NEW PAPERS

INFLATION SURPRISES AND ELECTION OUTCOMES

CEPR DISCUSSION PAPER I December 2024

Jonathan Federle, Cathrin Mohr, Moritz Schularick

FATAL AUSTERITY: THE ECONOMIC CONSEQUENCES OF HEINRICH BRÜNING

WORKING PAPER  I October 2024

Stephanie Ettmeier, Alexander Kriwoluzky, Moritz Schularick, Lucas ter Steege

WHAT IF? THE MACROECONOMIC AND DISTRIBUTIONAL EFFECTS FOR GERMANY OF A STOP OF ENERGY IMPORTS FROM RUSSIA

ECONOMICA | July 2024

Rüdiger Bachmann, David Baqaee, Christian Bayer, Moritz Kuhn, Andreas Löschel, Benjamin Moll, Andreas Peichl, Karen Pittel, Moritz Schularick

THE DISTRIBUTION OF HOUSEHOLD DEBT IN THE UNITED STATES, 1950-2019

WORKING PAPER | March 2024

Alina K. Bartscher, Moritz Kuhn, Moritz Schularick, Ulrike I. Steins

INTEREST RATES AND THE SPATIAL POLARIZATION OF HOUSING MARKETS

AMERICAN ECONOMIC REVIEW INSIGHTS | March 2024

Francisco Amaral, Martin Dohmen, Sebastian Kohl, Moritz Schularick

UNEMPLOYMENT RISK, PORTFOLIO CHOICE, AND THE RACIAL WEALTH GAP

WORKING PAPER | March 2024

Ellora Derenoncourt, Chi-Hyun Kim, Moritz Kuhn, Moritz Schularick

THE PRICE OF WAR

CEPR DISCUSSION PAPER | February 2024

Revision requested at the American Economic Review

Jonathan Federle, André Meier, Gernot J. Müller, Willi Mutschler, and Moritz Schularick

POPULIST LEADERS AND THE ECONOMY

AMERICAN ECONOMIC REVIEW | December 2023

Manuel Funke, Moritz Schularick, Christoph Trebesch

DISASTERS EVERYWHERE: THE COSTS OF BUSINESS CYCLES RECONSIDERED

IMF ECONOMIC REVIEW | November 2023

Òscar Jordà, Moritz Schularick, Alan Taylor

CHANGES IN THE DISTRIBUTION OF BLACK AND WHITE WEALTH SINCE THE US CIVIL WAR

JOURNAL OF ECONOMIC PERSPECTIVES | Fall 2023

Ellora Derenoncourt, Chi-Hyun Kim, Moritz Kuhn, Moritz Schularick

THE WEALTH OF TWO NATIONS: THE U.S. RACIAL WEALTH GAP, 1860-2020

QUARTERLY JOURNAL OF ECONOMICS | September 2023

Ellora Derenoncourt, Chi-Hyun Kim, Moritz Kuhn, Moritz Schularick

THE POWER OF SUBSTITUTION: THE GREAT GERMAN GAS DEBATE IN RETROSPECT

WORKING PAPER | September 2023

Benjamin Moll, Moritz Schularick, Georg Zachmann

SPATIAL WAGE INEQUALITY IN NORTH AMERICA AND WESTERN EUROPE:
CHANGES BETWEEN AND WITHIN LOCAL LABOUR MARKETS 1975-2019

CEPR DISCUSSION PAPER 18381 I August 2023

Luis Bauluz, Paweł Bukowski, Mark Fransham, Annie Lee, Margarita Lopez Forero, Filip Novokmet, Sebastien Breau, Neil Lee, Clément Malgouyres, Moritz Schularick, Gregory Verdugo

EXPORTWELTMEISTER: GERMANY'S FOREIGN INVESTMENT RETURNS IN INTERNATIONAL COMPARISON

WORKING PAPER  I February  2023

Hünnekes, Franziska, Konradt, Maximilian, Schularick, Moritz, Trebesch, Christoph, Wingenbach, Julian

LOOSE MONETARY POLICY AND FINANCIAL INSTABILITY

NBER WORKING PAPER 30958  I February  2023

Revision requested at the Review of Economic Studies

Maximilian Grimm, Òscar Jordà, Moritz Schularick, Alan M. Taylor

SUPERSTAR RETURNS? SPATIAL HETEROGENEITY IN RETURNS TO HOUSING

WORKING PAPER  I  January 2023

Revision requested at the Journal of Finance

Francisco Amaral, Martin Dohmen, Sebastian Kohl, Moritz Schularick

THE SAFETY NET: CENTRAL BANK BALANCE SHEETS AND FINANCIAL CRISES

CEPR DISCUSSION PAPER 17858  I January  2023

Niall Ferguson, Martin Kornejew, Paul Schmelzing, Moritz Schularick

SURVIVAL OF THE BIGGEST: LARGE BANKS AND FINANCIAL CRISES

SSRN | August 2022

Matthew Baron, Moritz Schularick, Kaspar Zimmermann

FINANCIAL STABILITY CONSIDERATIONS FOR MONETARY POLICY: EMPIRICAL EVIDENCE AND CHALLENGES

WORKING PAPER | June 2022

Nina Boyarchenko, Giovanni Favara, Moritz Schularick

WEALTH AND ITS DISTRIBUTION IN GERMANY, 1895-2018

CEPR DISCUSSION PAPER 17269 I April 2022

Revision requested at the Journal of the European Economic Association

Thilo Albers, Charlotte Bartels, Moritz Schularick

THE ANATOMY OF THE GLOBAL SAVING GLUT

CEPR DISCUSSION PAPER 17215  I  April 2022

Luis Bauluz, Filip Novokmet, Moritz Schularick

ZOMBIES AT LARGE? CORPORATE DEBT OVERHANG AND THE MACROECONOMY 

THE REVIEW OF FINANCIAL STUDIES | March 2022

Òscar Jordà, Martin Kornejew, Moritz Schularick, Alan M Taylor

MONETARY POLICY AND RACIAL INEQUALITY

BROOKINGS PAPER ON ECONOMIC ACTIVITY | March 2022

Alina K. Bartscher, Moritz Kuhn, Moritz Schularick, and Paul Wachtel

THE MACROECONOMIC IMPACT OF TRUMP

POLICY STUDIES | April 2021

Benjamin Born, Gernot J. Müller, Moritz Schularick, Petr Sedláček

MODIGLIANI MEETS MINSKY: INEQUALITY, DEBT, AND FINANCIAL FRAGILITY IN AMERICA

CEPR DISCUSSION PAPER 14667  I  April 2020

Alina K. Bartscher, Moritz Kuhn, Moritz Schularick, Ulrike Steins

EXPORTWELTMEISTER: THE LOW RETURNS ON GERMANY'S CAPITAL EXPORTS

CEPR DISCUSSION PAPER 13863  I July 2019

JOURNAL OF INTERNATIONAL ECONOMICS, forthcoming

Franziska Hünnekes, Moritz Schularick, Christoph Trebesch

THE TOTAL RISK PREMIUM PUZZLE

NBER WORKING PAPER 23653  I  March 2019

Òscar Jordà, Moritz Schularick, Alan Taylor