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Jana Mareckova and Dr. Roxana Halbleib, two young researchers from the Chair of Economics and Econometrics at the Department of Economics of University of Konstanz participated at this year Lindau Nobel Laureate Meeting on Economic Sciences from 22nd of August until 26th of August 2017.

"What a week"

Recapitulating my participation in the 6th Lindau Nobel Laureate Meeting on Economic Sciences, nominated by the Graduate School of Decision Sciences at University of Konstanz and supported by the AKB Stiftung and Lindau Nobel Laureate Meetings Foundation, it can be summarized in three words: “What a week!” A week full of great lectures, interesting talks, newly built friendships and incredible spirit. What makes this event work? Everyone is connected by Economics. All of us go to talks and panel discussions ranging from inequality over monetary policy to climate change. Every single talk was very inspirational. It was a pleasure to listen to them and challenge some of the mentioned points. Discussion inspired by the talks was a good platform for pinning down important economic issues and looking for ways how economic science could address them. There are still many questions to be asked and answered by rigorous research based on data and right methods. The meeting is not only about science. Going to the meeting gives a great opportunity to build personal relationships and connections. The participants have a lot of opportunities to engage in conversation with the Nobel Laureates. The Nobel Laureates are around during the coffee breaks, lunches and dinners. Topics to discuss are free to choose and endless. During one of the lunches, we listened to a story how Peter Diamond received the news of winning the Nobel Prize. During the first “Get-Together” dinner with Nobel Laureates, I had a chance to join the table of Daniel McFadden and talk about his latest work. As a highlight of the whole Lindau meeting I got a promise from Prof. McFadden that he will send me his Econometrics lecture notes with new chapters about Bayesian estimation. What can I say? What a week!

– Jana Mareckova

"A unique experience"

My privilege to participate at the 6th Lindau Nobel Laureate Meeting on Economic Sciences is due to the nomination from Zukunftskolleg and the financially support by Zukunftskolleg and the Foundation Lindau Nobel Laureate Meetings. The meeting was a once in a life experience during which the young economists got inspired by the academic leaders in the field from listening to their official talks or from the numerous personal discussions. The meeting was a great experience that offered unique opportunities to learn about the laureates’ latest research interests and share and discuss with them, but also with the peer colleagues, research ideas and views. Particularly inspiring were the talks given by Jean Tirole on the morality of markets and the role of individual and corporate responsibility in the market economy as well as by Bengt Holmström on the opacity of banking and money markets and the necessity of making them more transparent in the light of the previous financial crisis. Although one expected more talks/discussions related to financial crises and on what we, the ones in the academic community, should focus on in the future in order to avoid such disasters, the talks of Lars Peter Hansen (on uncertainty in climate economics modelling), Christopher Sims (on the role of central banks), Oliver Hart (on the communication between shareholders and managers on maximizing welfare versus wealth), Christopher Pissarides (on the role of technological changes on the job profiles) and Erik Maskin (on what is an appropriate election system for presidents) were also very interesting and inspiring. Also at the personal level, participating at this meeting was a great success as it led to become part of a broad networking and community of young economists from all over the world and, in particular, to make, hopefully, long lasting friendships with several peer colleagues. In one sentence, it was a long, but very intensive week filled up with continuous great intellectual challenges and very pleasant social encounters.

– Dr. Roxana Halbleib