Global Economy Lecture 2026 (event)
28September2026 11:00 am CESTThe International Monetary System: Current and Future ChallengesIn cooperation with:Oesterreichische Nationalbank (OeNB)VenueOesterreichische Nationalbank (OeNB)Otto-Wagner-Platz. . .
28September2026 11:00 am CESTThe International Monetary System: Current and Future ChallengesIn cooperation with:Oesterreichische Nationalbank (OeNB)VenueOesterreichische Nationalbank (OeNB)Otto-Wagner-Platz 31090 Vienna'Veranstaltungssaal' (ground floor)or online via WebexDescriptionThe International Monetary System has always been evolving and adapting to a changing global economy. This lecture starts with a review of some of the key facts about the structure of the IMS and its evolution. A central finding is that the trade network is already multipolar even as the finance network remains unipolar, centered on the dominance of the US dollar and of the US Treasuries as the global safe asset. I then review classical theories of the stability or instability of the International Monetary System and find them unable to account for these evolutions. Instead, I argue that growing domestic imbalances -from the two leading countries, the US and China- and rising geoeconomic fragmentation represent the most serious threats to global stability. I conclude by exploring whether the international financial architecture could be strengthened through the provision of synthetic reserve assets. SpeakerPierre-Olivier GourinchasProfessor at UC Berkley | former Chief Economist of the International Monetary FundDateMonday, 28 September 202611:00-12:30 CESTPlease save the date. The registration link will be available shortly. The Global Economy Lecture is jointly organized by the Oesterreichische Nationalbank (OeNB) and The Vienna Institute for International Economic Studies (wiiw). If you would like to notify OeNB of any address changes or if you would like other interested experts to receive a personal invitation, please contact the OeNB’s event management by e-mail atevent-management@oenb. at.