Moritz Schularick becomes President of the Kiel Institute for the World Economy

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The IfW is one of the six largest economic institutes in Germany. In addition to the people from Kiel, the Leibniz Institute for Financial Market Research (SAFE) was also looking for a new top economist for a long time. The Frankfurt Institute also wanted Schularick. But he canceled there a year ago. The offer to stay from the University of Bonn had convinced him. Schularick has been teaching and researching there at the university and at the Cluster of Excellence Econtribute since 2012.

Institute for World Economy

This time the much larger Institute for the World Economy beat the Rhineland university in the fight for Schularick. When Felbermayr became president in Kiel four years ago, Schularick’s name had already been on the wish list. This time he had found himself third first. But the Frankfurt economist Nicola Fuchs-Schündeln and Markus Brunnermeier, who teaches at the US elite university Princeton, had canceled.

Schularick is considered the man of the hour in the German economy. His assessments are in demand, not only in science, but also in politics. His innovative methods are shaking up the economic landscape. And Schularick brushes across, says clearly what he thinks.

The special thing about Schularick: He also sees himself as a historian. He is known for his insights into how conclusions about future financial crises can be drawn from the past. He observed a threat to financial stability, especially after periods of strong growth.

With Schularick at the helm, the venerable IfW will get a fresh coat of paint. The macroeconomist makes no secret of the fact that he dislikes German economics and political advice. The German scene is internationally uncoupled.

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Schularick studied in Paris and did research in Cambridge, Harvard and New York. “It’s not good for a country to be advised by people who are hardly visible in international scientific discourse,” the economist said in an interview with the Handelsblatt. There is an international consensus on many issues. “In Germany you can ignore that and still be a sought-after consultant.”

The harsh judgment is also a reaction to the debate about an energy embargo against Russia. Shortly after the beginning of the war, Schularick and eight other researchers calculated the consequences of a halt to the supply of gas, coal and oil for Germany. The result: an immediate embargo is “manageable”.

Since then, Schularick has sharply criticized the fact that the federal government refuses to do so. “He has a very brash attitude,” says someone close to the government. Another government official said he wasn’t sure Kiel would have happened if he had fueled the embargo debate before the negotiations.

However, the chief economist at the Federal Ministry of Economics, Elga Bartsch, was now pleased. “I value Mr. Schularick as one of the most renowned German scientists in the field of international financial market research,” said Bartsch. Above all, Schularick’s excellent scientific reputation has brought him the post. In 2022, Schularick won the Leibniz Prize, which is endowed with 2.5 million euros. In Kiel, his influence on the German economy will continue to grow.

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