Gerzensee Finance 2011, held by the Study Center Gerzensee, offered a multifaceted examination of contemporary issues in financial economics. A key theme revolved around the lingering effects of the 2008 financial crisis and potential vulnerabilities in the global financial system. Participants, comprising academics, policymakers, and practitioners, engaged in intensive discussions centered on macroprudential regulation, sovereign debt crises, and the interplay between monetary policy and financial stability. One prominent area of focus was the design and implementation of effective macroprudential policies. Speakers presented research exploring various instruments aimed at mitigating systemic risk, such as countercyclical capital buffers, loan-to-value ratios, and sectoral capital requirements. Debates arose concerning the optimal calibration of these tools, considering the potential for unintended consequences and the challenges of cross-border coordination. The effectiveness of different regulatory approaches in preventing future crises was a recurring point of discussion. Sovereign debt also occupied a central position in the conference program. The ongoing European debt crisis provided a stark backdrop for analyses of sovereign risk, debt sustainability, and the role of international institutions. Presentations explored the economic and political factors driving sovereign debt crises, as well as the effectiveness of different policy responses, including austerity measures, debt restructuring, and fiscal stimulus. The impact of sovereign debt on the banking sector and the potential for contagion effects were also examined. The relationship between monetary policy and financial stability received significant attention. Presenters explored the potential for low interest rates to fuel asset bubbles and encourage excessive risk-taking. The trade-offs faced by central banks in balancing price stability with financial stability were highlighted. Discussions centered on the use of unconventional monetary policies, such as quantitative easing, and their potential impact on financial markets and asset prices. The role of central bank independence and communication in maintaining credibility and managing expectations was also debated. Beyond these core themes, Gerzensee Finance 2011 also featured presentations on topics such as asset pricing, behavioral finance, and corporate governance. Researchers presented new empirical evidence and theoretical models shedding light on the complexities of financial markets and the behavior of economic agents. The conference provided a valuable forum for the exchange of ideas and the dissemination of cutting-edge research, contributing to a deeper understanding of the challenges facing the financial system. The insights generated at Gerzensee continued to inform policy debates and academic research in the years following the conference.