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Moritz Schularick

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Moritz Schularick is professor of economics at the University of Bonn. Before that he was a professor at the John F. Kennedy Institute of the Free University of Berlin, Germany, a visiting scholar at Cambridge University, and worked in the financial industry for several years. His current work focuses on credit cycles, the determinants of financial crises, and the international monetary system. Together with Niall Ferguson, he coined the term “Chimerica” to describe the intimate financial relations between the United States and China. Working at the crossroads of monetary and international economics as well as economic history, his contributions can be found in the American Economic Review, the Review of Economics and Statistics, the Journal of Economic Growth, the Journal of Economic History, and several other journals.

By this expert

When the Middle Class Lost Its Wealth

Article | Nov 15, 2018

Until 2008, rising home values gave the middle class a cushion amid growing income inequality. But following the financial crisis, that wealth has failed to return.

The Rate of Return on Everything, 1870–2015

Paper Conference paper | | Dec 2017

This paper answers fundamental questions that have preoccupied modern economic thought since the 18th century.

Inside the Great Leveraging

Paper Conference paper | | Oct 2017

This paper discusses what we have learned about the debt build-up in advanced societies over the past century. It shows that the extraordinary growth of aggregate debt in the past century was driven by the private sector.

When Credit Bites Back: Leverage, Business Cycles and Crises

Paper Working Paper Series | | Oct 2015

This paper studies the role of credit in the business cycle, with a focus on private credit overhang.

Featuring this expert

Private Debt

Event Conference | Hosted by Private Debt | Apr 6–8, 2018

With the support and partnership of the Governor’s Woods Foundation, the Institute for New Economic Thinking will convene top scholars for the Private Debt Initiative

Reawakening

From the Origins of Economic Ideas to the Challenges of Our Time

Event Conference #INET2017 | Oct 21–23, 2017

INET gathered hundreds of new economic thinkers in Edinburgh to discuss the past, present, and future of the economics profession.

Credit Booms Gone Bust

Video | Jan 24, 2012

Carmen Reinhart and Kenneth Rogoff tell the history of financial crisis as a tale of excessive public debt. But what more commonly drives financial instability, says Moritz Schularick, is excessive private debt.