European Finance - WPS at SSRN, 12/2006.
"The Political Economy of Institutional Change in the Payment System and Monetary Policy", Banking & Financial Institutions WPS, Economic History WPS, Monetary Economics WPS, Regulation of Financial Institutions CMBO and New Institutional Economics WPS Vol. 2 No. 40 at SSRN, 10/2006.
"The Assessment of Operational Risk in the Austrian Large Value Payment System ARTIS", (with C. Puhr, H. Moshammer, M. Hausmann), International Finance WPS at SSRN, 02/2006.
"Liquidity, Risk Concentration and Network Structure in the Austrian Real Time Interbank Settlement System", (with C. Puhr), Banking & Finance WPS, European Finance WPS and Banking & Insurance (Forthcoming) WPS at SSRN, 12/2006.
"The Governance of Occupational Pension Funds and the Politico-Economic Implications: The Case of Austria", ERN New Institutional Economics WPS Vol. 1. No. 3; and Mutual Funds, Hedge Funds, & Investment Industry (Forthcoming) - WPS; and European Finance - WPS."B2C eCommerce Strategy and Market Structure: The Survey based Approach", Discussion Paper German Institute for Economic Research DIW WP 323, Berlin and Ecommerce Research Forum MIT WP 235, Boston M.A., 2003 (with P. P. Sint)
"B2C eCommerce: A Frictionless Market is not in Sight - Arguments and Policy Implications", paper presented at the conference: Innovations for an eSociety, 17 - 21 October 2001, Berlin, ICE - Working Paper Series No. 21 (with M. Latzer)
"Competition in B2C eCommerce: Analytical Issues and Empirical Evidence", Ecommerce Research Forum MIT WP 157, Boston M.A. and Proceedings of the International Conference on Electronic Commerce - ICEC 2001, Vienna, 2001 (with M. Latzer)
"Die New Economy - Literaturübersicht über methodische Grundlagen und empirische Ergebnisse für die USA und ausgewählte G-7 Länder mit dem Schwerpunkt Deutschland", ICE - Working Paper Series No. 19, 2001
"Grundlagen der Digitalen Ökonomie des Mediamatik-Sektors", ICE - Working Paper Series No. 16 (with M. Latzer)"Carl Menger's "Money" and the Current Neoclassical Models of Money", ICE - Working Paper Series No. 12 , 2001
"The Institutional Character of New Electronic Payments Systems: Redeemability and the Unit of Account", Ecommerce Research Forum MIT WP 114, Boston M.A., 2001 [also ICE - Working Paper Series No. 13]
"E-commerce and the Structure of Intermediation", Ecommerce Research Forum MIT WP 113, Boston M.A., 2000 [also ICE - Working Paper Series No. 2]
"The Planning Horizon and Uncertainty in the Austrian Theory of Capital", paper presented at the Austrian Scholars Conference, Auburn, April 1999.
"2022 Review of the macroprudential framework – ESRB Reply to the CfA and Background Report", ESRB, Frankfurt 2022 (with members of the IWG Drafting Team)
“Literature survey on benefits and costs of the Counter-Cyclical Capital Buffer (CCyB)” Note of the Research Group of the BCBS to the Task Force on Evaluation of Basel III, Basel 2022 (with members of the RES work stream on the CCyB)
"Enhancing macroprudential space in the Banking Union - Report from the Drafting Team of the Steering Committee of the Macroprudential Forum", Eurosystem/SSM, Frankfurt 2022 (with members of the MPF SC Drafting Team)
"Buffer Usability - Final Report of the MPAG/MPPG Expert Group on "banks' response to the crisis and policy effectiveness", Eurosystem, Frankfurt 2022 (with members of the Eurosystem Monitoring Group)
"Third Interim report of the Macro-Micro Workstream of the Working Group on Stress Testing", Third Interim Report to the Eurosystem Financial Stability Committee, Frankfurt 2022 (with members of the Subgroup on Macro- and Micro-Interaction of the Working Group on Stress Testing)
"Credit substitution across banks and beyond: a literature review and an empirical assessment through the lens of bank-firm relationship during the pandemic", Note submitted to the ESRB/Eurosystem, Frankfurt 2022 (with members of the Eurosystem Monitoring Group)
"Second Interim report of WS2 Macro-Micro of WGST", Second Interim Report to the Eurosystem Financial Stability Committee, Frankfurt 2020 (with members of the Subgroup on Macro- and Micro-Interaction of the Working Group on Stress Testing)
"The impact of the Basel III reforms on banks' lending – Preliminary findings", Note to the Policy Development Group of the Basel Committee on Banking Supervision, Basel 2020 (with members of the Research Task Force Micro Data work stream)
"Toward a framework for macroprudential stress testing of the banking sector", First Interim Report to the Eurosystem Financial Stability Committee, Frankfurt 2019 (with members of the Subgroup on Macro- and Micro-Interaction of the Working Group on Stress Testing)
"The impact of Basel III liquidity risk regulation on the recourse of banks to Eurosystem monetary policy operations and related effects on financial markets", Report to the Eurosystem FSC/MOC, Frankfurt 2012, (with members of the Eurosystem Financial Stability Committee (FSC) Joint FSC/MOC Task Force on Liquidity Regulation and Monetary Policy Implementation)
"Report regarding impact assessment for liquidity measures under Article 509(1) CRR", European Banking Authority, Chair of the EBA Project Team on the Impact Assessment of the LCR – EBA PTIA, London 2013, http://www.eba.europa.eu/documents/10180/16145/EBA+BS+2013+415+Report+regarding+LCR+impact.pdf,
"2011 EBA Liquidity Risk Assessment Team for the EU Commission", European Banking Authority, London 2011, (with with I. Jarofke, M. Roberts)
"Guidelines on liquidity costs benefit allocation", London, 2010, (with CEBS Liquidity Task Force members) http://www.eba.europa.eu/cebs/media/Publications/Standards%20and%20Guidelines/2010/Liquidity%20cost%20benefit%20allocation/Guidelines.pdf
"Guidelines on liquidity buffers and survival periods", London, 2009, (with CEBS Liquidity Task Force members) http://www.eba.europa.eu/documents/Publications/Standards---Guidelines/2009/Liquidity-Buffers/Guidelines-on-Liquidity-Buffers.aspx
"The Conceptual Framework of Common Rounds of Liquidity Stress Tests", Report to the Eurosystem Banking Supervision Committee, Frankfurt/Main 2009 (with members of the Eurosystem Bank Supervision Committee WGBD Task Force on EU banks' liquidity stress tests and contingency funding plans)
"Evaluation Report of Pilot Concerted Round of Common Liquidity Stress tests Report to the Eurosystem Banking Supervision Committee, Frankfurt/Main 2010 (with members of the Eurosystem Bank Supervision Committee WGBD Task Force on EU banks' liquidity stress tests and contingency funding plans)
"CEBS'S Technical advice on liquidity risk management (2nd part)", London, 2008, (with CEBS Liquidity Task Force members) http://www.eba.europa.eu/getdoc/bcadd664-d06b-42bb-b6d5-67c8ff48d11d/20081809CEBS_2008_147_(Advice-on-liquidity_2nd-par.aspx
"Report on EU banks liquidity stress tests and contingency funding plans", European Central Bank 2008 (with BSC WGBD Task Force on Liquidity Risk Management members) http://www.ecb.int/pub/pdf/other/eubanksliquiditystresstesting200811en.pdf
"Liquidity risk management in EU cross-border banks", Banking Supervision Committee, ECB, 2007 (with BSC WGBD Task Force on Liquidity Risk Management members) http://www.ecb.int/pub/pdf/other/eubankingstructures2007en.pdf
"Main drivers for international expansion – impact of population ageing", Banking Supervision Committee, ECB 2007 (with E. Rentzou) http://www.ecb.int/pub/pdf/other/eubankingstructures2008en.pdf
"The Impact of Aging on EU Banks", Banking Supervision Committee, ECB, 2006 (with E. Endlich, E. Garcia, O. Ranguelova, C. Dauchy) http://www.ecb.int/pub/pdf/other/eubankingstructures2006en.pdf
"Report on EU banks liquidity stress tests and contingency funding plans", European Central Bank 2008 (with BSC WGBD Task Force on Liquidity Risk Management members) http://www.ecb.int/pub/pdf/other/eubanksliquiditystresstesting200811en.pdf
"Institutional Change in Payments Systems by Electronic Money: Implications for Monetary Policy", Institute for Technology Assessment, Austrian Academy of Sciences, Vienna 2005 (co-edited with M. Latzer)
"Literaturbericht zu übergreifenden ökonomischen Konzepten und Fragestellungen des Elektronischen Handels", Gutachten für den Deutschen Bundestag (vorgelegt dem Büro für Technikfolgen-Abschätzung beim Deutschen Bundestag), Wien/Berlin, 2001 (with M. Latzer)
"Regionale Auswirkungen des e-commerce in Wien", Austrian Academy of Sciences, Vienna 2001 (with J. Bauer, M. Latzer, N. Just, and P. P. Sint)
"The Future of Mobile Communication - New Applications of Mobile Communication", Austrian Academy of Sciences/WIFO, Vienna 1999 (with M. Latzer, P. P. Sint, N. Knoll, H. Leo)
"Bankerwartungen und Intertemporale Fehlkoordination", Ph.D. Thesis Department of Economics, Vienna University, 1999 [partly published as "The Planning Horizon and Uncertainty in the Austrian Theory of Capital", Review of Austrian Economics Vol. 17 No. 1, 2004, 67-85]
"Die Zukunft der Mobilen Kommunikation", Austrian Academy of Sciences/WIFO, Vienna 1998 (with N. Just, M. Latzer, P. P. Sint, N. Knoll, H. Leo)
"Marketing Modul eines Rating Systems zur Evaluierung Innovativer Unternehmen" (with H. Leo), WIFO, Vienna 1998
"Eine Telekommunikationspolitik für Österreich", in: G. Hanappi (Ed.), Der Informationssektor in Österreich, Austrian Academy of Sciences, Vienna 1997, 168-212
"Beschäftigungstrends in der internationalen Telekommunikation", WIFO, Vienna 1996
Eurosystem Monitoring Group (finalized)
Eurosystem Macroprudential Forum Drafting Team (finalized)
ESRB Drafting Team for the 2022 Macroprudential Review of the EU Commission
Eurosystem Working Group on stress testing (WGST): Macro-Micro Interactions Workstream (WS2)
Eurosystem FSC Task Force on Systemic Liquidity (finalized)
Basel Committee on Banking Supervision Research Group (BCB RES) (formerly known as Research Task Force (BCBS RTF) (on-going)
Basel Committee on Banking Supervision Research Task Force: Micro Data Work Stream Basel III Impact Assessment (on-going)
Basel Committee on Banking Supervision Research Task Force: QIS Survey (on-going)
Basel Committee on Banking Supervision Research Task Force: TF on integrating liquidity and solvency stress testing (finalized)
Eurosystem Financial Stability Committee (FSC) Joint FSC/MOC Task Force on Liquidity Regulation and Monetary Policy Implementation (finalized)
Eurosystem Basel III Monitoring Group (finalized)
Eurosystem Banking Supervision Committee WGBD Task Force on Concerted Rounds of Common Liquidity Stress Tests BSC (finalized)
European Banking Authority Project Team on the Impact Assessment of the LCR – EBA PTIA (Chair) (finalized)
EU Commission CRDIV Liquidity Expert Group (finalized)
European Banking Authority Subgroup on Liquidity (on-going, formerly known as CEBS Liquidity Task Force)
European Banking Authority Liquidity Risk Assessment Team (finalized)
Eurosystem Bank Supervision Committee WGBD Task Force on EU banks' liquidity stress tests and contingency funding plans
Eurosystem Bank Supervision Committee WGBD Task Force on Liquidity Risk Management
Eurosystem Bank Supervision Committee WGBD Task Force on Ageing and banking
“Liquidity Stress Tests“, Macro Stress Testing, Kuwait Centre for Economics and Finance, October 7, 2024
“Practical Session on Liquidity Stress Tests“, Macro Stress Testing, Kuwait Centre for Economics and Finance, October 7, 2024
“Macroprudential feedback-loops: liquidity/solvency and capital/real economy”, Macro Stress Testing Kuwait Centre for Economics and Finance, October 8, 2024
“Workshop: Opportunity cost approach“, Macro Stress Testing, Kuwait Centre for Economics and Finance, October 8, 2024
“Policy implications of macrofinancial risk analysis and stress testing“, Macro Stress Testing, Kuwait Centre for Economics and Finance, October 8, 2024 (panel discussion w Mindaugas Leika and Jamshaid A. Chattha)
“Tools for monitoring systemic risk”, Macrofinancial Risk Analysis, International Monetary Fund – JVI, May 20, 2024
“Outline of the case study on Financial Stability Reports”, Macrofinancial Risk Analysis, International Monetary Fund – JVI, May 20, 2024 (with M. Leika and L. Schumacher)
“Liquidity risk analysis”, Macrofinancial Risk Analysis, International Monetary Fund – JVI, May 22, 2024
“Interaction of liquidity and solvency risk”, Macrofinancial Risk Analysis, International Monetary Fund – JVI, May 23, 2024
“Analysis of Macro feedback loops in the banking sector”, Panel discussion with M. Leika and L. Schumacher, Macrofinancial Risk Analysis, International Monetary Fund – JVI, May 23, 2024
“Policy implications of Macrofinancial Risk Analysis”, Panel discussion with M. Leika and L. Schumacher, Macrofinancial Risk Analysis, International Monetary Fund – JVI, May 23, 2024
“Presentations and discussion of case studies on Financial Stability Reports”, with M. Leika and L. Schumacher, Macrofinancial Risk Analysis, International Monetary Fund – JVI, May 24, 2024
“Liquidity Stress Tests” Course on Macrofinancial Stress Tests of Banks. Joint Vienna Institute. June 1, 2023
“Practical session: Example Hong Kong FSAP” Course on Macrofinancial Stress Tests of Banks. Joint Vienna Institute. June 1, 2023
“Liquidity Stress Tests: Macrofinancial Feedback Loops” Course on Macrofinancial Stress Tests of Banks. Joint Vienna Institute. June 2, 2023
“Modelling the Feedback-effect of Capital Depletion on Lending and the Macro-economy” Course on Macrofinancial Stress Tests of Banks. Joint Vienna Institute. June 2, 2023
“Workshop: Opportunity Cost Approach” Course on Macrofinancial Stress Tests of Banks. Joint Vienna Institute. June 2, 2023
“Wrap-up liquidity. Case presentation for students to solve and discuss on Tuesday afternoon – Case study “SVB – Liquidity-solvency- feedback effect”” Course on Macrofinancial Stress Tests of Banks. Joint Vienna Institute. June 5 and June 6, 2023
“Workshop: the opportunity cost approach to modelling the Feedback-effect of Capital Depletion” Course on Macro-Stress Testing. IMF-Middle East Center for Economics and Finance (CEF) Kuwait, October 5, 2022
“Modelling the Feedback-effect of Capital Depletion on Lending and the Macro-economy” Course on Macro-Stress Testing. IMF-Middle East Center for Economics and Finance (CEF) Kuwait, October 4, 2022 (with M. Leika)
“Modelling the macro-economic effects of a market exit and its implications for macroprudential policy” Course on Macro-Stress Testing. IMF-Middle East Center for Economics and Finance (CEF) Kuwait, October 4, 2022
“Liquidity Stress Tests: The Interaction between Solvency & Funding Liquidity / Funding Costs and Macrofinancial Feedback Loops” Course on Macro-Stress Testing. IMF-Middle East Center for Economics and Finance (CEF) Kuwait, October 4, 2022
“Practical session: Example Hong Kong FSAP 2021” Course on Macro-Stress Testing. IMF-Middle East Center for Economics and Finance (CEF) Kuwait, October 3, 2022
“Liquidity Stress Tests” Course on Macro-Stress Testing. IMF-Middle East Center for Economics and Finance (CEF) Kuwait, October 3, 2022
“Liquidity Stress Tests” IMF Regional Workshop: Advances in Macroprudential Stress Testing, IMF-Singapore Regional Training Institute, Singapore December 7, 2021
“Practical Session on Liquidity Stress Tests” IMF Regional Workshop: Advances in Macroprudential Stress Testing, IMF-Singapore Regional Training Institute, Singapore December 8, 2021
“Feedback-effects in Macroprudential Liquidity Stress Tests” IMF Regional Workshop: Advances in Macroprudential Stress Testing, IMF-Singapore Regional Training Institute, Singapore December 8, 2021
“Modelling the Macro-economic Effects of a Bank Market Exit” IMF Regional Workshop: Advances in Macroprudential Stress Testing, IMF-Singapore Regional Training Institute, Singapore December 8, 2021
“Modelling the Feedback-effect of Capital Measures on Lending and the Macro-economy” (with M. Leika) IMF Regional Workshop: Advances in Macroprudential Stress Testing, IMF-Singapore Regional Training Institute, Singapore December 9, 2021
Co-Organizer and Co-Chair, Workshops on Climate Stress Tests in Asia and on Central Bank Digital Currencies, December 10, 2021
“The integrated approach to macroprudential supervision in Austria” Bank de France Seminar on Financial stability and macroprudential policies of central banks, November 15-17, 2021
“The future of money? Digital currencies?” Association of Trade Delegates in Austria, April 22nd, 2021
“The future of money? Digital currencies?” LSE-MIT Alumni Association Austria, March 3rd, 2021
“Bank Solvency and Funding Cost: New Data and New Results”, presentation at the Eurosystem Working Group on Stress Testing, February 10th, 2021 (presented by L. Valderrama)
“Liquidity Stress Tests”, IMF Regional Workshop: Advances in Macroprudential Stress Testing, IMF-Singapore Regional Training Institute, Singapore December 2, 2020
“LCR Usability & COVID-19 Related Liquidity Measures”, IMF Regional Workshop: Advances in Macroprudential Stress Testing, IMF-Singapore Regional Training Institute, Singapore December 2, 2020
“Modelling the Effect of Covid-19 Related Capital Measures on Lending and the Macro-economy”, (with M. Leika, IMF), IMF Regional Workshop: Advances in Macroprudential Stress Testing, IMF-Singapore Regional Training Institute, Singapore December 2, 2020
“Macroprudential Buffers: Use Versus Release”, (with M. Leika, IMF), IMF Regional Workshop: Advances in Macroprudential Stress Testing, IMF-Singapore Regional Training Institute, Singapore December 3, 2020
“COVID-19 Related Capital Measures”, (with M. Leika, IMF), IMF Regional Workshop: Advances in Macroprudential Stress Testing, IMF-Singapore Regional Training Institute, Singapore December 3, 2020
“Capital Preservation: Dividends and Buy-backs”, (with M. Leika, IMF), IMF Regional Workshop: Advances in Macroprudential Stress Testing, IMF-Singapore Regional Training Institute, Singapore December 3, 2020
Co-Organizer and Co-Chair, Workshop on Covid-19 related Stress Tests in Asia, December 4, 2020
“Core requirements of macroprudential stress tests”, IMF Regional Workshop: Advances in Macroprudential Stress Testing, IMF-Singapore Regional Training Institute, Singapore November 28, 2019
“Systemic Liquidity Risk”, OECD, Financial Market Committee, April 25, 2019
“Introduction to liquidity stress testing”,presentation and workshop at the IMF STI course on Macro Stress Testing, Singapore 29/10-02/11, 2018
“Feedback effects between banks and the real economy: Solvency, funding costs and the back-/frontbook effects”, Stress Testing Course JVI Vienna, 16 January 2019 (with M. Leika)
"How stress affects market behavior, financial stability and efficiency: assessments of feedback effects between financial and real sector", presentation at the IMF-Bank of Russia Workshop: Recent Developments in Macroprudential Stress Testing, 4-5 September 2018, Moscow (with M. Leika)
"Strengthening the euro area by addressing flawed incentives in the financial system”, presentation at the Workshop „Europe 2030: building a more resilient European Monetary Union” at the Oesterreichische Nationalbank, Vienna, June 26, 2018
"Overview and Developments in Liquidity Stress Testing”, presentation at the Single Resolution Board, Brussels, May 15, 2018
"Liquidity Stress Testing", presentation and workshop at the IMF STI course on Macro Stress Testing, Singapore 01/11-03/11, 2017
How to make stress tests more macroprudential - Integrating second-round effects & macro-financial feedback-loops, Workshop given at the International Monetary Funds, Washington, D.C., Friday, 21st July, 2017
"Bank Solvency and Funding Cost: New Data and New Results", presentation at the conference on European Finance and Banking, Bologna, September 1-2, 2016 (presented by M. Sigmund)
"Systemic Liquidity", presentation and workshop at the Joint Vienna Institute, Vienna, August 4, 2016
"Macroprudential liquidity stress tests", Workshop at the Magyar Nemzeti Bank, Budapest, July 12, 2016
"Macroprudential liquidity stress tests", Workshop at the Danmarks Nationalbank, Copenhagen, June 16, 2016
"Bank Solvency and Funding Cost: New Data and New Results", presentation at the IFABS Barcelona Conference, Barcelona, June 1-3, 2016 (presented by M. Sigmund)
"OeNB's reaction to the collapse of the Bretton Woods System in 1971", Financial Interconnections in History - Did financial globalisation increase or decrease stability?, Meeting of the European Association for Banking and Financial History, Vienna, April 26, 2016
"Liquidity Stress Testing", presentation and workshop at the IMF STI course on Macro Stress Testing, Singapore 18/11-20/11, 2015
“Modelling solvency and liquidity stress interactions”, 6th Expert forum on advanced stress testing techniques IMF/CCBS, London, December 9/10, 2014
“Liquidity stress testing”, presentation at the IMF STI course on Macro Stress Testing, Singapore 29/09-03/10, 2014
„Liquidity stress testing“, DNB Seminar 'Liquidity Risk Management - The LCR and beyond.', De Nederlandsche Bank, Amsterdam, May 15, 2014
“The integration of liquidity and solvency risk in stress testing models”, ATC Workshop on second round effects in stress tests, ECB Frankfurt, November 25, 2013 (with C. Puhr)
“The impact of the LCR on the implementation of monetary policy”, ECOBATE 2013 - 2nd European Conference on Banking and the Economy, Winchester, March 6, 2013
“Liquidity & the CRD IV/CRR”, RiskMinds2012, Amsterdam, December 6
“The policy perspective: where do we stand in the Eurosystem?”, ECB Workshop on Excess liquidity and money market functioning, Frankfurt/Main, November 19-20
"CRD IV/CRR, liquidity stress testing & monetary policy", International Monetary Fund, Washington, D.C., October 16 2012
"System-Wide Liquidity Stress Testing, 5th Annual Liquidity Management Conference", Singapore, September 13, 2012
"The Impact of the Basel III Liquidity Standards on the Implementation of Monetary Policy", Money Macro and Finance Conference 2012, Dublin, September 7 2012
"Implementing macroprudential liquidity stress testing", European Supervisory Education Initiative, Luxemburg, April 26, 2012
“CRD IV/CRR Liquidity Regulation & Monetary Policy”, CEPS round table on CRD IV/CRR, Brussels, April 12, 2012
"The rationale for macro-prudential regulation", Banking Regulation 2011 Governance-Risk-Compliance, London, October 12-13, 2011
"The CRD IV/CRR and macro-prudential liquidity stress tests", Seminar at Norges Bank & Finanstylsynet, Oslo, October 3, 2011
"The Implementation of macro-prudential liquidity stress tests", RiskCapital 2011, Frankfurt, September 21, 2011
"Structure and Stability in Complex Systems - An empirical analysis of the interbank payment system ARTIS Evidence", National Bank of Serbia Research Seminar, Belgrade, September 9, 2011 (with C. Puhr)
"The Implementation of Basel III Liquidity Standards in CRD IV", The 2011 Forum on Basel III Implementation, July 12, Zurich
"Varieties of helping capitalism: politicoeconomic determinants of bank rescue packages in the EU during the recent crisis" DVPW Tagung Die Globale Finanzkrise in politikwissenschaftlicher Perspektive, Marburg, May 27-28, 2011 (presented by B. Weber)
"Liquidity risk stress testing - NCB perspective", European Supervisory Education Initiative seminar, Frankfurt, May 18, 2011
“Regulation & Liquidity Stress Tests”, RiskMinds 2010, December 10, 2010, Geneva
“Varieties of helping capitalism. Politico-economic determinants of bank rescue packages in the EU during the recent crisis”, Research Workshop “Policy-making in hard time: Explaining the Variation in Policy Reactions to the Global Economic and Financial Crisis in Industrialized Democracies”, Mannheimer Zentrum für europäische Sozialforschung, Mannheim, November 5-6, 2010 (with B. Weber)
“The economic impact of financial market regulation”, Informal Workshop DG ECFIN, Brussels, July 16, 2010 (with C. Ragacs and E. Kopp)
“Liquidity regulation” and “Liquidity stress testing”, IMF-JVI Applied Economic Policy Course, Vienna July 2010
“The new Basel liquidity standards and their implementation into EU legislation”, Seminar Basel II Enhancements, Bank for International Settlements Basel, April 28, 2010
“Liquidity risk stress testing – NCB perspective” and “Implementation of Basel liquidity rules into EU-legislation”, European Supervisory Education Initiative seminar, Eltville, April 14, 2010
“Varieties of helping capitalism”, Finance in Question/Finance in Crises Conference, Manchester, April 13, 2010 (with B. Weber)
“Structure and Stability in Payment Systems”, COST Workshop on Complex System, Medical University of Vienna, March 12, 2010 (with C. Puhr)
“Die Pensionskassen in der Wirtschafts- und Finanzkrise“, General Assembly PeKaBe, Vienna, March 10, 2010
“Liquidity Stress Testing”, Seminar on Stress Testing, JVI, Vienna, March 8, 2010
“Liquidity stress tests and regulation”, RiskMinds 2009, Geneva, December 9, 2009
“Stability and Network Structure in Large Value Payment Systems”, Lunch Research Seminar Norges Bank, Oslo November 2, 2009 (with C. Puhr)
“Quantitative Risk Assessment in Large Value Payment Systems”, JVI Seminar Cash Circulation and Payment Systems in Austria, Vienna October 8, 2009 (presented by C. Puhr)
“Recent Advances in Modelling Systemic Risk using Network Analysis”, ECB Workshop, Frankfurt October 5, 2009 (presented by C. Puhr)
“Stress testing liquidity risk”, Central Banking Publishers Seminar “New Challenges in Financial Regulation and Supervision“, Cambridge UK, September 18, 2009
“The Relationship between Network Topology and Contagion – A Panel Data Approach for ARTIS”, 41st Money, Macro and Finance Conference, Bradford, 7-9 September 2009
"Varieties of helping capitalism", Capitalism in Crisis?, Society for the Advancement of Socio-Economics, Sciences Po, Paris 16-18 July 2009 (with B. Weber)
"Liquidity Risk Management, Regulation and Financial Stability" (with F. Weidenholzer), "Macro- and Micro-Liquidity Stress Tests", "The Emergence of the Crisis" IMF-JVI Applied Economic Policy Course, Vienna July 2009
"Central banks and systemic liquidity risk: the role of stress testing", 6th Annual RiskCapital Conference, Brussels June 2009
"Liquidity Stress Testing: Central Bank Approach", 8th Annual Liquidity Management Conference, London March 2009
"Stress Testing Liquidity", JVI Course Introduction to Stress Testing, Vienna March 2009
"Demografischer Wandel - Implikationen für den Bankensektor", Tagung des Westfälisch-Lippischen Sparkassen- und Giroverband, Henrichshütte/Dortmund, November 2008
"Statistical Analysis and Simulation of Operational Risk in ARTIS", JVI Course Cash Circulation and Payment Systems in Austria, Vienna October 2008 (with C. Puhr)
"Financial Stability in the EU", JVI Course Challenges on the Road to the Euro: Inflation, Exchange Rate Stability and Credit Growth, Vienna September 2008
"The Relationship between Network Topology and Contagion - A Panel Data Approach for ARTIS", Payment and Settlement Simulation Seminar and Workshop, Bank of Finland, Helsinki August 2008
"Pensionskassen: Macht, Steuerungsstruktur und Performance", GPA Wien, 13. Juni 2008
"Lessons from the 2007 Financial Turmoil (2): The Money Market and Liquidity Risk Management", IMF-JVI Applied Economic Policy Course, Vienna May 2008
"Liquidity Risk Management and Financial Stability", IMF-JVI Applied Economic Policy Course, Vienna May 2008 (with Florian Weidenholzer)
"Banks' Liquidity Risk Management and Central Banks", 7th Annual Liquidity Management Conference, London April 2008
"Statistical Analysis and Simulation of Operational Risk in ARTIS", JVI Course Cash Circulation and Payment Systems in Austria, Vienna October 2007 (with C. Puhr)
"Governancestruktur und Verteilung der Risiken im österreichischen Pensionskassensystem", Konferenz Pensionskassen: Europa-Österreich. Strukturen, Erfahrungen, Perspektiven, AK-Wien, Vienna October 2007
"Financial Stability in the EU", JVI Course Challenges on the Road to the Euro: Inflation, Exchange Rate Stability and Credit Growth, Vienna September 2007
Ageing and its impact on banks, financial markets, and the current account, "Demographic Change and Financial Services: a Short List of Threats - a Long List of Opportunities?"8th International Sustainability Leadership Symposium, Zurich 27 - 28 September 2007
The Impact of Ageing on Occupational Pension Funds in Austria, Money, Macro and Finance Conference, Birmingham, 11-13 September 2007
The Governance of Occupational Pension Funds and the Politico-Economic Implications: The Case of Austria, Workshop 'Corporate Governance and Labour in the Era of Financial Capitalism', Vrjie Universiteit Amsterdam, 2-3 July 2007
The Political Economy of Financial Regulation, IMF-JVI Applied Economic Policy Course, Vienna May 2007
The Assessment of Operational Risk in Payment Systems, IMF-JVI Applied Economic Policy Course, Vienna May 2007
The Impact of Projected Demographic Developments on Funded Pension Provision in Austria, SUERF Colloquium Money, Finance and Demography - the Consequences, Lisbon 11-13 October 2006
Statistical Analysis and Simulation of Operational Risk in ARTIS, IMF-JVI Seminar Cash Circulation and Payment Systems in Austria, Vienna, 2-6 October 2006
Simulating Payment Systems", Course on Payment System Oversight, Central Banking Publications, King's College, Cambridge (UK), 7 September 2006
Payment Systems and Monetary Policy, Course on Monetary Operations, Central Banking Publications, King's College, Cambridge (UK), 6 September 2006
Assessing operational risk in ARTIS, Workshop on Payment System Simulation, Bank of Finland, Helsinki, 21-23 August 2006 (wirh C. Puhr)
Institutional change in the payments system and monetary policy, seminar at the Bank of Finland, Helsinki, 27 June 2006
The Impact of Aging on EU Banks, WGBD Meeting, Vienna, 13 June 2006 (with E. Endlich)
The Economic Rationale for Financial Regulation, IMF-JVI Applied Economic Policy Course, Vienna May 2006
Objectives and Instruments of Macroprudential Financial Analysis, IMF-JVI Applied Economic Policy Course, Vienna May 2006
Risk Concentration and Operational Risk in Payment Systems - A Simulation Approach, IMF-JVI Applied Economic Policy Course, Vienna May 2006 (with C. Puhr)
Will Central Banking Survive Electronic Money?, The Future of Payments, Invited Speaker, Bank of England, London 19-20 May 2005
The Economic Rational for Financial Regulation, IMF-JVI Applied Economic Policy Course, Vienna May 2005
The Governance of Occupational Pension Funds in Austria and its Politico-Economic Consequences, The Political Economy of Financial Governance, Workshop at Oesterreichische Nationalbank, Vienna 26 November 2004
eMoney and Monetary Policy: The Role of the Inter-eMoney-Institutions-Market for Settlement Media and the Unit of Account, Institutional Change in the Payment System and Implications for Monetary Policy, Workshop at the Austrian Academy of Sciences, Vienna 26 June 2004
Monetary Policy in a World without Central Bank Money, Institutional Change in the Payment System and Implications for Monetary Policy, Workshop at the Austrian Academy of Sciences, Vienna 26 June 2004
Status and Dynamics of Viennese B2C eCommerce Companies, International Telecommunications Society (ITS) 14th European Regional Conference, Helsinki, Finland, August 2003, (with N. Just and M. Latzer)
Status and Dynamics of VienneseB2C eCommerce Companies, International Telecommunications Society (ITS) 14th European Regional Conference, Helsinki, Finland, August 2003,(with N. Just and M. Latzer)
eMoney and Monetary Policy: The Role of the Inter-eMoney-Institution Market for Settlement Media and the Unit of Account -- A Critical Assessment of the Literature, Financial Stability Seminar, Bank of England, April 2003
B2C eCommerce Strategy and Market Structure: The Survey-Based Approach, International Industrial Organization Conference - IIOC, Boston, April 2003
Erfolgsfaktoren im B2C Bereich- Ergebnisse einer empirischen Untersuchung, Workshop eCommerce revisited an der Akademie für Technikfolgen-Abschätzung beim Land Baden-Württemberg, Stuttgart, Dezember 2002
The Effects of Company Strategies and Characteristics on the Performance of Viennese B2C eCommerce Companies: Econometric and Non-parametric Approaches, ITS Regional Conference, Madrid, September 2002
The Effects of Company Strategies and Characteristics on the Performance of Viennese B2C eCommerce Companies: Econometric and Non-parametric Approaches, German Institute for Economic Research DIW-Berlin, Berlin, September 2002
The Planning Horizon and Uncertainty in the Austrian Theory of Capital, 6th Annual Conference of the European Society for the History of Economic Thought, Rethymno, Crete, March 2002
The Determinants of Market Structure in B2C eCommerce, Workshop e-Life after the dot.com bust, German Institute for Economic Research, Berlin, December 2001 (with M. Latzer)
Übergreifende Ökonomische Konzepte des Elektronischen Handels, Gutachter-Workshop des Deutschen Bundestags, Berlin, November 2001
Competition in B2C eCommerce: Analytical Issues and Empirical Evidence, International Conference on Electronic Commerce - ICEC 2001, Vienna, October/November 2001 (with M. Latzer)
The institutional character of new electronic payments systems: redeemability and the unit of account, Technology and Finance: challenges for financial markets, business strategies and policy makers, 23rd SUERF Colloquium & Belgium Financial Forum at the National Bank of Belgium, Brussels, October 2001
B2C eCommerce: A Frictionless Market is Not in Sight: Arguments and Policy Implications, Innovations for an eSociety, Institut für Technikfolgenabschätzung und Systemanalyse, Bundesministerium für Wissenschaft und Forschung, VDE/VDI, Berlin, October 2001 (with M. Latzer)
Kommentar zur Studie eCommerce & Beschäftigung, Workshop eCommerce & Beschäftigung an der Akademie für Technikfolgen-Abschätzung beim Land Baden-Württemberg, Stuttgart, Juli 2001
Electronic Money: Redeemability and the Unit of Account, Austrian Perspectives on the New Economy, Association des Historiens de la Tradition Economique Autrichienne (AHTEA), Pisa - Lucca, May 2001B2C eCommerce in Austria: Empirical Results and Analytical Implications for Market Structure and Consumer Behaviour, International Telecommunication Society - European Conference , Lausanne, September 2000 (with M. Latzer)
Veränderungen der Marktstrukturen in der Digitalen Ökonomie, Kommunikationskulturen zwischen Kontinuität und Wandel. Universelle Netzwerke für die Zivilgesellschaft. Jahrestagung der DGPuK und der ÖGK, Wien, Juni 2000 (with M. Latzer)
The Global Information Society and the Transformation of Statism: The Case of Austria, Center for Austrian Studies, University of Minnesota, Minneapolis, May 2000
E-commerce and the Structure of Intermediation, International Association of Media and Communication Researchers European Meeting, Leipzig, July 1999
The Planning Horizon and Uncertainty in the Austrian Theory of Capital, Austrian Scholars Conference, Auburn/AL, April 1999
Oxford Economic Papers (OEP), Electronic Markets (EM), Journal of Computer Mediated Communication (JCMC), Electronic Commerce Research and Applications (ECRA), Journal des Economists et des Etudes Humaines (JEEH).