Clemens Jobst (OeNB), Hans Kernbauer (Universität Wien), Marc Flandreau (Graduate Institute Geneva), Die Bank. Das Geld. Der Staat. Presentation.
Caught up in the costly Napoleonic wars, Austria went into sovereign default in 1811. Five years on, the public authorities founded a national bank to be financed and run by private shareholders, the idea being that an independent bank would help rebuild trust in money. During the 200 years that followed, the Nationalbank emerged from the treasury’s banker of choice into a central bank, and from a private stock corporation into a public institution. Yet the challenges facing today’s Nationalbank are a surprising echo of the past.
At the occasion of this year’s bicentennial, Clemens Jobst and Hans Kernbauer have undertaken to trace the monetary history of Austria, from the Nationalbank’s predecessor, the Wiener Stadtbanco, to Austria’s integration into the euro area today. In the presentation they will explain their approach to the Bank’s history. The book has been published in German as well as in an English translation under the title „The Quest for Stable Money.“
Presentation of the book
Clemens Jobst (OeNB) und Hans Kernbauer (Economics University Vienna)
Marc Flandreau (Graduate Institute Geneva)