44th ECONOMICS CONFERENCE 2017 of the OeNB in cooperation with SUERF 
The Financial System of the Future

Publisher and Editor: Oesterreichische Nationalbank
Scientific coordinators: Ernest Gnan and Martin Summer

Opening remarks
Ewald Nowotny

Opening address: The Financial System of the Future
Thomas Drozda

Session 1
Digital money and digital banking

Introductory remarks: Digital money and digital banking
Doris Ritzberger-Grünwald

The macroeconomics of central-bank-issued digital currencies
Michael Kumhof

Banking without banks: Will technology transform financial intermediation?
Thomas Puschmann

Session 2
Keynote address

Introductory remarks: Preparing banking regulation for the future
Andreas Ittner

The political economy of central banking in the digital Age
Sir Paul Tucker

Session 3
Technological change and the future of financial intermediation

Introductory statement: Technological change and the future of financial intermediation
Martin Summer

PSD2 and open banking: the policy issues
Patricia Jackson

Technological change and the future of financial intermediation
John Kay

Session 4
The capital markets of the future

The capital markets of the future: positive versus normative aspects
Ernest Gnan

High-frequency trading: risks and benefits
Nikolaus Hautsch

Smart contracts and corporate governance
David Yermack

Klaus Liebscher Award ceremony

Dinner speech

The banking sector – fit for the future?
Hans Jörg Schelling

Session 5
Technological change and the future of cash

Introductory statement: Technological change and the future of cash
Kurt Pribil

Is cash back? Assessing the recent increase in cash demand
Clemens Jobst, Helmut Stix

Money and payments in the digital age: innovations and challenges
François R. Velde

Session 6
FinTech: opportunities and challenges for banks and Regulators

The FinTech Revolution: More important than the ATM?
Peter Mooslechner

Financial innovation – a regulator’s perspective
Klaus Kumpfmüller

Session 7
SUERF annual lecture

Is the post-crisis financial system more resilient? What remains to be done?
Erkki Likkanen

Contributors

Download the Conference Proceedings:

The Financial System of the Future