Moritz Schularick is a Fellow at the Institute for New Economic Thinking (INET) and professor of economics at the University of Bonn. He was previously 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 Quarterly Journal of Economics, the Journal of Monetary Economics, the Journal of International Economics, the Journal of Economic History, and several other journals.
- Leader of Private Debt
- Leader of Finance and the Welfare of Nations: The View from Economic History
By this expert
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.
This paper answers fundamental questions that have preoccupied modern economic thought since the 18th century.
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.
This paper studies the role of credit in the business cycle, with a focus on private credit overhang.
Featuring this expert
Shaped by the 2008 financial crisis, a new generation of economists is expanding the boundaries of economic thinking on credit cycles, private debt, and financial stability.
INET gathered hundreds of new economic thinkers in Edinburgh to discuss the past, present, and future of the economics profession.
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.