Isabel Schnabel
Member of the ECB's Executive Board
- Date of birth
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9 August 1971
- Education
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2003
PhD, Economics, University of Mannheim
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1998
Diploma in Economics, University of Mannheim
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1992-1998
Studies in Economics at the Universities of Mannheim, Paris I (Sorbonne) and UC Berkeley
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1990-1992
Professional training, Deutsche Bank, Dortmund
- Career
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Since 2020
Member of the Executive Board, European Central Bank
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Since 2015
Professor of Financial Economics, University of Bonn (on leave)
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2014-2019
Member of the German Council of Economic Experts (Sachverständigenrat zur Begutachtung der gesamt-wirtschaftlichen Entwicklung)
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2007-2015
Professor of Financial Economics, University of Mainz
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2004-2007
Senior Research Fellow, Max Planck Institute for Research on Collective Goods, Bonn
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2004-2005
Visiting Postdoctoral Fellow at Harvard University
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2003-2004
Assistant Professor of Economics, University of Mannheim
- Selected professional activities
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Member of the Policy Advisory Council, Leibniz Institute for Financial Research SAFE, since 2024
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Distinguished Fellow, Centre for Economic Policy Research (CEPR), since 2022 (Research Fellow since 2015, Research Affiliate since 2006)
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Member of the Board of Management, European Association for Banking and Financial History (eabh), since 2021
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Council Member, European Economic Association, since 2020
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Distinguished Research Professor, Cluster of Excellence “ECONtribute – Markets & Public Policy”, since 2020
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Spokesperson, Cluster of Excellence “ECONtribute – Markets & Public Policy”, 2019
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Co-Chair, Franco-German Council of Economic Experts, 2019
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Executive Board Member, Reinhard Selten Institute, Bonn and Cologne, 2017-2019
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Member, Scientific Advisory Board of the Research Data and Service Centre at the Deutsche Bundesbank, 2016-2019 (Deputy Chair as of June 2017)
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Member, Advisory Scientific Committee (ASC) of the European Systemic Risk Board (ESRB), 2015-2019 (Vice-Chair in 2019)
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Member, Administrative Council of BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht), 2013-2019
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Member, Advisory Board of BaFin, 2008-2019 (Chair as of 2016)
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Research Affiliate, Max Planck Institute for Research on Collective Goods, Bonn, 2007-2019
- Research interests
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Banking (banking stability and regulation, “too big to fail”, systemic risk)
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Central banking
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International finance (financial crises, financial integration, capital flows)
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Economic history (financial crises and institutions)
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Financial law and economics
- Selected awards
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Corresponding member, Austrian Academy of Sciences (currently inactive), since 2024
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Corresponding member, North Rhine-Westphalian Academy of Sciences, Humanities and the Arts (currently inactive), since 2019
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Member, Berlin-Brandenburg Academy of Sciences and Humanities (currently inactive), since 2018
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Global Economy Prize, category: economics, Kiel Institute for the World Economy, 2024
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Thünen Lecture, “Money and inflation”, Verein für Socialpolitik, 2023
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Stolper Prize, Verein für Socialpolitik, 2018
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Prize of the Monetary Workshop, 2018
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Best Teaching Award, Goethe University Frankfurt, 2010
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Best Teaching Award, University of Mannheim, 2000
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Scholarship of the German National Academic Foundation (Studienstiftung des Deutschen Volkes), 1993-1998
- Selected research publications in refereed journals
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“Asset Price Bubbles and Systemic Risk,” with Markus K. Brunnermeier and Simon Rother, The Review of Financial Studies, 2020, 33(9), 4272-4317.
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“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.
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“Competition, Risk-Shifting, and Public Bail-out Policies,” with Reint Gropp and Hendrik Hakenes, Review of Financial Studies, 2011, 24(6), 2084-2120.
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“Liquidity and Contagion: The Crisis of 1763,” with Hyun Song Shin, Journal of the European Economic Association, 2(6), December 2004, 929-968.
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“The German Twin Crisis of 1931,” Journal of Economic History, 64(3), September 2004, 822-871.
- Selected policy publications
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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.
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Verursachen Target-Salden Risiken für die Steuerzahler? [Do Target Balances Create Risks for Taxpayers?], with Martin Hellwig, Wirtschaftsdienst, 99(8), 2019, 553–561.
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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.
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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.
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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.