Is fiscal stimulus really necessary?
On Wednesday 25 January, during an interactive discussion with students, Prof. Lex Hoogduin will respond to the arguments Prof. Coen Teulings shared at the first edition of the Witteveen Lecture. Teulings argued that demographic developments are the cause of the current low interest rates and that fiscal stimulus is a necessity.
In an article for Het Financieele Dagblad, Prof. Lex Hoogduin and Dr. Mary Pieterse-Bloem, Assistant Professor of Erasmus School of Economics, criticized these ideas. According to them the monetary system itself caused the current low interest rates. During the lecture, Prof. Lex Hoogduin will shortly explain his ideas followed by a discussion with students.
To participate in this event please fill in the registration form below.
There will be plenty of time for questions and discussion, so it is recommended to prepare in advance. It might be useful to dive into the topic by reading the article of Prof. Lex Hoogduin and Dr. Mary Pieterse-Bloem via the following links in English or Dutch: Article English or Article Dutch. You can also read the initial paper of Prof. Coen Teulings called: Are Bubbles Bad.
Lex Hoogduin (Leiden, 1956) is currently Professor Economics of Complexity and Uncertainty in Financial Markets and Financial Institutions the University of Groningen. Hoogduin was Global Chief Economist for Robeco between 2005 and 2008, and from August 2006 also managing director of the Institute for Research and Investment Services B.V., an institute that conducts investment studies for businesses. From 2009 to 2011, Hoogduin was a member of the board of the Dutch central bank (DNB).
The programme structure of the day is as follows:
- 15:45 Arrival of participants in ‘Senaatszaal’, Erasmus Building (A1-32)
- 16:00 Introduction by Prof. Casper de Vries, holder of the H.J. Witteveen Chair of monetary economics at Erasmus School of Economics
- 16:05 Lecture by Prof. Lex Hoogduin, Professor Economics of Complexity and Uncertainty in Financial Markets and Financial Institutions the University of Groningen
- 16:30 Discussion with students moderated by Dr. Mary Pieterse-Bloem, Global Head of Fixed Income Strategy & Portfolio Management, Assistant Professor Erasmus School of Economics
- 17:15 Closing by Prof. Casper de Vries
- 17:30 Drink (next to the ‘Senaatszaal’)