Special coverage: Lindau Nobel Laureate meeting
About the Lindau Nobel Laureate meetings
The Lindau Nobel Laureate meetings foster exchanges between scientists of different generations, cultures, and disciplines.
What is it?
Once every year, about 30 Nobel Laureates convene at Lindau to meet the next generation of leading scientists: 400-500 undergraduates,
PhD students, and post-doc researchers from all over the world.
The events are jointly organised by two institutions – the Council for Lindau Nobel Laureate meetings and the Lindau Nobel Laureate meetings Foundation. They act in concert ensure the meetings continue, and to advance their constant development.
Who can participate?
Attending the annual gathering of Nobel Laureates at Lindau is by invitation only; invitations are issued exclusively to young scientists aged up to 35 – undergraduates, PhD students, and post-doc researchers. To participate, they must pass a multi-step application and selection process. For young scientists at the beginning of their careers it is a valuable opportunity to meet Nobel Prizewinners, to seek their advice, to exchange ideas and views, and to discuss current developments in science and beyond.
Special coverage: Lindau Nobel Laureate meeting
Chiara Perillo shared the stage with three Nobel Prize winners!
Economist Chiara Perillo was invited to speak at the Lindau Nobel Laureate meeting on changing monetary and fiscal policy, as well as her research on the implications of quantitative easing in the euro area.
About Chiara Perillo
I come from Italy, specifically from Sardinia, a wonderful island in the middle of the Mediterranean Sea, where I pursued a Bachelor’s degree in Economics and Finance and a Master’s degree in Economic Sciences. I recently started the second year of my PhD in finance at the University of Zurich, within the Marie Sklodowska-Curie Innovative Training Network (ITN) BigDataFinance. The rogramme provides doctoral training in sophisticated data-driven risk management and research at the crossroads of finance and Big Data. It aims at developing and implementing new quantitative and econometric methods for empirical finance and risk management with large and complex datasets.
Her project
My research project focuses on Systemic Risk and Financial Networks and seeks to analyse systemic risk from a network perspective, combining theoretical modelling, empirical analysis, and practical (policy) applications. Currently, I am working on the effects of unconventional policies aimed at achieving both price and financial stability. In particular, I am
investigating the real implications of Quantitative Easing in the euro area by combining a financial network analysis with econometric methods.
Lindau Nobel Laureate meeting: Expectations
I was very enthusiastic about the idea of meeting 17 Nobel Laureates from the field I have been passionate about since high school and which I have chosen for my academic career. Having an opportunity to take part in stimulating discussions with the professors who have made history in economics terms was a huge honour for me and a dream come true.
I was really excited about taking part in the Lindau meeting, as in my opinion this would contribute to my development as an academic, especially as the focus of the event perfectly matched my research interests and profile. Furthermore, I was sure that this experience would constitute a rich source of professional and human growth.
Honestly, I was looking forward to enjoying every single aspect of the meeting, such as the lectures, the panel discussions and the social events, because the Lindau meeting is a
unique opportunity.
But if I had to select one part of the meeting that I was particularly looking forward to, it would be my participation as a panellist in the discussion on “New Conditions for Monetary and Fiscal Policy”, together with Nobel Laureates Peter A. Diamond, Edward C. Prescott and Christopher A. Sims.
The experience
I was also invited to give a talk during the macroeconomic session on my research into the real implications of quantitative easing in the euro area. My audience included Nobel Laureates Prof. Hansen, Prof. Kydland, Prof. Prescott, Prof. Sims and Prof. Pissarides.
Both of my presentations were focused on the role of intra-financial interconnectedness during the last financial crisis and on developments in terms of methods and policies accounting for it. In this regard, I also paid particular attention to new challenges for the economics discipline, in terms of new methods for dealing with Big Data and accounting for them in economic models.
Chiara’s message to young researchers
If someone had told me that in the first year and a half of my PhD that I was going to share the stage with three awesome Nobel Laureates in Economics, I wouldn’t have believed it. Receiving feedback on my research from the most renowned economists ever during my seminar presentation and participating in a panel discussion with them was the best experience I could ever have imagined having at this amazing and unforgettable event in Lindau. So, I would advise the young economists to apply to attend the event independently during their PhD and to get in the game with original ideas.
Meet Veronika Stolbova, whose research has attracted media attention!
Economist Veronika Stolbova was invited to the Lindau Nobel Laureate meeting as a speaker, and spoke to journalists about the Future of the European Economy during the ‘Lindau Press Talk’.
About Veronika Stolbova
Originally from Petropavlovsk-Kamchatsky (Russia), I conduct research in the fields of climate finance, sustainable finance, macroeconomics, financial networks, systemic risk and early warning indicators.
Her project
I am currently working on the H2020 ISIGrowth project, related to social and economic dynamics and policy implications; the Carbon Bubble project, aimed at estimating climate-related risks for the Euro area economy; and the H2020 Dolfins project, focusing on helping the financial system to serve society better.
Lindau Nobel Laureate meeting: Expectations
I expected an incredibly interesting and high-level event. I hoped to see the Nobel Laureates during their lectures but never expected to discuss and interact with them personally.The 6th Lindau meeting exceeded all my expectations! It was incredibly well organised to fit with the objective of collaboration and networking between the Laureates and young
economists. Beginning with lectures and seminars and finishing with numerous meetings and events taking place during the day, the Lindau organisers created an incredible atmosphere of excitement, curiosity, challenges, and inspiration.
The experience
I had an amazing opportunity to take part in four different activities at the meeting. Beforehand, I had received a request to write a blog about the effect of climate change on financial institutions and the decarbonisation of the economy: http://www.lindau-nobel.org/blog-is-the-paris-agreement-onclimate-change-bad-for-business/. It was not only a chance to raise awareness of the problem of the impact of climate change, but also to share my research with the world and receive very valuable feedback. After the post was published (about a week before the Lindau meeting) I began to receive e-mails from young economists wanting to discuss the challenges involved in estimating climate change impact and establish possible collaborations. I was very excited. Even before the doors had opened, the Lindau meeting was connecting people.
As a result of this blog, I was invited to participate in the ‘Lindau Press Talk’, which involved taking part in a panel discussion about the future of the European economy with two Nobel Prize Laureates: Chris Pissarides and Eric Maskin. Talented young economist Lenka Habetinova and two professional journalists – Frances Coppola and Romesh Vaitilingam – also took part. This was an incredible experience like no other I have had and I was very grateful for this opportunity.
After the Press Talk, I was approached by two journalists – Korneel Delbeke from De Standaard and Natalie Gratwohl from Neuer Zürcher Zeitung. We had two very fruitful and interesting discussions, which later lead to this article written by Natalie Gratwohl.
On the third day of the Lindau meeting, I had an opportunity to present my research to a panel of the Nobel Laureates, including Lars Peter Hanse, Finn E. Kydland, Sir Christopher A. Pissarides, Edward Prescott and Christopher A. Sims, as well as young economists. I was thrilled! I used the title ‘Is the “climate change deal” really “bad for business”?’, and received a lot of comments, especially from Prof. Pissarides and Prof. Hansen. The dialogue continued in a discussion circle and the whole exchange left me feeling excited, thrilled and inspired to continue my research. We received from each other advice on new methods, new studies, collaboration opportunities and even the challenges that feature in the life of a researcher.
During the Lindau meeting, I learned two important things.
First, all Nobel Laureates are very impressive people: the work they have done, the life they have had and are continuing to lead. They are all also people. But there was something I could not place: they looked different from most of the
professors I have met. Although most of them had already celebrated their 60th birthday, they all were young. They were all curious, and they were all inspired by the work they are doing, with theories they hear, with the world. I think this curiosity that they have in common makes them very special. From what I have seen, they awoke the same curiosity in many of the young economists present.
Second, that there are no borders or boundaries in science. People from all over the world came to Lindau to interact, learn and discuss, and they were all speaking the same language – the language of science. Led by inspiration and curiosity and supported by their supervisors, their peers, and their interest to understand the world, they were able to communicate and understand each other perfectly. Being there and seeing all these people who had come with the same purpose and passion in life made me feel at home, even though I was very far from my hometown. I felt good knowing that I was doing what I like to do, with people I like.
Inspiring meetings
I had a lot of opportunities to speak with Nobel Laureates. The Lindau meeting is set up in a way that makes it easy for young economists to talk to Laureates. Also, the Laureates showed a lot of willingness to talk to researchers, which made it much easier to approach them.
The first Laureate I talked to was Brian Schmidt, Laureate in Physics. We discussed several topics, starting from astronomy and ending with economics. He was a big inspiration to me, as a physicist with a deep understanding of economics. With a physicist by background myself, and as someone who conducts research on the bridge between climate change and economics, I found discussions with him very encouraging. I also
got a chance to discuss the topic of my research – climate finance - with Sir Christopher Pissarides and Prof. Lars Peter Hansen. From Sir Christopher Pissarides I received very valuable and important advice on the further development of my research, for which I am extremely grateful. During the picnic on the Mainau Island, organised as a part of the Lindau meeting, I spoke with Prof. Peter A. Diamond and discussed the future of European
pension funds.
I also learned a lot about writing and journalism from Romesh Vaitilingam, talked to Frances Coppola – a strong woman and inspiring journalist – and met many smart and enthusiastic young economists, with whom I hope to work one day.
Veronika ’s message to young researchers
I would definitely encourage all researchers to participate in such events. Even if you do not plan an academic career, you will receive a boost to your creativity, encouragement to follow your ideas, and an opportunity to meet incredible, smart and inspiring people. And for those, who do plan an academic career, I would say: “A previous participant at the Lindau Nobel Laureate meeting has received a Nobel Prize.” Do not miss an opportunity!