Prof. Dr. Christoph Trebesch

Head

International Finance and Global Governance

Topics: International Finance, Fiscal Policy & National Budgets, Economic & Financial Crises

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Further Affiliations

Main research interests

Sovereign Debt and Default
International Capital Flows
Financial Stability and Financial Crises
Political Economy
International Financial Institutions

For an overview of my research papers please visit:
https://sites.google.com/site/christophtrebesch/research

Current Position:
Since April 2017 Kiel Institute, Head of Research Area “International Finance and Global Governance”
Since April 2017 Professor of Macroeconomics (tenured), Kiel University

Previous Positions:
2011-2017 Assistant Professor, Dept. of Economics, University of Munich (LMU)
2006-2011 Research Associate, Hertie School and FU Berlin

Education:
2011 PhD (Doctorate) in Economics, Free University Berlin
2009/2010 Yale, Visiting Graduate Student (Fox Fellowship)
2005/2006 Kiel Advanced Studies Programme
2005 Master (Diplom) in Economics, Free University Berlin

Research Visits:
2016 (Febr/April) UC Berkely
2014 (Jan & Oct) Harvard Kennedy School
2013 (Sept.) Fed Chicago
2013 & 2010 International Monetary Fund

Journal Article

Going to Extremes: Politics after Financial Crises, 1870-2014

European Economic Review

09/2016

Partisan conflict and policy uncertainty are frequently invoked as factors contributing to slow post-crisis recoveries. Recent events in Europe provide ample evidence that...

Journal Article

Global Cycles: Capital Flows, Commodities, and Sovereign Defaults, 1815-2015

American Economic Review: Papers Proceedings

01/2016

Capital flow and commodity cycles have long been connected with economic crises. Sparse historical data, however, has made it difficult to connect their timing. We date...

Migration contributes to the circulation of goods, knowledge, and ideas. Using community and individual-level data from Moldova, we show that the emigration episode that...

Journal Article

Sovereign Debt Relief and Its Aftermath

Journal of the European Economic Association

02/2016

This paper studies sovereign debt relief in a long-term perspective. We quantify the relief achieved through default and restructuring in two distinct samples: 1920–1939,...

Journal Article

The Greek Debt Restructuring: An Autopsy

Economic Policy

01/2013

The Greek debt restructuring of 2012 stands out in the history of sovereign defaults. It achieved very large debt relief – over 50% of 2012 GDP – with minimal financial...

Journal Article

Sovereign Defaults: The Price of Haircuts

American Economic Journal: Macroeconomics

01/2013

A main puzzle in the sovereign debt literature is that defaults have only minor effects on subsequent borrowing costs and access to credit. This paper comes to a different...

Journal Article

Political Booms, Financial Crises

Journal of Political Economy

forthcoming

Helios Herrera, Guillermo Ordoñez, Christoph Trebesch

We show that political booms, measured by the rise in governments' popularity, predict financial crises above and beyond other...

Franziska Hünnekes, Moritz Schularick, Christoph Trebesch

Germany is world champion in exporting capital (“Exportweltmeister”). No other country invests larger amounts of savings outside its...

Working Paper

China’s Overseas Lending

Kiel Working Papers

06/2019

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Sebastian Horn, Carmen Reinhart, Christoph Trebesch

Compared with China’s dominance in world trade, its expanding role in global finance is poorly documented and understood. ...

Working Paper

The Seniority Structure of Sovereign Debt

Kiel Working Papers

04/2019

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Matthias Schlegl, Christoph Trebesch, Mark L.J. Wright

Sovereign governments owe debt to many foreign creditors and can choose which creditors to favor when making payments. This paper...

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Sebastian Horn, Josefin Meyer, Christoph Trebesch

Kiel Policy Brief No. 136: The history of joint European bond issuance has been largely forgotten. The authors show that bonds issued...

Manuel Funke, Josefin Meyer, Christoph Trebesch

KBW 24: According to a recent German-French proposal, a financial market transaction tax (FTT) at a rate of 0.2% on the purchase of...

Angelica Dominguez-Cardoza, Christoph Trebesch

Kiel Policy Brief No. 130: Argentina is again experiencing a severe debt and currency crisis in the middle of an election campaign...

Policy Article

Time for a new Industrial Policy? (in German)

Kiel Policy Briefs

03/2019

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Dirk Dohse, Gabriel Felbermayr, Holger Görg ...

Kiel Policy Brief No. 122: In their paper, the authors warn of a new trend towards autarky under the catchword of "technology...

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Populism is one of the main challenges of our time. However, the phenomenon has not been sufficiently researched so far, especially in economics. In particular, there is a lack of sustainable prevention strategies. This...

In a project with Carmen Reinhart and Vincent Reinhart we ask: How do international capital flows affect global financial stability? To address this question we create a new, extensive database on international capital...

IMF Managing Director Kristalina Georgieva

In order to counter a global payment crisis triggered by the corona pandemic, Kiel Institute experts Rolf J. Langhammer and...

Since the 1970s, European countries have repeatedly issued community bonds on the private capital market. The bonds were...

The introduction of a European Union financial transaction tax at a rate of 0.2 percent can generally be supported. However,...

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Global Solutions Summit 2019

Achieving Paradigm Change

18 - 19 Mar 2019

With a view to the Japanese G20 Presidency 2019 and T20 Summit in Tokyo, the Global Solutions Summit – The World Policy Forum in Berlin will take place on 18-19 March 2019.

Institut für Weltwirtschaft

...We talk to Professor Christoph Trebesch from the Kiel Institute, who explains how China's opaque lending practices make it...

... Harvard economist Carmen Reinhart and two colleagues, Sebastian Horn and Christoph Trebesch, from Germany’s Kiel Institute for...

Reports on the study "China's Overseas Lending" by Christoph Trebesch et al.

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RT @heuteplus: Mit 130 Milliarden Euro will die Bundesregierung die #Corona-Krise abmildern. Doch wer profitiert von den #Beschlüssen? Die…

RT @heuteplus: Die Bundesregierung will mit einem #Wumms aus der Krise – doch wem nützen die #Beschlüsse des 130 Milliarden Euro schweren K…

@omfritz @chschuetter @botic @Helge @rudi_anschober @GFelbermayr ifw-kiel.de/de/publikation…

"Es ist jetzt viel von #Wumms und 'Klotzen statt Kleckern' die Rede. Aber der ganz große Wurf ist das #Konjunkturpaket nicht", sagt IfW-Kiel-Konjunkturchef @StefanKooths im @NDRsh ndr.de/nachrichten/sc…

"Ich hätte nicht erwartet, dass die Politik dem Druck der Automobilindustrie standhalten und sich der #Abwrackprämie widersetzen würde“, sagt IfW-Präsident @GFelbermayr im Gespräch mit @DonataRiedel vom @handelsblatt. #Konjunkturpaket handelsblatt.com/politik/deutsc…

RT @StefanKooths: #Konjunkturpaket: Weniger (Kleinteiligkeit) wäre mehr (Stabilität) gewesen. Durchgreifende Stützung der Unternehmen fehlt…

„Die positive Überraschung ist, dass weitgehend auf Extrawürste für einzelne Branchen verzichtet wurde", sagt IfW-Kiel-Präsident @GFelbermayr zum #Konjunkturpaket. Aber es hat diverse andere Schwächen. #Wumms ifw-kiel.de/de/media-pages…

RT @dneuerer: Ökonom ⁦@GFelbermayr⁩: „Die steuerliche Dimension ist eine Enttäuschung, die Entlastung für Firmen bleibt viel zu zaghaft.“ h…

RT @GFelbermayr: Das Konjunkturpaket ist in Summe eine erfreuliche Überraschung. Branchenneutralität ist positiv. Die MWSt-Senkung hatte ke…

RT @GFelbermayr: Kritisches zur MWSt-Senkung:

1 Maßnahme fußt auf falscher Prämisse: nicht Massenkaufkraft fehlt sondern Konsumentenzuversi…

Analysis, comments, and proposals by the Kiel Institute regarding the global Corona crisis and the containment of its...

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Further Affiliations

Main research interests

Selected Publications

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