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Isabel Schnabel

Member of the ECB's Executive Board

Date of birth

9 August 1971

Education
2003

PhD, Economics, University of Mannheim

1998

Diploma in Economics, University of Mannheim

1992-1998

Studies in Economics at the Universities of Mannheim, Paris I (Sorbonne) and UC Berkeley

1990-1992

Professional training, Deutsche Bank, Dortmund

Career
Since 2020

Member of the Executive Board, European Central Bank

Since 2015

Professor of Financial Economics, University of Bonn (on leave)

2014-2019

Member of the German Council of Economic Experts (Sachverständigenrat zur Begutachtung der gesamt-wirtschaftlichen Entwicklung)

2007-2015

Professor of Financial Economics, University of Mainz

2004-2007

Senior Research Fellow, Max Planck Institute for Research on Collective Goods, Bonn

2004-2005

Visiting Postdoctoral Fellow at Harvard University

2003-2004

Assistant Professor of Economics, University of Mannheim

Selected professional activities

Member of the Policy Advisory Council, Leibniz Institute for Financial Research SAFE, since 2024

Distinguished Fellow, Centre for Economic Policy Research (CEPR), since 2022 (Research Fellow since 2015, Research Affiliate since 2006)

Member of the Board of Management, European Association for Banking and Financial History (eabh), since 2021

Council Member, European Economic Association, since 2020

Distinguished Research Professor, Cluster of Excellence “ECONtribute – Markets & Public Policy”, since 2020

Spokesperson, Cluster of Excellence “ECONtribute – Markets & Public Policy”, 2019

Co-Chair, Franco-German Council of Economic Experts, 2019

Executive Board Member, Reinhard Selten Institute, Bonn and Cologne, 2017-2019

Member, Scientific Advisory Board of the Research Data and Service Centre at the Deutsche Bundesbank, 2016-2019 (Deputy Chair as of June 2017)

Member, Advisory Scientific Committee (ASC) of the European Systemic Risk Board (ESRB), 2015-2019 (Vice-Chair in 2019)

Member, Administrative Council of BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht), 2013-2019

Member, Advisory Board of BaFin, 2008-2019 (Chair as of 2016)

Research Affiliate, Max Planck Institute for Research on Collective Goods, Bonn, 2007-2019

Research interests

Banking (banking stability and regulation, “too big to fail”, systemic risk)

Central banking

International finance (financial crises, financial integration, capital flows)

Economic history (financial crises and institutions)

Financial law and economics

Selected awards

Corresponding member, Austrian Academy of Sciences (currently inactive), since 2024

Corresponding member, North Rhine-Westphalian Academy of Sciences, Humanities and the Arts (currently inactive), since 2019

Member, Berlin-Brandenburg Academy of Sciences and Humanities (currently inactive), since 2018

Global Economy Prize, category: economics, Kiel Institute for the World Economy, 2024

Thünen Lecture, “Money and inflation”, Verein für Socialpolitik, 2023

Stolper Prize, Verein für Socialpolitik, 2018

Prize of the Monetary Workshop, 2018

Best Teaching Award, Goethe University Frankfurt, 2010

Best Teaching Award, University of Mannheim, 2000

Scholarship of the German National Academic Foundation (Studienstiftung des Deutschen Volkes), 1993-1998

Selected research publications in refereed journals

“Asset Price Bubbles and Systemic Risk,” with Markus K. Brunnermeier and Simon Rother, The Review of Financial Studies, 2020, 33(9), 4272-4317.

“Financial Sector Reform After the Crisis: Has Anything Happened?”, with Alexander Schäfer and Beatrice Weder di Mauro, Review of Finance, 2016, 20(1), 77-125.

“Competition, Risk-Shifting, and Public Bail-out Policies,” with Reint Gropp and Hendrik Hakenes, Review of Financial Studies, 2011, 24(6), 2084-2120.

“Liquidity and Contagion: The Crisis of 1763,” with Hyun Song Shin, Journal of the European Economic Association, 2(6), December 2004, 929-968.

“The German Twin Crisis of 1931,” Journal of Economic History, 64(3), September 2004, 822-871.

Selected policy publications

Target-Salden, Leistungsbilanzsalden, Geldschöpfung, Banken und Kapitalmärkte [Target Balances, Current Account Balances, Money Creation, Banks and Capital Markets], with Martin Hellwig, Wirtschaftsdienst, 99(9), 2019, 632–640.

Verursachen Target-Salden Risiken für die Steuerzahler? [Do Target Balances Create Risks for Taxpayers?], with Martin Hellwig, Wirtschaftsdienst, 99(8), 2019, 553–561.

Completing Europe’s Banking Union means breaking the bank-sovereign vicious circle, with Nicolas Véron, VoxEU column, 16 May 2018, available at www.voxeu.org, also available at the Peterson Institute for International Economics and at Bruegel.

Breaking the stalemate on European deposit insurance, with Nicolas Véron, VoxEU column, 6 April 2018, available at www.voxeu.org, also available at the Peterson Institute for International Economics and at Bruegel.

Reconciling risk sharing with market discipline: A constructive approach to euro area reform, with Agnès Bénassy-Quéré, Markus K. Brunnermeier, Henrik Enderlein, Emmanuel Farhi, Marcel Fratzscher, Clemens Fuest, Pierre-Olivier Gourinchas, Philippe Martin, Jean Pisani-Ferry, Hélène Rey, Nicolas Véron, Beatrice Weder di Mauro and Jeromin Zettelmeyer, CEPR Policy Insight No. 91, also available at the Peterson Institute for International Economics and at Bruegel.