Project Monetary and Financial Stability

Main objective of the Institute for Monetary and Financial Stability is the implementation of the "Project Monetary and Financial Stability" that is supported by the Foundation for Monetary and Financial Stability (Stiftung Geld und Währung). The IMFS aims at raising public awareness of the importance of monetary and financial stability. The Stiftung Geld und Währung was founded on 1 January 2002 by federal law. Its endowment funds come from the sale of 1 DM gold coins in 2001 that were issued at the occasion of the euro cash introduction in memory of the D-Mark.

Fields of research

1. Monetary economics

  • Significance of price stability
  • Analysis of different stability-oriented strategies of monetary policy
  • Trade cycles, monetary policy and the role of expectations
  • Development and implementation of macroeconomic models
  • Implementation of monetary policy

2. Financial market economics and financial stability

  • Financial regulation and financial supervision: economic aspects and effects
  • "Financial Stability" in a national and international framework

3. Money, currency and central bank law

  • Institutional framework of the European system of central banks
  • Legal instruments of the system and their systematization
  • Legal analysis of the interface between monetary and economic policy
  • The Stability and Growth Pact
  • Regulation of financial markets and supervision of the actors
  • Fiscal federalism, budgetary rules and governments deficit in Germany
  • Interaction between the Euro Area and international financial structure
Interdisciplinary research

The research areas of the three endowed chairs are closely connected and aimed at interdisciplinary work. The support by the foundation Stiftung Geld und Währung makes long-term interdisciplinary basic research in the area of money and currency possible.

Public and target group-oriented activities

All events are either part of research projects or serve the general purpose of the Institute: tp promote an awareness of stable money and stable finances including a stability-promoting institutional framework.

The following activities serve the latter purpose: